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How to map Bank Acceptance in oracle payments

edited Feb 6, 2019 9:52PM in Payables, Payments & Cash Management 3 comments

Summary

How to map Bank Acceptance in oracle payments

Content

Hi,

There is a business requirement, there will be tie up with the bank for this process. 

Step 1 - Group Invoices eg. 3 Suppliers => 3200USD.

Step 2 - Customer will reach the bank and ask them to pay the invoices 

Step 3 - The bank approves it =>3000 USD.

Step 4 - Bank pays the suppliers for 3200 USD  and sends the Debit Advice note to the business.
Step 5 - Bank deduct 200 USD(3200 - 3000 USD) from the current account and XX% interest as well.

Step 6 - After 180 days, the bank deducts 3000 USD from the business Current account. 

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