Automate your payments from Oracle to Financial Institution
The overall purpose of the blog is to import payments information from Payables module to Bank of America web bank interface. There is no need to apply conversion in as the report contains details of payment in payment currencies. We will be running this report/program multiple times by passing the payment batch details as a parameter.
Normally business used to process the Payment batch and they will confirm the payment batch. After that business will take the payment file from the format instruction text out put and placing the file in the bank interface or any other specified directory, so that from there bank used to take that file for the payment process. This is all the manual and lengthy process and not recommended as the manual intervention can make amendments to the payment file.
To avoid this manual intervention, one of our prestigious client has requested us to automate this process. so we have come up with a solution to automate the payment file movement to bank interface through a program. built a custom report called “XX BOA Payment OUTBOUND”, which is in the prescribed format of BOA and a file is sent to the payment processor in a text format via email. BOA will take care of any duplicate payment files.
We do have “Final Payment register” in Oracle Payables is a default Report generated whenever a payment batch is confirmed. However, the default output of payment register is not in the prescribed format of BOA. Hence, we are developing a new “Final Payment Register”
Business will generate a payment batch or create a quick payment for the Supplier Invoices.
Business User will then submit final payment register after conformation of the payment Batch.
Payables will allow the user to generate this payment register as and when needed.
User will upload the Payment register in text format data to BOA web bank interface as and when needed
The import file validation for duplicity is the responsibility of the BOA.
It is important to note that the date of payment batch date should be the date on which it is uploaded to BOA Web bank interface.
