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International Commerce Provisioning System (ICPAY) is a niche special purpose trade finance product that automates trade payments for both import bill paying companies and authorized dealers (ADs) / Banks who process the payment in conformance with Central Bank procedures and guidelines. It is well tuned to meet the needs of the growing import regimes around the world and ensure zero defects in the processing of payments against imports while ensure maximum efficiency and visibility to productivity.
Features
» Automation of trade payments by integrating bank procedures
» Option to select Multi Client
» Document Lot Entry-To set total Invoice amount and number of covering letter's
» Generates outstanding excel of all invoices
» A2 payment is available
» Add Ins with Re-export, Realization
» Includes Query based search
» Navigates to check logged users
» Includes Maker and checker concept
» Blind entry option is available to confirm with the maker entry
» Record level locking is existing
» 30 days password change facility is enabled
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Administrator
» Role option is only for Super user
» Standardized comments can be added for rejection
» User unlock is feasible
» Includes details like Ports, Bank, Holidays, Service type, Clients, BD Begin, BD End, Suppliers
» SF-PT-PL (Sales Force-Product Type-Product Line)
» Logged users details can be viewed
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Transactions
» Document Lot Entry-to register the total invoice amount and the number of covering letter’s
» DLE batch has 7 types of selection.
1. Discrepancy Removal
2. Returning Retrieved Document
3. Re-Export Receivable
4. Re-Export Realization
5. Form A2
6. Advance Payment
7. Advance Payment Adjustment
» System auto-generates the DLE batch number.
» Discrepancy would be removed by linking the DRN number in discrepancy type.
» Re- Export Invoices can be tracked.
» Re-Export Realization occurs as FIRC/EBRC type.
» To receive the retrieved documents from the client and proceed to the normal process.
» Covering letter is the origination for the payment process
» When the Covering letter goes down to negative value, system generates the message to check the amount
» All the unapproved covering letter appears for the checker to approve the record
» Once the covering letter is approved , the record moves for BoE
» BoE screen is to track the sum of total invoice amount and the type of BoE
» Exchange rate accepts 3 Integer and 3 decimal values
» Invoice would be made for the approved BoE in Invoice section
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Save Active Batch
» Saving active batch is playing foremost part in the process starts from DLE batch till Invoice.
» Once the batch is saved, user cannot process any transaction for the saved batch.
» System generates DRN numbers incase of discrepancy
» The discrepancy could be removed by selecting the DRN number in the DLE removal batch.
» BoE, Invoice, HAWB missing are considered as discrepant
» Save active batch option is available only for the checker.
» Missing DRN could be removed with respective to their levels.
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Outstanding Excel / Approved bills upload
» Outstanding Excel -to generate the excel file for the approved invoice for the Inter Company and Third party
» The customer approves the payment against the invoice amount appears in excel.
» Selected file should be of the type Excel
» Approved bills upload -to upload the excel file which customer has sent back by giving the payment confirmation against the invoice
» Uploaded and the file sent to the client has to match except “ok to pay column”, else system generates message
» The approved invoice appears for awaiting /update payment process
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Form A1
» Followed by approved bills upload, the approved invoices appear in the awaiting form A1
» User can select the BoE to Prepare the Receipt for Form A1 or Generating Form A1 based on Supplier or BoE wise
» During this stage system generates the unique Form number.
» All the approved records from awaiting form A1 appears in update form A1
» Once the record approves, the record would move from the update to Due payment for the payment dispatch
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Re-Export
» Re-Export module deals with returning the defective goods to the supplier either before payment or after payment
Retrieve Re-Export
» To search the invoices for re-export
» It is applicable only to outstanding invoices.
» Batch has to be saved to retrieve the documents related to existing batch
Re-Export Receivable Invoice
» To create receivable invoice first DLE batch has to be set of the type Re-Export Receivable
» Re-Export Receivable invoice could be entered only for the retrieved records
Re-Export Realization
» Re-Export Realization occurs in case of re-export happening after the payment
» Re-export realization option from SET DLE batch has to be selected
» Value realized amount should be less than or equal to the re- export invoice balance amount
» The status of the invoice should be paid
Returning Retrieved documents
» By selecting the RRN number the record could be diverted to the start cycle.
» To process the retrieved record, batch has to be SET for the type Returning Retrieved document
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A2 full payment
» For services rendered to both Inter Company and Third party Supplier
» DLE batch of Form A2 has to be set for processing A2 Full payment
» Form A2 name is auto generated and auto populates in Form A2 details page.
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Generate FORMA2
» Generate FORM A2 with total amount for all Invoices, with same currency, same supplier, and same type of service.
» FORMA2 Full Payment
» A2 TDS Deposition
» To manage the TDS deposits to Government against form A2.
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Search and Query
» Query based search with predefined criteria
» Displays Transaction image and audit trail
» Search includes the following:
1. Covering letter number
2. BoE number
3. Invoice number
4. Covering Letter Date
5. Control Number
6. Covering Letter Reference
7. Retrieved Invoice
8. Form A2
9. Re-Export Invoice Number
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Reports
» DLE Batch summary
» Discrepancy Report
» Re-Export Report
» Client Report
» Supplier Report
» Payment report
» Outstanding Bills Report
» Dispatch Report
» FOC/SRFR report
» Ageing summary report
» Daily Activity Report
» Import Bills received Report
» Assessable value report
» Locked status report
» AdvancePayment Report
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