Funds capture refers to the automated funds capture process that enables the retrieval of customer payments (receipts) through electronic payment methods. To accomplish this funds capture process, Oracle Receivables integrates with Oracle Payments, the Oracle Applications payment engine.

With this integration, Payments provides a central repository for your customers' payment information and uses that information when interacting directly with third party payment systems and financial institutions. Payments handles all funds capture processing for Receivables transactions that have automatic receipt methods.

Oracle Payments captures funds for these types of Receivables transactions:

• Bank account transfers

  See: Remitting Electronic Payments.

• Credit card transactions

  See: Credit Cards.

• Bills receivable remittances

  See: Bills Receivable Remittance.

For a description of the overall Payments process flow, see: Funds Capture Flow Overview.

Setting Up Funds Capture by Oracle Payments

To enable the proper processing of electronic payments, complete the general Payments setup steps. See: Oracle Payments Implementation Guide.

In addition, be sure to complete these additional funds capture setup steps in Oracle Payments:

1. Define funds capture payment methods.

   The payment method is the payment medium which your customers use to remit payments.

2. Define funds capture process profiles.

   The funds capture process profile include processing rules for funds capture.

3. Set up first party payees.

   The first party payee is the company who is deploying Oracle Applications.

4. Set up credit card brands.

   Enable the credit card brands that the deploying company, or its organizations, accept for payment.

You must also complete these setup steps in Oracle Receivables:

1. Define automatic receipt methods, and assign a funds capture payment method.

   An automatic receipt method is a receipt method whose assigned receipt class has an Automatic creation method. See: Receipt Methods.

2. Assign default payment details at the customer account or site level.

   When you enter payment details, you create payment instruments (credit cards and customer bank accounts) for a customer account or site. This customer payment information that you create is actually stored in Payments for use during funds capture processing.

   See: Entering and Updating Account Payment Details and Entering and Updating Account Site Payment Details.

   Note: The payment details you enter at the customer account or site level default to that customer's transactions. You can also overwrite payment details at the transaction level. See: Entering Transactions.

Correcting Funds Transfer Errors

Oracle Payments manages funds transfer error handling.

For errors that Payments cannot successfully resolve, you can enable the automatic correction of funds transfer errors in Receivables. If the automatic correction feature is not successful or not enabled for specific error codes, then failed transactions display on the Correct Funds Transfer Errors page for manual correction.

See: Enabling Automatic Funds Transfer Error Corrections and Correcting Funds Transfer Errors.