Remittance Methods

PeopleSoft Receivables provides two processes to remit direct debits to the bank.

• You can generate an EFT file in PeopleSoft Receivables and send it to the bank manually or by using a third-party integration.

• You can use the PeopleSoft Cash Management Financial Gateway option to create an EFT file and send it to the bank.

When you create the bank account into which the funds should be deposited, you specify the EFT format layouts to use if the payment method is Direct Debit on the Collection Methods page. You can assign multiple layouts to the bank account, but you must specify the default layout. You specify the remittance method for each layout: Financial Gateway or EFT file (Format EFT). When you create a direct debit profile, the system populates the EFT Layout field with the default layout for the bank that you selected for the profile. You can override the layout with any other layout assigned to the bank account. You can also override the layout when you run the Create Direct Debits Application Engine process (AR_DIRDEBIT) with any layout assigned to the bank. The Create Direct Debit process assigns the remittance method to each direct debit based on the remittance method associated with the EFT file layout on the run control page.