ERPstuff - Oracle EBS Community

HI,

Please describe about <b>Direct debit</b> concept in Oracle receivables.

Regards,
KAR

'Direct Debit' is an agreement made with your customer to allow the transfer of funds from their bank account to your bank account. The transfer of funds occurs when the bank receives a document or tape containing the invoices to be paid.
The purpose of Direct Debit is to initiate payment of outstanding invoices by producing a file of receipts for collection through the banking system .This is used where a customer pays by direct debit. Oracle Report Builder and PL/SQL helps in customizing the Direct Debit.

Direct Debit is used for transfer of funds from the customer bank account to your bank account. The transfer of funds occurs when the bank receives a document containing the invoices to be paid. The main difference is the file format is different for different countries i.e. for Denmark, Austria, France, Spain and Germany.

SETUPS REQUIRED FOR DIRECT DEBIT:
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*INTERNAL REMITTANCE BANK
*CREATE CUSTOMER BANK AND CUSTOMER ACCOUNTS
*ASSIGN THE CUSTOMER BANK ACCOUNT TO THE CUSTOMER
*CREATE FORMAT PROGRAM
*RECEIPT CLASS FOR AUTOMATIC REMITTANCES

Thanks
SKudikyal

Thank you Skudikyal,


But it seems like Automatic receipts process.... what is the main difference between these two?

Regards,
KAR