EAP: Cash Clearing accounting entries are not created for EFT payment method (Doc ID 883663.1)

Last updated on SEPTEMBER 15, 2016

Applies to:

PeopleSoft Enterprise FIN Payables - Version 9 and later
Information in this document applies to any platform.

Goal

Cash Clearing Account has been defined as EFT Payment Method. In the External Bank Accounts page, the following is selected:

- The check box option for Cash Clearing
- Enter a Control AP account
- Enter a Cash AP account
- As Payment Method , use EFT

When running the Cash Clearing process (AP_APCSHCLR ) for that Bank Account and EFT Payment Method, the system does not generate CAC accounting entries (the ones to the Control AP account), but directly CAS entries (the ones to Cash AP account).  It seems that records with a value 'CAC' for 'DST_ACCT_TYPE' are missing in the table 'PS_VCHR_ACCTG_LINE'.

Customer complains that although they are using EFT method, once you send the file to the Bank, it still takes some time for the bank to withdraw the money, so they want to use the Cash Clearing process. It is a wide and common practice among European countries.

Solution

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