CHAPTER7Payments Setups
Oracle Procure-to-Pay Guide racle Payments, new in R12, is a consolidated hub for grouping transactions for settlement, and creating the appropriate payment format for printing or transmission to the bank. More than just a way of generating checks and ACH (Automated Clearing House) settlements for invoices, Payments integrates with Payables for invoice settlements, Cash Management for bank transfers, and Receivables and iStore for credit card settlement. This chapter will focus on the Payables portion of the module.
Previously, payment batches were created based on user inputs, and settled as individual batches. The ability to generate custom payment formats required customizations to the Payment Format Programs. All this ...
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