Use the Remittances window to create a bills receivable remittance batch. All bills receivable with the status Pending Remittance are eligible for selection. In creating a bills receivable remittance batch, Receivables uses the currency and the remittance bank information to select bills receivable. You can specify additional selection criteria to limit the bills that are selected for remittance.
Note: Bills receivable with the status Unpaid are eligible for selection if the Include Unpaid Status box is checked in the Criteria tabbed region.
Based on the remittance bank information of the batch, Receivables selects bills receivable that have:
the same remittance bank account as the remittance batch, and
no remittance bank account, and
a different bank account from that of the remittance batch, if the Allow Override box is checked for the remittance bank.
Note: You can change the batch remittance bank information after the remittance batch is created. However, you will receive a warning if the remittance bank of any bill receivable in the batch is different from the new remittance bank of the batch, unless the Allow Override box is checked on that bill receivable.
You can create a bills receivable remittance batch using the Auto Create method or the Manual Create method. Auto Create selects all bills receivable that meet the selection criteria of the batch. Manual Create gives you the option to review the bills receivable and change the bills selected before creating the batch.
There are three steps to creating a bills receivable remittance batch:
Create: Create a bills receivable remittance batch using the specified selection criteria.
Approve: Initiate the accounting event for the specific type of bills receivable remittance.
Format/Print: Format bills receivable remittance batches on magnetic media to send to your bank (or choose Print to print bills receivable on paper).
With either creation method (Auto Create or Manual Create) you can also create, approve, and format/print remittance batches in a single step.
You can track the progress of a bills receivable remittance batch by referring to the batch process status. Valid statuses are:
Started Creation
Started Approval
Started Format
Started Cancellation
Completed Creation
Completed Approval
Completed Format
Completed Cancellation
When you create a remittance batch, Receivables validates the status, currency, and remittance bank information of the bills receivable included in the batch. Receivables then selects bills receivable in maturity date order, starting with the earliest maturity date.
Note: Once a bill receivable is selected for a remittance batch, you cannot apply customer payments or other activities to the bill, or select the bill for another remittance batch.
Prerequisites
Define remittance bank accounts.
See: Bank Account Model Overview, Oracle Cash Management User Guide.
Define a receipt class with a creation method of bills receivable remittance.
Define bills receivable remittance receipt methods and assign bank accounts to receipt methods.
Navigate to the Remittances window. The Batch Type displayed is Remittance Bills Receivable. You cannot change the Batch Type.
Select an operating unit.
If your Receipt Source does not specify Automatic Batch Numbering, enter a unique Batch Name or number. Otherwise, Receivables assigns a number when you save. See: Receipt Sources.
Enter the Currency for this batch. The default is your functional currency, but you can change it. You can only group bills receivable with the same currency into a remittance batch.
Enter the Remittance and GL Dates. The default Remittance Date is the current date, but you can change it. The default GL Date is the current date. However, if the current date is not in an open period, then the default is the last date of the most recent open period. The GL Date must be in an open or future period. The GL Date determines when the remittance batch is posted to General Ledger.
If your format requires that you submit to the remittance bank printed bills receivable along with the magnetic transmission, check the Include Printed Bills Receivable box. This box is required if you are using the Spanish Bills Receivable CSB32 Template for the remittance.
Choose a Remittance Method. The default is Factoring. Choose Standard to remit this batch to the bank for collection of the bills receivable on maturity date; or choose Factoring to borrow money against the bills receivable before maturity date.
Note: If you choose Factoring, the With Recourse box is checked by default. Use this check box to indicate whether the bank has the right of recourse in the event a customer defaults on the bills receivable. The box is unchecked if you choose Standard.
Choose a Receipt Class. The list of values displays only receipt classes with a creation method of Bills Receivable Remittance and a Remittance Method for the batch. The receipt class determines the processing steps of the remittance.
Choose a Receipt Method. The list of values displays only receipt methods assigned to the Receipt Class with a Remittance Method for the batch. You can select only active receipt methods for remittances.
In the Media Reference field, enter your user-defined reference to include on a magnetic transmission of the remittance to the bank (optional).
Enter Remittance Bank information for this batch. You can only select a remittance bank that has bank accounts assigned to the receipt method selected for this remittance batch. The default is the primary remittance bank account of the receipt method, if the primary remittance bank account is in the same currency as that of the remittance batch.
Choose the Print Program. Receivables uses the Print Program for the print format on paper. The default is the print program that you selected for the remittance bank, with the remittance bank assigned to receipt method of this batch. You can override the default for this program.
