Defining Payment Methods for the Enterprise
Within these payment method types, you can define as many payment methods as you require for your enterprise. When you create a payroll you can select which of these methods are valid for employees assigned to that payroll. You select one of these methods as the default method for the payroll.
Employees can be paid by one or more of the valid methods for their payroll. You select the appropriate methods and enter bank account information, if required, in the Personal Payment Method window. If you do not enter any personal payment methods, the employee is paid using the default method for his or her payroll.
You can also define payment methods for third party payments, such as court-ordered wage attachments. Third party payments are always made by check, so methods for these payments must have the type Check.
Define payment methods for the enterprise in the Organizational Payment Method window.
To define a payment method:
1. Set your effective date to the date you want to begin using the payment method.
2. Enter a name for the payment method, and select its type.
You can create as many payment methods for each type as you require. For example, if you have different source bank accounts for different payrolls, you must create separate payment methods.
3. The base currency for the Business Group appears. For some payment methods, you can select another currency.
4. Select the Third Party Payment check box if this method is for making payments to third parties, for example for employee benefits or court-ordered deductions.
5. Enter the Bank Details field to open the Bank Details window. Enter information about the account from which payments are coming.
6. Enter Further Information if your Oracle localization team has defined extra fields in this protected flexfield.
Defining a Payroll
Entering Payment Methods for an Employee Assignment