1 Reply Latest reply on Dec 5, 2019 8:45 AM by Akshatg-Oracle

    Direct Debits and mandates for Direct debits

    4062895

      This is regarding direct debit functionality in the Accounts receivable module.Under which scenario,the mandate for the direct debit will be mandatory to process the remitting of direct debit to the bank in peoplesoft?

        • 1. Re: Direct Debits and mandates for Direct debits
          Akshatg-Oracle

          Dear Recipient,

           

          Are you talking about any business scenario? If Yes, Then here could be the scenario :-

           

          1. If you want your transactions to be approved between 2 banks then you must have mandate.

          Suppose You have taken a loan from bank A and you want EMI to be deducted from your bank B then in this case you must have  a mandate. There will be 3 copies of that mandate 1 is for bank A , 1 is for Bank B and one with you.

           

          Thanks!
          Akshat