Manage Receipt Classes and Methods
To process payments and issue receipts, you must define the payment and receipt methods as well as provide accounting information.
When you set up receipt classes and methods, you associate a type of credit to the account. Examples of these are:
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Cash payments
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Credit card payments
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Bank account payments
You can use the predefined receipt classes and methods, or create new ones to suit your requirements.
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Sign in as FINUser.
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In the Setup and Maintenance work area, go to the Manage Receipt Classes and Methods task:
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Offering: Financials
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Functional Area: Customer Payments
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To create a receipt class and method for credit card payments:
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Click Create.
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Enter or select the following values for these fields:
Field
Value
Name
Credit Card
Creation Method
Automatic
Remittance Method
Standard
Clearance Method
By Matching
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In Receipt Methods, click Add Row.
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Enter or select these values for these fields:
Field
Value
Name
Credit Card
Printed Name
Note that this is the name that appears on documents when you print them.
Credit Card
Effective Start Date
01/01/2000
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In Details, Automatic Processing, enter or select these values for these fields:
Field
Value
Receipts inherit transaction numbers
Select the check box.
Number of Receipts Rule
One per Invoice
Receipt Maturity Date Rule
Earliest
Lead Days
0
Customer Payment Method
Credit Card
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In Funds Transfer Error Handling, click Add Row.
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Enter or select these values for these fields:
Field
Value
Error Code
$$$$
Description
Insufficient Funds
Activity Class
Receipt
Action
Reverse Receipt
Notes
Authorization or payment failed.
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Click Remittance Bank Accounts, then click Add Row.
The Create Remittance Bank Account page appears. On this page, you associate the bank account you created.
Remittance accounts are used when you use electronic fund transfer (EFT) as a mode of payment.
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Fill out these fields using information about your bank account:
Field
Value
Business Unit
Select your business unit.
Bank
Select your bank.
Branch
Select your branch.
Account
Select your bank account.
Minimum Receipt Amount
0.01
Effective Start Date
1/1/2000
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In GL Accounts, enter discount values for these fields as appropriate for your institution:
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Unearned Discounts
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Earned Discounts
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Click Save and Close.
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Click Save and Close.
Some fields may already be populated with values. These values were derived when you set up your enterprise structure.
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To create a receipt class and method for bank account payments:
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On the Manage Receipt Classes and Methods page, click Create.
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Enter or select these values for these fields:
Field
Value
Name
IBY_Receipt Class
Creation Method
Automatic
Remittance Method
Standard
Clearance Method
By Matching
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In Receipt Methods, click Add Row.
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Enter or select these values for these fields:
Field
Value
Name
IBY_Bank Account Transfer
Printed Name
Note that this is the name that appears on documents when you print them.
IBY_Bank Account Transfer
Effective Start Date
01/01/2000
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In Details, Automatic Processing, enter or select these values for these fields:
Field
Value
Receipts inherit transaction numbers
Select the check box.
Number of Receipts Rule
One per Invoice
Receipt Maturity Date Rule
Earliest
Lead Days
0
Customer Payment Method
Bank Account Transfer
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In Funds Transfer Error Handling, click Add Row.
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Enter or select these values for these fields:
Field
Value
Error Code
$$$$
Description
Insufficient Funds
Activity Class
Receipt
Action
Reverse Receipt
Notes
Authorization or payment failed.
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Click Remittance Bank Accounts, then click Add Row.
The Create Remittance Bank Account page appears. On this page, you associate the bank account you created.
Remittance accounts are used when you use electronic fund transfer (EFT) as a mode of payment.
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Fill out these fields using information about your bank account:
Field
Value
Business Unit
Select your business unit.
Bank
Select your bank.
Branch
Select your branch.
Account
Select your bank account.
Minimum Receipt Amount
0.01
Effective Start Date
1/1/2000
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In GL Accounts, enter or select values for these fields as appropriate for your institution:
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Unearned Discounts
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Earned Discounts
Some fields may already be populated with values. These values were derived when you set up your enterprise structure.
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Click Save and Close.
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Click Save and Close.
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To create a receipt class and method for cash (manual) payments:
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On the Manage Receipt Classes and Methods page, click Create.
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Enter or select these values for these fields:
Field
Value
Name
Manual
Creation Method
Manual
Remittance Method
Standard
Clearance Method
By Matching
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In Receipt Methods, click Add Row.
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Enter or select these values for these fields:
Field
Value
Name
Cash
Printed Name
Note that this is the name that appears on documents when you print them.
Cash
Effective Start Date
01/01/2000
Debit Memos Inherit Receipt Numbers
Select this check box.
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Click Remittance Bank Accounts, then click Add Row.
The Create Remittance Bank Account page appears. On this page, you associate the bank account you created.
Remittance accounts are used when you use electronic fund transfer (EFT) as a mode of payment.
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Fill out these fields using information about your bank account:
Field
Value
Business Unit
Select your business unit.
Bank
Select your bank.
Branch
Select your branch.
Account
Select your bank account.
Minimum Receipt Amount
0.01
Effective Start Date
1/1/2000
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In GL Accounts, enter or select values for these fields as appropriate for your institution:
-
Unearned Discounts
-
Earned Discounts
Some fields may already be populated with values. These values were derived when you set up your enterprise structure.
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Click Save and Close.
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Click Save and Close.
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