The remittance process is very similar to the automatic receipt creation process. You must Create, Approve, and Format your remittances. You can combine these operations into a single step or perform each separately.
Receivables lets you make cross currency deposits. You can deposit receipts into remittance bank accounts that are either in the currency of the receipt or that are in your functional currency, but have the Receipts Multi-Currency field set to Yes. This provides greater flexibility in determining your remittance bank accounts.
Receivables supports two types of remittances:
Accounting of Automatic Receipts and Remittances
Automatic Clearing for Receipts
Remittance Batch Management Report