Understanding Pay Cycle Processing
The Pay Cycle process is a flexible tool. You can review payments after specific processing steps—such as after payment selection and before payment creation—and correct exceptions before proceeding to the next step. Or you can run the Payment Selection and Payment Creation processes together if you do not need to review the payments after selection. If you have a large payment run and only a very small percentage of exceptions, you do not have to delay payment processing—you can continue the current pay cycle, resolve exceptions, and then process the payments in a different pay cycle run.
The centerpiece of payment processing in PeopleSoft Payables is the Pay Cycle Application Engine process (AP_APY2015), which creates the payments. Various output processes then transform these payments to flat files that are sent to the financial institution for settlements.
Pay Cycle is also integrated with PeopleSoft Financial Gateway processing. PeopleSoft Financial Gateway handles electronic settlements between PeopleSoft Payables and financial institutions, formatting payments, and sending acknowledgement messages between the systems.
Setup for pay cycle processing comes in two stages:
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Optionally, you tailor your Pay Cycle processing to your needs by defining processing steps that you can administer separately.
Although the delivered steps satisfy most users' needs, you can also configure and add your own user-defined steps to the Pay Cycle process.
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You create reusable sets of payment selection criteria, called pay cycles.
Note:
If you want the Pay Cycle process to process payment information from sources other than PeopleSoft Payables, you perform an additional setup step: configuring the PeopleSoft Payables payment interface to accept those outside payment sources.
If you want the Pay Cycle process to replace bank accounts automatically for payments that meet certain selection criteria, you must define bank replacement rules.
Positive Payment is not supported by the Pay Cycle Job process.