PPF -- Payment Process Profiles

A payment process profile is a setup entity that controls payment processing. The payment method and other invoice attributes drive the assignment of a payment process profile to each "document payable". Assigning a payment process profile to each document payable tells Oracle Fusion Payments how to handle invoices, promissory notes, payments, and payment files during each step of the payment process.

A payment process profile controls payment processing for the disbursement flow. It provides the blueprint to:

·       Link setups

·       Control usage

·       Specify payment formatting, printing, and transmission behaviour

·       Control creation of payments and payment files

·       Automate report generation

Before you can set up a payment process profile, you must set up the following:

·       Payment formats

·       Payment system and its payment system account

·       "Transmission configuration"

To set up a payment process profile, in the Setup and Maintenance work area, go to the following:

·       Offering: Financials

·       Functional Area: Payments

·       Task: Manage Payment Process Profiles

Then, on the Manage Payment Process Profiles page, click Create. The Create Payment Process Profile page appears.

 

Header details:

 

Specify Payment Formatting, Printing, and Transmission Behaviour

In the header of the Create Payment Process Profile page, you can specify the following attributes:

·       Whether the payment process profile can be used for electronic or printed payment processing

·       Payment file format to be used with the payment process profile

·       Payment confirmation point

If the payment process profile is used for electronic payments, you select a payment system and enter details for the "payment system account". This action allows Payments to electronically transmit files to the payment system.

If the payment process profile is used for printed payments, a payment system isn't required, but you can optionally select a payment system and transmission details so that Payments can electronically transmit positive pay files to your bank.

The following settings in the header region on the Create Payment Process Profile page impact electronic disbursements:

·       Payment File Format choice list: You specify the payment file format to use for the electronic payment file.

·       Processing Type choice list: Electronic.

·       Payment Confirmation Point choice list: Point at which a payment is confirmed. Payments can be automatically confirmed, either when the payment file is formatted or when the payment file is transmitted to the payment system.

·       Allow Manual Setting of Payment Confirmation check box: You can manually confirm payments on the following pages:

o   Manage Payment Files

o   Payment File

o   Overview page in the Payments work area

After Selecting Processing Type:

 

 

Control Usage

You can set up a payment process profile to be used only with specific variables that appear on the Usage Rules tab:

·       Payment method

·       "Disbursement bank account"

·       Business unit

·       Currency

For example, if the payment format associated with the payment process profile only allows a specific currency, then you can specify that currency in the "usage rules". The payment process profile is then only used on documents payable of the applicable currency.

 

Payment System:

If the payment process profile is used for electronic payments, you select a payment system and enter details for the "payment system account". This action allows Payments to electronically transmit files to the payment system.

 

Control Creation of Payments and Payment Files

On the Payment and Payment File tabs of the Create Payment Process Profile page, you can control the creation of payments and payment files by:

·       Grouping invoices into payments

·       Grouping payments into payment files

On the Payment tab, an enabled grouping rule for an attribute means that two documents payable that share the same value for an attribute are grouped into the same payment. If values are different, the documents payable are in separate payments. A disabled grouping rule for an attribute means that the attribute won't apply when documents payable are built into payments.

On the Payment File tab, you specify payment grouping rules that determine which attributes are considered when grouping payments into payment files.

Additionally, you can specify the following.

·       Payment limits: Limit for the number of payments in a payment file

·       Payment sorting: Payments within a payment file are ordered as specified, which also determines the ordering of payments in the payment file register

·       Bank instructions: Text that you want to include in all payment files created using this payment process profile

·       Batch booking: One debit entry is posted for a group, rather than for each credit transaction

·       Overrides: If you select an override option, the payment file contains the service level and delivery channel combination you select, rather than those specified in supplier setup. If you don't select any override options, the payment file can contain multiple combinations.

·       Periodic sequences in format: Sequential numbering of payment files according to a payment system or bank's requirements.

 

 

 

 

Automate Report Generation

On the Reporting tab, you can specify whether you want the following reports to be automatically generated:

·       Payment file register

·       Positive pay

·       "Separate remittance advice"

 

Name of Report and Process	Report Description	Options You Select for the Automatic Process	Output
Report: Disbursement Payment File Formats Process: Create Printed Payment Files or Process: Create Electronic Payment Files	Groups payments into payment files, and then validates, formats, and prints the payment documents (printed payment files) or transmits (electronic payment files) the payment to the payment system.	Location: Submit Payment Process Request page. Options to select: Create payment files immediately check box. Provide a default payment document and a payment process profile.	Printed payment documents, such as checks or promissory notes. or Electronic payment files.
Report: Disbursement Accompanying Letter Formats Process: Payment File Accompanying Letter	Creates an accompanying letter for a payment file that your company either prints and mails to the bank, along with the payment file on a disk or manually transmits to the bank, along with the payment file.	Location: Create Payment Process Profile page, Payment File tab. Option to select: Payment File Accompanying Letter format.	Document.
Report: Disbursement Positive Pay File Formats Process: Create Positive Pay File	Creates a document that your company transmits to its payment system or bank to inform it of payments made by check.	Location: Create Payment Process Profile page, Reporting tab, Positive Pay section. Option to select: Automatically transmit file check box.	Document.
Report: Disbursement Separate Remittance Advice Formats Process: Send Separate Remittance Advice	Creates notices that can be faxed, E-Mailed, or printed and mailed to external payees that list the invoices your company has electronically paid to the external payee's bank account.	Location: Create Payment Process Profile page, Separate Remittance Advice section. Option to select: Automatically submit when payments are confirmed check box.	Document.
Report: Disbursement Payment File Register Formats Process: Payment File Register	Creates a report displaying the contents of a payment file, which your company keeps for its records.	Location: Create Payment Process Profile page, Reporting tab, Payment File Register section. Option to select: Automatically submit when payments are complete check box.	Document.
Report: Disbursement Payment Process Request Status Report Formats Process: Payment Process Request Status Report	Creates a report that displays the contents and status of a payment process request, which your company reviews online or prints.	Location: Manage Disbursement System Options page. Option to select: Automatically submit at payment process request completion check box.	Document.