Set Up International Payment Sources in Organization Payment Methods

This example demonstrates how to set up international payment sources when defining organization payment methods.

In this example, the InFusion US company maintains a division in Sweden. It pays its Swedish workers by electronic funds using international ACH transfer (IAT) payments.

The following summarizes the key decisions for this scenario.

Decisions to consider	In this example
What is the destination country of these payments?	Sweden
How many organization payment methods are needed?	One method to pay by international transfer in US dollars.
How many payment sources are needed?	One for each payment source
Is notification required to alert the source financial institution before processing EFT payments?	Yes, 10 days before international payments.

Setting up an international payment source involves:

1. Fulfilling the prerequisites.

2. Setting up an organization payment method (OPM).

3. Configuring the notification setting.

4. Setting up the payment source.

For further info, see the following sections.

Before You Begin

This example assumes you have already set up the following for your organization payment methods.

1. You set up the primary ledger in Oracle Fusion General Ledger, and it is available for use.

2. You set up the banks, branches, and account info to use as the payment sources in Oracle Fusion Cash Management.

3. You have assigned the legal entity associated with the legislative data group (LDG) to a general ledger.

4. You have set up your TRUs.

Set Up the Organization Payment Methods

You must define an OPM for handling international transactions.

1. Start the Organization Payment Methods task.

2. In Search Results, click Create.

3. Select a US LDG.

4. Select the date when you want this payment method to be available for use, and then click Continue.

   Select a date that is on or before the effective date of the payroll definition or other objects that use this payment method.

5. In Basic Details, complete the following.

   Field name	What you enter
   Name	Payroll Direct Deposit Sweden
   Payment Type	International Transfer Note: The available payment types for organization payment methods can vary by legislation.
   Currency	US Dollar

6. Click Save.

Add the International Transfer File Info

When you select the International Transfer payment type, you can enter info at the following levels:

• Organization payment method

• Payment source

• Both levels

Note: International Transfer file info you enter at the payment source level takes priority over info entered at the OPM level.

In this example, set the International Transfer info at the OPM level. Use this level because your company requires notification of planned transfers within 10 days before the transfer date.

1. In Payment Information , enter the following.

   Field name	What you enter
   Prenotification Required	Yes
   Prenotification Days	10

2. Click Save.

Set Up the Payment Source

Set up a payment source specific to this particular bank and branch in Sweden.

1. In Payment Sources under Payment Source Information, click Create.

2. On the Create Payment Source page, complete these fields.

   Field name	What you enter
   Name	Payroll IAT Source Sweden
   Bank Account Name	InFusion Bank of Sweden
   Bank Reference	12345678
   Company Reference	456789012

   Keep your payment source names unique and as specific as possible for each scenario. This naming convention helps when managing complicated combinations of organization payment methods and payment rules.

3. Click Continue.