Financial Management - PSFT (MOSC)

MOSC Banner

Identifying payments for cash application

edited Sep 14, 2016 2:51AM in Financial Management - PSFT (MOSC) 3 commentsAnswered

Hi Gurus,

Need your guidance in understanding industry best practices related to deposit creation and cash application in peoplesoft.

If we get payment information through lockbox file, we can get MICR, Item reference included in lockbox file so when the deposit is created we know the items or at least the customer for which the payment has been received.

However, if it is through ACH, manual check, we are facing difficulty in identifying the items or customer for which the payment needs to be applied.

The situation becomes tricky as even if we know the customer, we do various kinds of work (Grant related, ad-hoc lease related etc.) for the same customer so we do not know against which item(belonging to a particular type of work) should the payment be applied.

Howdy, Stranger!

Log In

To view full details, sign in to My Oracle Support Community.

Register

Don't have a My Oracle Support Community account? Click here to get started.

Category Leaderboard

Top contributors this month

PSFT Financial Tags

Instructions for posting

×

1. Select a discussion category from the picklist.


2. Enter a title that clearly identifies the subject of your question.


3. In the body, insert detailed information, including Oracle product and version.


Please abide by the Oracle Community guidelines and refrain from posting any customer or personally identifiable information (PI/CI).


Cloud / Fusion customers - Our Cloud community has moved! Please go to Cloud Customer Connect .


New to My Oracle Support Community? Visit our Welcome Center

MOSC Help Center