Payment creation options
Creating payments
The Create Payment page allows you to identify the business unit and supplier for the payment. The page also allows you to identify details about how you want to process the payment.
You must select a payment type for each payment. You can create the following:
Manual payment: A payment initially created outside the Payables application and manually entered into Payables
Quick payment: An individual payment you enter without submitting a payment process request
Refund: A negative-amount payment that lets you close a credit balance that is still outstanding
You must select a disbursement bank account and a payment method, which is the method that your company uses to pay supplier invoices, employee expense reports, or customer refunds.
Payment methods include the following:
Electronic methods
Example: Electronic fund transfers (EFT) and wires
Printed methods
Example: Checks
Oracle Cloud includes a number of predefined payment methods, but your organization can also create custom methods.
Understanding payment process profiles
Once you have selected the payment method for the payment, you must select a payment process profile. The payment process profile determines how Payments uses document payable, payment file, and payment during the steps for payment process. Payment process profiles are payment characteristics assigned to documents payable.
Documents payable indicates how Payments manages documents payable, payment files, and payments within the payment process.
Various details related to payment file formatting, transmission, and other information are in payment process profiles. The system uses the payment method and other details to assign payment process profiles to documents payable. Then, the payment process profiles determine the next steps for the payment process.
The following list details the main purpose and functionality of payment process profiles:
What?: The message content, contained in a data extract, is formatted according to a template.
Who?: The message is sent to a payment system. The relationship between sender and receiver is a payment system account.
How?: The values that instruct the system on how to process the message are in the transmission configuration.
