Configure Virtual Card Statement Processing for J.P. Morgan

At the end of each billing cycle, J.P. Morgan sends the statement of transactions incurred on the card account to Oracle Cloud ERP. The card statement is automatically imported, reconciled, and recorded as a payment request invoice.

Configure Approval Rules for Unreconciled Statement Lines

Oracle Cloud ERP records any transaction lines that aren't reconciled to a virtual card payment, as a separate payment request and sends it for approval separately. Configure the approval rules to route the request to the correct user who will review the transactions.

Use the Manage Payables Workflow Rules task to configure approval rules for unreconciled lines. Follow these steps:

Go to Navigator > My Enterprise > Setup and Maintenance > Financials > Payables > Manage Payables Workflow Rules.
In the Rule Templates section, select Invoice Approval and download the relevant invoice approval rules template.
Open the template and go to the Invoice Approval Rules tab.
In the Invoice Header column, add the Invoice Source attribute.
Enter ORA_FC_STATEMENT as the Invoice Source for the approval rule.
Select Reference1 as the next column after Invoice Source.
Add the required approval rules for the following Reference1 values:
- Reconciled transaction lines have a value of RECONCILED.
- Unreconciled transaction lines have a value of NON-RECONCILED.
- Lines with charges (late fees) have a value of CHARGES.
Save the template.
Return to the Manage Payables Workflow Rules page and upload the modified Invoice Approval Rules Template.
Select Done.

Configure Remittance Advice Sent to J.P. Morgan for Statement Payment

J.P. Morgan requires a separate remittance advice file after submitting the payment for the card statement. This specific SRA format allows J.P. Morgan to credit the amount to the correct billing account.

Use the Manage Formats task to create the remittance advice format and then use the Manage Payment Process Profiles task to configure remittance advice for J.P. Morgan. Follow these steps:

Go to Navigator > Tools > Reports and Analytics.
Select Browse Catalog.
Go to Shared Folders > Financials > Payments.
Select Edit on the Disbursement Separate Remittance Advice Formats report.
Select Edit on the Separate Remittance Advice layout to download the separate remittance template.
Rename the file as JPM_SRA.rtf.
Add a new line after the Payment Amount attribute row.
Enter Billing Account Identifier as the label.
Copy and paste the Payment Amt field in the cell next to the Billing Account Identifier label.
Double-click the newly created Payment Amt field.
In the Text Form Field Options dialog box, enter the value of the Default text field as Billing Account Identifier.
Select Add Help Text.
Replace the existing text in the Type your own field with <?UniqueRemittanceIdentifier/Number?>.
Select OK to close the dialog boxes and save the file.
Go back to the Disbursement Separate Remittance Advice Formats report and select Add New Layout.
Select Upload and enter the following fields:
- Layout Name: JPM_SRA.rtf
- Template File: <Select the template file that you saved earlier>
- Type: RTF Template
- Locale: English
Select Upload.
Go to Navigator > My Enterprise > Setup and Maintenance > Financials > Payments > Manage Formats.
From the Select Type drop-down list, select Disbursement Separate Remittance Advice Formats and then select Create.
Enter the following fields:
- Name: JPM_SRA
- Code: JPM_SRA
- Template: JPM_SRA
Select Save and Close.
Go to Navigator > My Enterprise > Setup and Maintenance > Financials > Payments > Manage Payment Process Profiles.
Search and select the Payment Process Profile that will be used to make payments to J.P. Morgan for the virtual card statement.
From the Reporting tab, go to the Separate Remittance Advice section, and select the following:
- Format: JPM_SRA
- Automatically Generate Remittance Advice: When payments are confirmed
- Delivery Method: Email with .pdf as attachment
Select Save and Close.