Payment Request

Oracle Revenue Management and Billing facilitates you to create and transfer payments through a payment request. While creating a payment creation or transfer request, you need to specify the payment request type using which you want to create the payment request. It is the payment request type which helps the system to determine:

• Whether to create payment transfer or payment creation request

• Whether payment events and payments must be created in real time (i.e. immediately) or in the deferred mode

• Whether payment creation or transfer instructions must be approved by the approver before freezing the payments

You can specify multiple match types along with the entity (such as account or bill) in the payment request. Depending on the match type and match entity selected, the entities (such as unpaid bills, bill segments, or contracts) of the account are considered against which you can match the tender or transfer (payment) amount. Once you update the payment amount against the required entities, you can distribute the tender or payment amount.

On distributing the tender amount, the payment event, payments, payment segments, and payment tender are created. The payments are created in the Freezable status. If any error occurs while creating a payment, the payment is created in the Error status. If all payments of a payment event are in the Freezable status, the status of the payment event is set to Balanced. However, if any payment of a payment event is in the Error status, the status of the payment event is set to Unbalanced. On distributing the payment amount (during transfer), the new payments are created in the Freezable status. If any error occurs while creating a new payment, the payment is created in the Error status. The status of the payment event is set to Unbalanced. The old payments in the payment event that you want to transfer remains in the Frozen or Error status.

The system allows you to view the pay segments of a payment and edit the pay segment amount, if required. You can edit the pay segment amount before submitting the payment request for approval or before freezing the payments. If the approval is not required for the payment request, you can directly freeze the payments created through the payment request. However, if the approval is required for the payment request, you need to submit the payment request for approval. Based on the observations, the approver might approve or reject the payment request. On approving a payment creation request or freezing the payments, the status of the payments is changed from Freezable to Frozen. However, on approving a payment transfer request or freezing the payments, the system does the following:

• Changes the status of the old payments which are in the Frozen status to Cancelled

• Deletes the old payments which are in the Error status

• Changes the status of the new payments which are in the Freezable status to Frozen

• Changes the status of the payment event to Balanced when there are no payments in the Error status

On rejecting a payment creation request, the payment event, payments, payment segments, and payment tender which are created through the payment creation request are deleted. However, on rejecting a payment transfer request, the new payments which are created through the payment transfer request are deleted.

During the payment request process, a payment creation or transfer request goes through various statuses in its lifecycle. For more information about the payment request statuses, see Payment Creation Request (Without Approval) Status Transition and Payment Creation Request (With Approval) Status Transition.

Note that the lifecycle of a payment creation and transfer requests is driven by the respective business object using which the payment creation and transfer requests are created. The C1-PaymentRequest and C1-PaymentTransferRequest business objects are shipped with the product. The payment request feature explained in this document is articulated based on the lifecycle and logic defined in the C1-PaymentRequest and C1-PaymentTransferRequest business objects.

For more information on how to setup the payment request process, see Prerequisites.

Related Topics

Parent Topic: Oracle Revenue Management and Billing Generic Business Processes