There is a separate financial processing calendar for cash, check, EFT,voucher, and invoice delivery methods. Each one of these calendars stores the dates on which the organization will not be able to make payments using the particular delivery method, e.g. they may not be in a position to oversee the completion of batch payment processing. Therefore any payments that fall due on a payment exclusion date should be processed by a previous run of the batch processes. These dates are called payment exclusion dates.
For example, on December 25th (a public holiday), cash payments cannot be made as the organization's offices are not open. December 25th is marked as a payment exclusion date on the financial processing calendar for the cash delivery method. An EFT (electronic funds transfer) payment can be processed on the public holiday as no payment exclusion date is set up on the EFT financial processing calendar.
Prepayment requirements can be set up for payment exclusion dates. If prepayment is required, financial processing will occur on the nearest processing date prior to the payment exclusion date. For example, cash payments due on December 25th will be processed on December 24th, provided December 24th is not a payment exclusion date for cash payments.