Bank Configuration for the US

If you have a Payroll or Payroll Interface implementation, you need to define your bank info, including banks, bank branches, and bank account numbers.

Note: If you're an HR-only customer, you may still want to add payee banking info even if payroll isn't being processed by Oracle Fusion HCM Global Payroll. For example, banking set up may be required for reporting purposes or because the data may be passed to other products, such as an expenses module.

Configuring banks involve multiple operations.

What you want to do	How you do it
Configure employee options for bank details	Use the Cash Management Profile Options task.
Define banks and bank branches	Use the Banks task in your implementation project.
Define bank accounts	Use the Bank Accounts task from your implementation project.
Enable search by routing number	Use the Manage Standard Lookups task to make it easier for employees to find and select their bank accounts by searching for their routing number.
Define organization payment methods	After setting up the banks, bank branches, and bank accounts, you must define the payment methods used within the organization. For further info, see Organization Payment Methods for the US in the Help Center.
Issue retiree payments to rollover institutions	Define an appropriate Voluntary Deductions element for the retiree, and submit a check request.
Configure prenotifications	You must specify the necessary prenotes on the appropriate organization payment methods. For further info, see Prenotifications for the US in the Help Center.
Perform optional configuration	Consolidation groups and payroll definitions are normally concepts related to payroll. However, if you're an HR-only implementation, you may need to assign banking details to employees. In this case, you must define these objects. For further info, see following in the Help Center. Consolidation Groups for the US Payroll Definitions for the US

For further info, see the following sections.

Configure Employee Options for Bank Details

Employees can enter their bank details using the Personal Payment Methods task through their employee self-service. Use the CE_USE_EXISTING_BANK_BRANCH profile option to define what settings are available to them.

To define the fields the employees can use to configure their bank details:

1. Start the Cash Management Profile Options task.

2. Search for the CE_USE_EXISTING_BANK_BRANCH profile option.

3. In the search results, select the profile option.

4. In Profile Values, select the Site profile level.

5. Set the profile value.

   Profile value	What it does
   Yes	Allows employees to select their banks and branches from a predefined list. You must have previously defined this list through either the Create Bank and Create Bank Branch tasks or the mass upload process.
   No	Allows employees to set their bank and branch details through free text fields.

6. Click Save and Close.

Define Banks and Bank Branches

No banks or bank branches are predefined. You must configure them before you can enter bank accounts and payment methods payees. Do this manually or do it through a mass upload process.

To manually define banks:

1. Sign in with a role that has cash manager privileges, such as CASH_MANAGER.

2. Start the Banks task from your implementation project.

3. Click Create.

4. Provide the necessary info.

5. Click Save and Close.

To manually define bank branches:

1. Sign in with a role that has cash manager privileges, such as CASH_MANAGER.

2. Start the Bank Branches task from your implementation project.

3. Click Create.

4. Provide the necessary info.

5. Click Save and Close.

Oracle Fusion Financials for the Americas provides predefined bank account details. For further info, see Employee Bank Account Rules by Country: Oman to Vietnam in the Help Center.

Define Bank Accounts

Once you have set up banks and branches, you must define the bank accounts needed for your organization. The Implementation Teams normally set up bank accounts at an organizational level, such as the source bank accounts for payments. You must set up the bank accounts at the individual payee level.

No bank accounts are predefined.

To define bank accounts:

1. Start the Bank Accounts task from your implementation project.

2. Click Create.

3. On Create Bank Branch, provide the required info.

4. To use this bank account for processing payments related to payroll, select Payroll for Account Use.

5. Click Save and Close.

Enable Search by Routing Number

If you allow employees to select their own bank accounts through Self-Service, you can make this easier for them by enabling search by the routing number. This way, they don't need to know their bank or branch details.

Use the Manage Standard Lookups task to add this lookup code.

Lookup type	Lookup code
ORA_IBY_CONTROLLED_FEATURES	IBY_BRANCH_NUM_SELECTION

Issue Retiree Payments to Rollover Institutions

A retiree can designate all or a portion of their payments to a rollover institution.

To configure these payments:

1. Define a Voluntary Deductions element for the person.

2. Submit a check request through your Accounts Payable department with the appropriate payment details.

For example, your retiree receives a monthly pension payment of $1000, so you define a Voluntary Deduction for it. After payroll processing, an Oracle Fusion General Ledger account holds this money, while your Payroll Department issues a check request to Accounts Payable. This check would be payable to the rollover institution.