Enter the Deposit Number reference to include in the magnetic transmission of the remittance batch (optional).
Enter any Comments about this batch.
Note: The Count and Amount fields display the number and total amount of bills receivable selected for this remittance batch. Receivables assigns a unique Request ID number for your concurrent request every time you run a task or tasks from the Remittance Batch Actions window. Use the Request ID to check the status of your remittance process in the View Requests window.
Open the Selection Criteria tabbed region, and enter selection criteria to create a remittance batch for specific bills receivable transactions or drawees (optional). Leave a field blank if you do not want to limit your query. See: Selection Criteria Tabbed Region Field Reference.
Choose Auto Create or Manual Create. If you choose Auto Create, go to step 18.
Manual Create lets you review, in the Maintain Remittance Batch window, bills receivable that meet the selection criteria of this batch. Check the Select box to include a bill receivable in the batch, or choose bills receivable from the list of values. See: Maintaining Bills Receivable Remittances.
Select Actions.
In the Remittance Batch Actions window, check the boxes to perform the following tasks:
Create: Create a remittance batch of bills receivable. Receivables checks the Select box in the Bills Receivable Portfolio Management window to indicate that bills receivable were selected for a pre-approved remittance batch.
Cancel: Cancel a remittance batch that was not approved. This deselects bills receivable from the batch, making them available for inclusion in a different remittance batch.
Approve: Approve the remittance batch to initiate the accounting event that reclassifies the bills receivable that were selected for remittance. Depending on the remittance method, the status of the bills receivable is updated to Standard or Factored.
Format: Format the remittance batch using Oracle Payments.
Print Report: Print the Bills Receivable Remittance Batch Management report for this remittance batch. You can print a report for the remittance in any status. See also: Bills Receivable Remittance Batch Management Report.
Print Bills: Run the Print Program that you selected for this batch to print bills receivable on paper.
Suggestion: To create a bills receivable remittance, you need to Create, Approve, and Format/Print. You can perform all three tasks in one step.
Click OK . Receivables generates a batch Name if your Receipt Source specifies Automatic Batch Numbering. Receivables displays the Process Status of your batch and a unique Request ID number for your concurrent request. Use the Request ID number to check the status of your remittance batch in the View Requests window.
Attention: If your batch has a status of Started Creation and the concurrent process terminates, you must delete the batch and resubmit the bills receivable remittance creation process.
Suggestion: Use the Bills Receivable Remittance Batch management report to review the status of your bills receivable remittance batch.
Remittance Minimum Total: Enter a minimum amount for this remittance batch. Receivables does not create a remittance if the total amount of the selected bills receivable is less than the minimum total specified for the batch.
Remittance Maximum Total: Enter a maximum amount for this remittance batch. Bills receivable with the earliest maturity dates are selected first.
To ensure that the total amount of bills receivable is as close to the maximum total as possible, Receivables selects a bill receivable for inclusion in the batch if the bill maturity date is within the maturity date range of the batch, and if including the bill does not cause the remittance total to exceed the maximum amount.
Bills Receivable Transaction Type: Specify the bills receivable transaction types to include in the batch.
Bills Receivable Maturity Dates: Select bills receivable by a range of maturity dates.
Bills Receivable Numbers: Select bills receivable by a range of bill numbers.
Bills Receivable Amounts: Select bills receivable by a range of bill amounts.
Drawee Issued: Check this box, and leave the Signed and Unsigned boxes unchecked, to include only bills that are issued by drawee.
Signed: Check this box to include only bills receivable that require drawee acceptance. Leave the box unchecked to include only bills receivable that do not require drawee acceptance.
Unsigned: Check this box, and leave the Drawee Issued and Signed boxes unchecked, to include only unsigned bills receivable.
Include Unpaid Status: Check this box to include bills receivable with the status of Unpaid.
Drawee Names: Select bills receivable by a range of drawee names.
Drawee Numbers: Select bills receivable by a range of drawee numbers.
Drawee Classes: Select bills receivable by a range of drawee customer classes.
Drawee Bank: Select only bills receivable for drawees with the specified drawee bank name.
Drawee Branch: Select only bills receivable for drawees with the specified drawee bank branch.
Bills Receivable Sort Criteria: The primary sort criteria for the selected bills receivable is maturity date in ascending order. You can specify additional sort criteria, in ascending or descending order, by bills receivable transaction Number or Amount, or by bills receivable Transaction Type.
Drawee Sort Criteria: You can sort in ascending or descending order using one of the Drawee selection criteria. This sort comes after the maturity date and bills receivable sort criteria.