Defining Draft Collection Methods

Page Used to Define Draft Collection Methods

Page Name	Definition Name	Usage
Collection Methods Page	COLLECT_BANK	Define collection information for the bank to which you send EFT files for drafts. See the PeopleSoft Banks Setup and Processing: External Accounts - Collection Methods Page for more information.

Defining Collection Information for Drafts

Use the Collection Methods page (COLLECT_BANK) to define collection information for the bank to which you send EFT files for drafts.

You must define the collection information for the bank accounts that receive the EFT files that you send.

Navigation:

Banking, and then Bank Accounts, and then External Accounts, and then Collection Methods

Select Draft in the Payment Method field. Then define the following additional information:

• If your organization uses document sequencing, assign document types for draft processing.

• Define the currency, minimum remittance amount, and the draft risk days.

• If you use discount drafts, define the credit limit information for discounts.

• Define the rules for determining the settlement date if the due date falls on a holiday.

• Define the EFT file attributes.