Resolving Confirmation of Payee Issues and Errors

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 checking the bank details for an account with the bank, if the details entered in IRIS Financials do not match the bank's record, a message with further information is displayed.

For bank details that do not match the bank's records, depending on what does not match, you must follow the instructions to complete the Confirmation of Payee process.

Bank Details that Partially Match

Bank details that partially match the bank's records, such as the account Title, display a warning that allow you to accept the details, or you cancel the check and leave the details unconfirmed with the bank.

Bank Details that Do Not Match

When the bank details entered do not match the bank's records, such as the Account number, an error message is displayed.

To reduce the risk of payments failing during a payment run, we recommend choosing to leave the details unconfirmed, and contacting the person who provided the details to check them.

If you have checked and confirmed the details are correct with the person who provided them, check the details with the bank again, and if the error continues to display you can override the validation if required.

Confirmation of Payee (CoP) limitations

Confirmation of Payee (CoP) verifies that the account number and sort code correspond to a real account. It also checks the entered account name against the bank’s records.

However, CoP does not confirm that the account belongs to your intended supplier, or that the supplier identity is correct.

For example, you might accidentally enter bank details for 'XYZ Company' on the supplier record for 'ABC Company'. If the account details are valid, CoP might return a match or close match, meaning you could easily overlook the mistake.

You must manually confirm that you hold the correct bank details for your supplier. Do not rely on CoP alone to verify supplier identities.