Processing payments
Creating payments for vendors and issuing them is one of the critical aspects of PeopleSoft AP module. PeopleSoft offers a wide range of payment methods that can be used to create payments: ACH (Automated Clearing House), System Check, Wire Transfer, Electronic Funds Transfer, Drafts, Giro-EFT and Letter of Credit. A batch process known as Pay Cycle (AP_APY2015) is used to select the eligible vouchers and create payments for them.
We'll discuss the following important steps involved in payment processing using the Pay Cycle:
- Configuring pay cycle steps
- Configuring pay cycle step group
- Specifying payment selection criteria
- Executing pay cycle batch process
Configuring pay cycle steps
Pay cycle is a group of multiple steps, each ...
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