Is there any equivalent of the pre-note process for supplier bank accounts?
Summary:
Our client would like to validate supplier bank accounts when suppliers are onboarded and before payments are made. They are aware of the account validation service offered by JPMC as a paid service and integrated with Oracle Cloud. However, they do not want to pay for the service. There is a pre-note functionality in Payroll which allows the validation of employee bank accounts. My questions are:
- Is there a similar functionality in Payables? I think not, but want to confirm
- If there is no such functionality and the client does not want to pay for the JPMC service, what options do we have? I can think of creating a penny invoice and making a penny payment. Is there any other way?
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