1. Implementing Channel Revenue Management
  2. Configure Custom Settlement Method

Configure Custom Settlement Method

Here you'll learn how to configure custom settlement methods.

Customer Channel claims provides ready to use integrations to Fusion Financials Cloud for a host of ways to settle claims. However, is you have additional settlement requirements, you can extend claim settlement options to create a settlement method for manual claims that is unique to your business process. For example, you can use custom settlement methods to settle claims created through an external application such as an Accounts Receivable or Accounts Payable application using the Integration of Channel Revenue Management claims settlement to legacy or third-party financial systems.

This image shows the workflow for using custom settlement methods.

The custom settlement method is available for promotional or nonpromotional manual claims. For promotional claims, this method also enables you to account for channel revenue to relieve earned accruals on settlement.

This feature reduces the time and effort to integrate the settlement of claims in a third party financials system or deductions management system.

Here are some common scenarios where you can use custom settlement methods:

  • Process settlement in legacy or third-party financial systems.
  • Settle with an AR document for overpayment (akin to a negative chargeback, where an AR transaction is used to give money back to customers who have overpaid).
  • Pay by wire transfer or EFT, as is common practice settling with European customers.
  • Settle with free goods, if you issue free goods to your customers against their claims. Custom settlement can support sales order settlement in your order management system for claims.
  1. Add a new custom settlement method to the ORA_CJM_SETTLEMENT_METHOD lookup.
    • In the Setup and Maintenance work area, go to the Manage Channel Lookups in the Channel Revenue Management functional area.
    • Search for lookup type, ORA_CJM_SETTLEMENT_METHOD.
    • Add a new lookup code representing the new settlement method.
  2. Configure custom settlement method under its applicable claim source.
    • In the Setup and Maintenance work area, go to the Manage Claim Sources task in the Channel Revenue Management functional area.
    • Select an applicable claim source, and add a custom settlement method.
  3. Configure Sub Ledger Accounting rules.