Is it possible to create payment cash clearing accounting entries based on payment methods EFT, Check and Wire? (Doc ID 1997593.1)

Last updated on MARCH 08, 2017

Applies to:

Oracle Payables - Version 12.0.0 to 12.2.4 [Release 12.0 to 12.2]
Information in this document applies to any platform.

Goal

Is it possible to create payment cash clearing accounting entries based on payment methods like EFT, Check and Wire?
For payment method 'CHECK' it is needed to create cash clearing accounting lines, whereas for payment method 'WIRE' cash clearing accounting line is not needed.

Example:
=====

Payment Accounting For Payment Method 'Check':
-----------------------------------------------------------

Liability Account - DR
Cash Clearing - CR

Cash Clearing - DR
Cash - CR

Payment Accounting For Payment Method 'Wire':
-----------------------------------------------------------

Liability Account - DR
Cash - CR

Is there this kind of standard functionality in Oracle application?
 

Solution

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