Bank Transfer Overview (Oracle Receivables)
The payment collection process involves a series of transactions between a
supplier, customer, and a bank. A supplier starts the payment collection process
after the supplier creates an invoice for the customer. The supplier generates
collection documents based on the invoice payment terms and sends information
about these documents to a collection bank. After the collection bank collects a
payment from the customer, the bank transfers the payment information to the
supplier to create receipts and apply the information to the customer’s balance.
