The following points highlight important concepts related to payments:
A payment amount is ultimately directed towards an obligation via a payment segment.
If an account has multiple obligations that are in debt, the various payment segments created for the obligations may be grouped into a single Payment for the account.
A payment segment has a related financial transaction. A financial transaction contains the financial effects of the segment on the obligation's current and payoff balances and on the general ledger.
Canceling a payment cancels the financial transaction. If the payment is eventually cancelled, another financial transaction will be linked to the related payment segment(s) to reverse their financial effect. The cancellation financial transaction appears on the next bill produced for the account as a negative payment.
A payment cannot be applied to an account's debt without an associated payment event. Refer to The Big Picture of Payments for more information.
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