Notification Letter

Electronic File Transfer (EFT) by magnetic media

In both formats, invoices are paid by notifying your bank to debit your account and credit your supplier's account with the appropriate funds. You might need to print a Separate Remittance Advice for either format.

Manual payments are the same as the Notification Letter format and automatic payments associated with the magnetic-based files (EFT). Oracle Payables lets you set up both payment formats with either or both manual and automatic payment processing.

The following section details the requirements for both the Notification Letter Banking Transfer Order and the (EFT) magnetic media Wire Payment formats.