Payment Acknowledgement Import : R12.2 out-of-box Feature

Posted on December 4th, 2013 by Sanjit Anand | Print This Post | Email This Post

Payment acknowledgement processing is widely used in various countries in US and EMEA region where Bank provide the acknowledgement/Confirmation.

If you have some customization in existing EBS , and planning to use R12.2 in near term, you can take advantage of out-of-box feature .

This new functionality that has been added to Oracle Payments that allow you to import payment acknowledgement reports containing payment status for bank received payment files.

A "Payment Acknowledgement" for supplier payments in Oracle Payments/Payables is a file that confirms for the payor that their electronic payment (sent to a payee's bank) was successfully transmitted and received ("acknowledged") by the bank. Therefore, this type of Payment Acknowledgement processing starts after successful transmission of the payment file to the supplier's bank. Once the bank receives the payment file, the process generates the acknowledgement file.

With this Import you can :

• Map bank acknowledgment codes with system defined acknowledgment codes
• Import acknowledgment data
• Import multiple acknowledgments per payment
• Review acknowledgment details including bank reported errors and status

Remember , Payment acknowledgment is supported only at payment level.

1. Know the Changes because of R12 Oracle Payment Module (Fund Disbursement) in EBS
2. Bank Statements – in Oracle Cash Managment Prospective
3. “Refund” Payments Functionality in R12
4. Refund Functionality in R12
5. Why “Alternative Payee” is missing in Oracle Payable/Payment