ONE TIME PAYMENT FUNCTIONALITY IN ORACLE FUSION FINANCIALS

ONE TIME PAYMENT FUNCTIONALITY 

IN ORACLE FUSION FINANCIALS

What is One Time Payment (OTP):

The One Time Payment feature facilitates seamless processing of payments for transactions from third party external vendors. 

The feature allows transactions to be imported into payables from external systems such as payment requests using a predefined FBDI template. 

The payees and any bank account information for electronic payments are created automatically when transactions are imported into payables.

These payment requests are created with distributions and validated as part of the import process. 

This eliminates the need for manual intervention when importing payment requests from their external systems. 

Payment requests can be approved and updated, and attachments added. 

Separate payment runs can be processed for these transactions from the regular payments to suppliers.

One Time Payments are used to pay other parties without creating a Supplier, Supplier Address, Sites, Site Assignments.

Features:

1. Seamless processing of bulk payments

2. Import the payments from the FBDI(File based data import)

3. Payments for external system transactions.

4. Payments for the external vendors when client is not having procurement licenses.

Functionality and business value:

1. Import bulk payment requests through FBDI

2. Automatic creation of external parties, payees, bank accounts.

3. Touchless processing of the payments to non-suppliers.

4. Issue both electronic and check payments.

5. Review and approval of transactions.

Setups to enable this feature as this an opt-in feature:

1. Navigation - Functional setup manager>financials offerings>Payables>Manage common options for payables and procurement.

2. Roles - Accounts Payables Supervisor

                Accounts Payables Manager

Mandatory information for OTP setup:

1. Navigation - Functional setup manager>financials>Manage common options for Payables and Procurement.

2. Filling the below information related to liability and expense is important as payment request also defaults the code combinations for distributions from these columns as well.

Where to check for switched on OTP functionality:

1. Navigation - Payables>Invoices work area>Import Payment requests.

Steps to run:

1. Enter data in the FBDI template. Template can be downloaded from below link:

https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/oefbf/Payables-Payment-Request-Import-308042716-fbdi-27.html

2. Enter column details:

2. Import the transactions. Run the processes from schedule processes:

3. Submit the payment requests for review and approval.

4. Invoice gets created with invoice type payment requests.

5. Payment of the invoices to be made.

OTP Limitations:

1. No standard invoice types like standard, Credit Memo, Debit Memo, and prepayment.

2. Invoices will be imported as ‘Validated’. So, header amount cannot be altered or edited.

3. AP/Supplier conversions will not be considered.

4. Payables to Project cycle – cost cannot be imported from payables invoices to Projects automatically.

5. Payables to Asset cycle – Assets cannot be created automatically from payables to fixed assets.