Overview of Managing Payables Collection Documents for Brazil

The Payables process completes with the payment of invoice installments. In Brazil, a collection document is received from a supplier or supplier bank, in either a manual or electronic format, and is associated with invoice installments, either manually or automatically.

You can make payments through various methods such as check, Bordero (Payment authorization), and electronic file transfer (EFT). EFT is used for the bank collection process. The interest and penalties are calculated for overdue invoices according to the legislation and agreed terms between the seller and buyer. You can configure these terms in the application, per business unit, supplier or even supplier sites.

You can use Oracle Financials Cloud to perform these tasks:

• Enter or import collection documents manually.
• Associate the documents to installments manually or automatically.
• Generate payments considering working days calendar.
• Calculate interest on late payments automatically.
• Make payments by exchanging payment electronic files with banks through custom EFT formats, which can be configured for various banks.

Here are the important steps involved in the overall Payables collection documents for Brazil: