Transaction Receipt Method for Customer Payments in Bill Management and Collections

Enable the option to default the remittance bank account defined on the receipt method of the transaction:

• in Manage Bill Management System Options for making payments from Bill Management dashboard.
• in Manage Collections Preferences for making payments from Advanced Collections.

Previously, the primary remittance bank on the receipt method defined in Receivables System Options was used for customer bank account payments.

Manage Bill Management System Options

Manage Bill Management System Options page

Set the Default Receipt Method from Transaction option to Yes in the Manage Bill Management System Options page. When you select Yes:

• The bank account or credit card related to the receipt method associated to the transaction is used for payments when the external customer makes a payment.
• The receipt method associated to the transaction and comments about the transaction are displayed in the Bill Management dashboard.
• You can search transactions by receipt method in the Bill Management dashboard.
• The receipt method associated to the transaction and comments are displayed in the Transaction History page.

Manage Collections Preferences

Manage Collections Preferences page

Set the Default Receipt Method from Transaction option to Yes in the Manage Collections Preferences page. When you select Yes:

• The bank account or credit card related to the receipt method associated to the transaction is used for payments when a Collector makes a payment.
• The receipt method associated to the transaction is displayed in the Collections dashboard for all invoices.
• You can search transactions by receipt method in the Collections dashboard.

Business benefits include:

• Payments can be directed to the appropriate customer bank accounts based on their line of business.
• Reduces the overhead of money transfer among bank accounts after payment.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

• The default value for the new attribute Default Receipt Method from Transaction is No.
• If Default Receipt Method from Transaction is set to No in Manage Bill Management System Options then:
  • receipt method defined in Manage Receivables System Options is considered while making payments.
  • the columns Receipt Method and Comments are not displayed in the Bill Management dashboard.
• If Default Receipt Method from Transaction is set to No in Manage Collections Preferences then:
  • receipt method defined in Manage Receivables System Options is considered while making payments.
  • receipt method is not displayed for open invoices.
• If Default Receipt Method from Transaction is set to Yes and a receipt method is not associated to the transaction then:
  • the bank account associated with the receipt method defined in Manage Receivables System Options is considered while making payments.
• If Default Receipt Method from Transaction is set to Yes and a receipt method is not associated to the transaction, and a receipt method is not defined in Manage Receivables System Options then:
  • the system will display an error when the user makes a payment.
• The user can select multiple transactions for payment, but all the transactions must have the same receipt method. If transactions with different receipt methods are selected, the system will display an error when user makes a payment.
• If the receipt method associated to the transaction has customer payment method as Credit card, and customer selects Electronic Fund Transfer as payment method while making payment, then the receipt method defined in the Manage Receivables System Options will be considered for the payment.

Key Resources

• For more information on making payments from Bill Management and Advanced Collections refer to the documentation of Using Receivables Credit to Cash:
  • Make Online Payments under Manage Bill Management section
  • Process Collections Payments under Manage Advanced Collections section
• Based on Idea 646864 from the Receivables & Collections Idea Lab on Oracle Cloud Customer Connect.

Access Requirements

No new access requirements.