How to settle an Xe contract with Direct Debit in Microsoft Dynamics 365 F&O

To settle an Xe contract with ACH or EFT you first need to link your authorised bank account for Xe Payments.

How to link your authorised bank account for Xe Payments:

Follow the steps below to link your authorised bank account for Xe Payments:

1. Go to Cash and Bank Management > Bank Accounts.
2. Open the bank account you've authorized Xe to debit.
3. Go to the Xe Payments section and select Direct Debit / ACH / EFT Configuration.
4. Choose the authorized bank account from the dropdown menu.
   
   
    
5. Click Save.

How to settle an Xe contract with ACH or EFT:

1. Create the Vendor payment journal
2. Add the invoices or payments to the journal.
3. Click Pay with Xe.
4. If the operating bank account has a verified Xe direct debit setup, ACH will appear as a settlement option along with the linked bank account.
   
   
    
5. Click OK to get a quote.
6. Approve the contract. The status will update to Settled upon approval:
   
   
    
7. Post the payments. Any FX gain/loss will be automatically accounted for.
   
   
    
8. Create, Post and Reconcile General Journal entries using Xe’s automated bank entries feature. This balances interim Xe bank account and adds a consolidated entry into Operating bank.