Oracle® Fusion
Applications Workforce Deployment Implementation Guide 11g Release 6 (11.1.6) Part Number E20379-06 |
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This chapter contains the following:
Entering Bank Information for Personal Payment Methods: Critical Choices
Payroll Setup for Banks and Cash Management: Explained
Bank, branch, and bank account information is shared across multiple applications. For example, if you add an employee's bank details for expense payment, the same bank details are available for managing electronic funds transfer (EFT) payment details for that employee. Who enters bank information depends on how security is configured at your site.
The configuration choices are:
Enter bank information centrally
Enter bank information on the Manage Personal Payment Methods page
By default, only cash managers can enter banks and branches. They use the Set Up Bank, Branches, and Accounts task list in the Setup and Maintenance work area.
A web service is also available to migrate personal payment method information, including employee bank account details, from external sources.
By default, on the Manage Personal Payment Methods page, employees can enter their own bank account details for existing banks and branches, but they cannot create new banks and branches. Similarly payroll managers, payroll administrators, and payroll coordinators can enter account details for the employees they handle, but they cannot create new banks and branches. If you want to enable the create option for any of these roles, you must add the Bank and Branch Management duty role to the relevant role.
It is not possible to edit bank and branch details on the Manage Personal Payment Methods page. You must use the Set Up Bank, Branches, and Accounts task list to edit existing banks and branches.
Important
If you enable employees or other roles to create banks and branches, provide guidance to use unique names and follow appropriate naming conventions.
Oracle Fusion Global Payroll integrates with Oracle Fusion Cash Management, which facilitates the setup of banks, branches, and bank accounts, and the reconciliation of bank statements with payment transactions.
A manager with the appropriate duty role, usually a Cash Management cash manager, creates the following information in the Setup and Maintenance area.
Banks, bank branches, and bank accounts for the payment sources used to issue payments
Transaction codes used in bank statements that you map to transaction codes that you set up for payment methods
Reconciliation Differences account and reconciliation rules, to support reconciliation of your payments with bank statements
Before you can set up banks, you must complete the tasks for payroll and Financials to set up a chart of accounts and ledger. This information is then used to set up banks. For example, when creating a bank for a payment source, you select a legal entity assigned to a ledger for the associated legislative data group.
Complete the following tasks to create banks for your payment sources.
Task |
Action |
---|---|
Manage Banks |
Create the bank information required for the payment sources used in your payroll transactions. |
Manage Bank Branches |
Create the bank branch information required for the payment sources used in your payroll transactions. |
Manage Bank Accounts |
Create the bank account information required for the payment sources used in your payroll transactions. |
If you cost your payments, complete the following tasks to set up and map transaction codes in Cash Management for the organization payment methods.
Task |
Action |
---|---|
Manage Bank Statement Transaction Codes |
Create transaction codes for the transaction types that support your organization payment methods. When creating the codes, refer to the transaction and statement codes that your enterprise currently uses. |
Manage Cash Transaction Type Mapping |
Map transaction types to payment types used for the organization payment methods that support costing of payments. Identify the organization payment methods for payroll accounts, such as payroll liability, cash, and cash clearing accounts. |
Payroll processes transfer your payment entries to Cash Management for manual or automatic reconciliation with bank statements, and cost the unreconciled and reconciled payments to the appropriate account, such as the cash clearing and cash accounts. A reconciliation difference account records discrepancies, such as over or under payments.
If you automatically reconcile payment transactions, complete the following tasks to set up tolerance and reconciliation rules in Cash Management. For manual reconciliation, you make decisions during the reconciliation process when matching bank statement lines and system transactions.
Task |
Action |
---|---|
Manage Bank Statement Reconciliation Tolerance Rules |
Create tolerance rules based on date, amount, or percentage that prevent or warn you when reconciliation exceeds a defined tolerance. |
Manage Bank Statement Reconciliation Matching Rules |
Define bank statement automatic reconciliation matching rules. |
Manage Bank Statement Reconciliation Rule Sets |
Assign a group of matching rules and tolerance rules to a bank account for reconciling bank statement lines with transactions. |
Manage Bank Accounts |
Specify the Reconciliation Differences account you set up in Oracle Fusion General Ledger to use for storing discrepancies that exceed the tolerance rules in the payment amounts reported in the bank statements. |