Your customers can send payments to you in a variety of ways. For example, Receivables accepts payment via:
Cash or check
Credit cards or purchase cards
Electronic funds transfer via:
Automatic Clearing House (ACH) bank account transfer
Non-ACH direct debit
With payments by cash or check, you enter and apply the receipt after you receive it.
To accept or initiate an electronic payment, however, you must complete some additional setup.
See: Credit Cards.
Receivables supports the acceptance of purchase cards, also known as procurement cards, from your customers. You accept purchase cards just as you accept credit cards; the two procedures are the same.
Purchase cards offer multiple benefits to both the merchant (you) and to buyers (your customers). For example, fees charged to merchants for purchase card transactions are generally less than those charged for credit card transactions. On the buyer side, purchase cards help to streamline the order process by reducing paperwork and automating spending limits.
To let your customers pay by ACH bank account transfer, you must:
Define a receipt method with a payment method of Bank Account Transfer. See: Receipt Methods.
Assign this receipt method to an automatic receipt class. See: Receipt Classes.
Enter bank information for the ACH depositing bank and assign the receipt method and payment instrument to the transaction (in the Payment Details region of the Transactions window).
Set the Sequential Numbering profile option to 'Always Used' or 'Partially Used.' Next, define an automatic document sequence, or use an existing sequence, and assign it to the document category that Receivables automatically created for this ACH receipt method. See: Setting Up Document Sequences.
You use the Receivables remittance process to initiate the ACH payment. Oracle Payments handles the external processing of credit card payments and ACH bank account transfers.
See: Enabling the Funds Capture Process.
To let your customers pay by non-ACH direct debit, create a new receipt method, or use an existing receipt method, whose payment method is Bank Account Transfer.
You use the Receivables remittance process to initiate the direct debit payment. Oracle Payments also handles the external processing of these payments.