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By default the Amt. to Pay field populates with the settlement's Remaining Amt. and the Settlement Date defaults to the current date. The settlement date can be updated, but the date must be within an open fiscal period.
Click Validate to validate the settlements. An informative message is displayed if e.g. settlement accounts are missing. Validate toolbar icon also updates the Total Settlement amount that is displayed on the upper right corner. Once Validation is completed, the Validate toolbar icon is changed to Process. Click Process to process the settlement(s). This will create the corresponding settlement document(s) in the host system, within a batch, ready to be posted. Several settlements can be processed simultaneously and the batch ID of settlement transactions is the date and time of the settlement process event. If the brokerage is settled to an AR Credit Memo, an AR Credit Memo will be created in the host system for the Customer on the brokerage program. If the brokerage is settled to an AP Invoice, an AP Invoice will be created in the host system for the Vendor on the brokerage program.
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On the Process Settlement view the Amount to Pay column now displays the entered amount for the line item(s) that were selected for Editing. Update the Settlement Date if required.
Click Validate to validate the settlements. An informative message is displayed if e.g. settlement accounts are missing. Validate toolbar icon also updates the Total Settlement amount that is displayed on the upper right corner. Once Validation is completed, the Validate toolbar icon is changed to Process. Click Process to process the settlement(s). This will create the corresponding settlement document in the host system, sent in the corresponding batch, to be posted. If the brokerage is settled to an AR Credit Memo, an AR Credit Memo will be created in the host system for the Customer on the brokerage program. If the brokerage is settled to an AP Invoice, an AP Invoice will be created in the host system for the Vendor on the brokerage program.
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Once all values are entered correctly, click Save and close the Edit window or click Save & Close. The Edit window is closed and the Amount to Pay and the Remaining Amt columns are updated accordingly. Update the Settlement Date if required and Click Validate to validate the settlements. An informative message is displayed if e.g. settlement accounts are missing. Validate toolbar icon also updates the Total Settlement amount that is displayed on the upper right corner. Once Validation is complete, the Validate toolbar icon is changed to Process.
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