Create an Expected Payment

How to create an Expected Payment.

Creating an Expected Payment uses the same information as the pieces you may need for a Payment Order. However, since you are not initiating the transaction, our system allows for the use of ranges with dates and dollar amounts.


Overdue Expected Payment Alerts

You can set email notifications to be alerted when an Expected Payment is overdue - this will act as a prompt for you to check with the payment originator on timelines.

To create an Expected Payment

  1. Navigate to Expected Payments under the Reconciliation section.
  2. Click the 'Create New' dropdown menu and select "Expected Payment." This action will open a form for you to input the details of the Expected Payment.
    1. Required Fields:
      1. Direction - Select the appropriate direction for the payment. Choose "Receiving Money" if your account is expected to receive money, or "Being Charged" if your account is expected to be charged.
      2. Your Account - Specify the Internal Account that is expecting to receive the payment.
      3. Currency - Choose the currency in which the payment is expected to be made. Select from the list of available currencies.
      4. Amount - Enter the expected amount for the payment. You can input an exact amount if known, or provide a range if the amount is uncertain.
    2. Optional Fields:
      1. Statement Description - If applicable, enter any information you expect to receive in the transaction data. This field is optional but can be helpful for matching purposes details.
      2. Payment Type - Specify the expected payment method, such as "Wire Transfer," "Check," "ACH," or any other relevant method. This field is optional but can be helpful for matching purposes.
      3. Expected Date - You can input a specific date or a date range within which you anticipate the payment to be received.
      4. Expected Counterparty - If relevant, associate the Expected Payment with a specific Counterparty.
      5. Internal Description - Use this field to add any internal notes or comments related to the Expected Payment. These notes can provide additional context or instructions for your team.
      6. Metadata - Include any additional data in key-value pairs. Metadata allows you to attach custom information to the Expected Payment.
      7. Ledger Transaction - If applicable, create a Ledger Transaction to link to the Expected Payment.
      8. Line Item - If your Expected Payment involves multiple line items, provide the details for each line item. This is common for ACH transactions with multiple individual line items within a bulk transaction.
      9. Documents - Upload any relevant documents for internal use. This can include invoices, receipts, or other files related to the Expected Payment.
  3. After filling in the required fields and any optional ones, click "Create Expected Payment" to finish.

When Transactions populate into Modern Treasury, our systems will match them to Expected Payments based on the information you provide.