4.3.1.1 Manage Payments : Brief Description

Brief Description
Business Process: 4.3.1.1 CC&B v2.5 Manage Payments
Process Type: Sub-Process
Parent Process: 4.3.1 CC&B v2.5 Perform Settlement Activities
Sibling Processes:
This process describes the management of Payment activities. A payment includes the total amount paid as well as the form of payment including cash, check, or credit card. This is called the Tender. CC&B accepts multiple Tenders for a Payment. This information is placed on a Payment Event. The Payment can be applied to one or more Accounts. The Account making the Payment is referenced as the Payor, and the Payee is the Accounts the funds are allocated to. There is a corresponding Payment Segment and associated Financial Transaction for each Service the customer has with the organization.
Although most Payments are uploaded through Batch processing, the CSR or Authorized User has full capability to similarly add and maintain Payments online. The CSR or Authorized User can use the Payment Portal, Payment Event Add, Payment Event Quick Add, or Payment Quick Add functionality. When a Payment is added, it is applied to Service Agreements based on debt age and Service Agreement priority. This is based on the organization's established business rules and is configurable. When errors are detected online or in batch, the Payment is saved with an error status for review.
Payments come from a variety of sources. Included are electronic payments, payments at a cashiering station, lockbox, mail, and other electronic payments from third party sources. Payments for miscellaneous services called Non-CIS Payments are also processed.
The customer is responsible for payment by a given due date. If the Customer does not pay, CC&B can detect the overdue amounts and provide notification.

© 2011 Oracle and/or its affiliates. All Rights Reserved