Confirmation of Payee
This guidance is only for IRIS Financials Version 7.0.2223 or later. If using version 7.0.2103 or earlier, or Version 6, this feature is not available.
When adding, changing, or updating bank details for accounts, the authenticity of the details can now be checked with the bank using Confirmation of Payee within IRIS Financials.
You can only do Confirmation of Payee checks if you have permissions to edit Payment Information.
Checking the bank details match the bank's records can help reduce the risk of payments failing during a payment run. We recommend running the Confirmation of Payee checks when adding, changing, or updating bank details for an account, but you can run the checks as often as required.