Oracle Payables integrates with Oracle Payments to create payments for your Payables transactions. Oracle Payments provides a central repository for your suppliers' payment information. Oracle Payments supports several payment methods for funds disbursement payments, including:
Checks.
Electronic funds transfers (EFT).
Wire transfers.
Bills Payable.
For additional information, see: Understanding Funds Disbursement.
Both the funds capture and funds disbursement processes have setup tasks in common. These shared setup steps must always be performed, whether you are using only the funds capture features of Payments, only the funds disbursement features, or both. Complete these setup steps in Oracle Payments:
Set up system security options.
Use the System Security Options page to set security options for payment instrument encryption, masking, and credit card control.
Use the Validations page to ensure that funds capture and funds disbursement transactions are valid, in addition to being correctly formatted before they are printed or submitted to payment systems.
Set up Oracle XML Publisher templates.
Use the Create Template page to correctly format funds capture and funds disbursement transactions.
Use the Create Format page to associate payment formats with specific Oracle XML Publisher templates. You can assign validation sets to validate transactions that use that format.
Oracle Payments predefines several payment formats that you can use. See: Country-Specific Payment Formats.
Set up transmission configurations.
Use the Create Transmission Configuration page to implement a specific transmission protocol, which allows the delivery of a transaction to a specific payment system or financial institution.
Use the Create Payment System page to define the external organizations that Oracle Payments collaborates with to process your funds capture and funds disbursement transactions. Payment systems are not required for printed funds disbursement payments.
To enable the proper processing of payments, complete these setup steps in Oracle Payments:
Set up funds disbursement payment methods.
Use the Create Payment Method pages to define a medium by which the first party payer, or deploying company, makes a payment to a third party payee, such as a supplier.
Set up payment method defaulting rules.
Use the Create Defaulting Rules page to define rules when payment methods default onto a document payable, such as an invoice.
Set up bank instruction codes.
Use the Create Bank Instruction Code page to define codes that provide the payment system or bank with additional details about how the country-specific payment is to be processed.
Set up delivery channel codes.
Use the Create Delivery Channel Code page to define codes that provide the payment system or bank with additional details about how the country-specific payment is to be delivered to a payee.
Use the Create Payment Reason Code page to define codes that provide the payment system or bank with additional details about the reason for the payment for regulatory reporting purposes.
Set up payment process profiles.
Use the Create Payment Process Profile page to define payment process profiles, which, comprise of several types of payment processing information, including specifications for formatting and transmission.
Set up disbursement system options.
Use the Disbursement System Options page to define disbursement system options that control disbursements made by the first party payer to suppliers.