Advanced collections process
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The document provides instructions for processing different types of payments in Advanced Collections, including bank transfer payments which involve selecting items to pay, entering payment details, and submitting the payment, and credit card payments which follow similar steps; it also describes how payment confirmations will be sent to customers if a profile option is enabled and discusses two methods for increasing invoice amounts to add collection fees when customers make payments.
Advanced collections process
- 1. Advanced Collections: Can I send a payment confirmation to a customer? If the IEX: Send Correspondence Automatically profile option is set to Yes, then Advanced Collections sends a confirmation document to the customer's dunningcontact address and a correspondence event is recorded in thecustomer's history.For more information about profile options, see: Correspondence Category, Oracle Advanced Implementation Guide on how to set this up Processing Bank Check EFT Payments Use this procedure to process bank transfer payments. Steps: 1. Click the Payment Processingbutton on any tab that supports payment processing. Information from the tab appears in the ProcessingPayment window. 2. If you are payingon accounts and you want tosee the total balancedue for an account, then click in theClick to Calculate Balance field. 3. If the customer wants topay all items, then select Pay All. 4. If the customer wants topay the full amount for a specific item, then select Pay in Full check box for that item. 5. If the customer wants topay a partial amount,then enter the payment amount for that item. 6. Choose the Bank Transfer tab and enter the information for the payment.To add a new account number,click theellipse and add the information in Payment Details. 7. Enter a note about the payment. 8. Click Submit or Submit and Close .The bank transfer payment is authorized through Oracle Payments and then sent on to Oracle Receivables. If the IEX: Send Correspondence Automatically profile option is set to Yes,then a confirmation document is sent to the customer's dunningaddress using the correspondence method and templatespecified in the Collections Checklist. For more information about correspondence profile options, see: Correspondence Category, Oracle Advanced Collections Implementation Guide. Processing Credit Card Payments Use this procedure to process credit card payments. Steps: 1. Click the Payment Processingbutton on any tab that supports payment processing. Account or invoice information from the tab appears in the Processing Payment window. 2. If the customer wants topay all items, then select Pay All. 3. If the customer wants topay the full amount for a specific item, then select Pay in Full for that item. 4. If the customer wants topay a partial amount,then enter the payment amount for that item. 5. Choose the Credit Card tab and enter the credit card details for the payment.See: Adding Credit Card Information,page 12-30. 6. Enter a note about the payment. 7. Click Submit or Submit and Close.
- 2. If the IEX: Send Correspondence Automatically profile option is set to Yes, then a confirmation document is sent to the customer's dunningaddress using the correspondencemethod and templatespecified in the Collections Checklist. For more information about correspondenceprofile options, see: Correspondence Category, Oracle Advanced Collections Implementation Guide. COO Business Process 1. Customer comes into COO to pay outstanding invoice, Currently a payment is taken using the current POS ( Point of Sale System) system which will allow collectors to take a payment and they need to give the customer a receipt . Currently they do not have access to Oracle EBS R11 I 2. IN Release R 12 2 5 COO Collectors will have access to Oracle EBS Receivables using Advanced Collections Module. Receivables will no longer have to zero them out in Receivables and send them over to collections. Collections will be able to see the customer and the amount that he owes in Oracle EBS. Currently today when the COO Collectors receive the customer account from Receivables in Finance they set that customer up in the POS System and add their fees on top of the Receivable Amount. 3. Going forward there are two ways to increase the invoice with the collections fess. a.) By Debit Memo: This is the clean approach Ex. Invoice Number 123 for $500 in the system. Now need to increase the amount for collections fees of $275.00 issue Debit memo D123 to invoice the invoice amount and add explanations b.) ADJUSTMENT – which is not audit clear. Adjustments in receivables allows you to adjust the invoice or transaction to include a increase or decrease but is not quite as clear as the Debit Memo or Credit memo