Payables-Payment Types

Payment Types

1. Manual
2. Quick
3. Refund

Manual Payment Overview

When you create a payment outside of Payables, such as a typed check or wire transfer, you can record the payment within Payables and update the invoice or invoices that you paid.

With a Manual payment, you can override some payment controls of Payables. You can record a single Manual payment for multiple Pay Alone invoices. You can record payment for invoices that are associated with any payment method except Electronic. You can also pay an invoice for a supplier that has the Hold All Payments option enabled.

Error msg when you pay all hold invoices with quick payment

You can only predate a computer generated payment if the Allow Pre-Date option is enabled in the Single Payment region of the Payment tab within the Payables Options window.

If you have selected the wrong invoice, you can select the invoice, and then click the Reverse Payment button. This automatically creates a reversal, which disassociates the invoice from the Manual payment. You can now select the correct Invoice.

Overriding Payment Controls

With a Manual payment, you can override some payment controls. You can:

•         record a single payment for multiple Pay Alone invoices

•         record payment for invoices that are associated with any Payment Method type, except Electronic

•         pay an invoice for a supplier that has the Hold All Payments option enabled

Formatting

With manual type format instruction and print status is not recorded as payment is made outside oracle. If you want to print Wire transfer or checks you need to use Quick payment type

Future Dated Manual Payments

For future dated Manual payments, if the Payables option Use Future Dated Payment Account is set to Supplier Site, then you can select invoices for payment only if the supplier site Future Dated Payment Account is the same as that of the supplier site in the payment header.

Withholding Taxes

If you withhold taxes at payment time, Payables does not automatically withhold taxes if you pay with a Manual payment.

Quick payments

You can create and print a computer generated payment to pay a supplier for one or more invoices. You can also create a check, save it, then print it later.

When you create a quick payment, you can select an invoice regardless of the payments’ terms and due date. For example, you can create a Quick payment for an invoice that is not yet due.

Prerequisites

•         Invoices must be validated, uncanceled, and without holds.

•         If you are creating an electronic payment, you must assign supplier banks to your supplier.(However it still allows to save the payment if RTB is not provided. It displays as a mandatory field)

Quick Payment Restrictions:
NUMBER OF INVOICES: You can only pay as many invoices as you defined for the
remittance advice of the payment document.




SAME SUPPLIER SITE: You can only select invoices that have the same supplier site
as the payment supplier site you enter. You can, however, change the payment mailing
address if the Allow Address Change Payables Option page, Payment tab is enabled.

PAY ALONE INVOICES: The system adjusts the list of values to ensure that you don't
pay a "Pay Alone" invoice when you pay multiple invoices. If you have selected an
invoice for payment and then select more invoices for payment, then Payables does not
include Pay Alone invoices on this list of values. If you select a Pay Alone invoice for
payment then you cannot select more invoices.Payalone cannot be selected for CM or Debit memo.

PAYING IN A FOREIGN CURRENCY: You must pay in the same currency as the
invoice. You can enter and pay a foreign currency invoice only if your Allow Multiple
Currencies Payables option is enabled, and you have defined a multi-currency or
foreign currency denominated bank account.

CANNOT STOP FORMATTED QUICK PAYMENTS. You cannot stop a Quick
Payment before it has been formatted.

Clearing Payment Type


Use the clearing payment method to account for intercompany expenses when you do
not actually disburse funds through banks. For example, your Facilities group pays the
telephone company for your telephone usage. You use a clearing payment to reimburse
the Facilities group for your group's telephone expense. You can process invoices with
clearing method in payment batches. Document is available in the Payment Batch list of
values. You can also confirm and autoconfirm clearing payment batches.

Prerequisites

• Define a bank account with at least one payment document that uses a format defined with the Clearing Payment Method

• Enter an invoice for the transaction, and enter Clearing as the payment method.