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Settlement date option on Oracle Accounts Payable payment requests

edited Jul 26, 2019 9:08PM in Payables, Payments & Cash Management 3 comments

Summary

Need an option to select a settlement date for ACH payment runs

Content

From discussions with our bank provider, for ACH payment runs, they will settle the ACH payment same day for suppliers that bank with them but will wait a day to settle payments to other suppliers.  This causes a recon issue for us as part of the ACH payment clears on the day and the rest clears on the next day.

Apparently if a request is made for the settlement date to be the date the payment run this splitting does not happen.

The question is how do you request a same day settlement date on an Oracle ACH payable payment run?

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