Steps: Set Up Customer Payments and Deposits from Bank Statements

This functionality enables you to automate the process of recording customer payments and deposits from bank statement lines and reconciling the deposits.

After you record a bank statement, you can configure rule sets to define the criteria for mapping the bank statement line to the customer payment. You can then link the rule sets to a bank account and run the schedule job that checks if the bank statement line matches the defined rules.

Create Customer Payment Rule Set

Access the

Create Bank Account

Edit Bank Account

task.

Security: Set Up: Bank Entity
domain in the Banking and Settlement functional area.

Select a payment rule set in the

Customer Payment Rule Set

prompt under the

Reconciliation Configuration

section. Ensure that it’s for the

Bank Statement Format

defined for the bank account.

Ensure that the

Primary Account Usage

has a Customer Payment
type when using a payment rule set.

Ensure that you have a Company
in the

Organization

prompt and not Company Hierarchy
when using a payment rule set.

The business process approval initiates only during a new bank account creation.

For mass transactions, you can use these web services:

Get Bank Accounts

Put Bank Account

Submit Bank Account

See Define Bank Accounts

Schedule Customer Payment from Bank Statement Line

(Optional) Access the

Auto-Apply Customer Payments

task.

Security: Process: Customer Payment Auto-Application
domain in the Customer Accounts functional area.

Run the auto-apply job to apply the recorded customer payment for an unpaid customer invoice. This functionality will work only if there is a remit-from customer information with an exact match and the

Ready for Auto-Apply

flag is enabled. See Steps: Apply Customer Payments Automatically

2024R1 What's New Post: Create Customer Payments and Deposits from Bank Statements