Automatic Refund

Until now, the system enabled you to adjust credit in the next bill or by creating A/P adjustments to refund money via an A/P check request. Now, in addition, the system enables you to initiate immediate refund in the following excess credit scenarios:

A credit bill is generated for an account.
A credit adjustment is created for an account.
A dispute request is created for a fully or partially paid bill.
A fully or partially paid bill of an account is canceled.
An overpayment is done for an account.

The system is enhanced, in a way, to initiate the automatic refund process in excess credit instances for customers, who have opted for immediate refund. At present, this feature is tested and certified only for the financial services domain.

Note: The automatic refund feature is applicable for a dispute request only when it is created for a fully or partially paid bill and not when it is created for an unpaid bill. Similarly, the automatic refund feature is applicable only when a fully or partially paid bill of an account is canceled and not when an unpaid bill of an account is canceled.

Parent Topic: Oracle Revenue Management and Billing Financial Services Business Processes