Automatic ACH Receipt Batch Creation Process

Purpose:

This document describes ‘How to use Automatic ACH Receipt Batch Creation Process’ functionality as provided in Oracle Cloud application. To use Automatic ACH Receipt Batch Process there should be a pre-existing agreement between you and your customer to process payments via ACH for Automatic receipts. The commonly used format for Transmission to Bank is NACHA. Through NACHA Format, Bank gets the necessary data points and transfers the funds from customer’s bank account to your bank account as a part of the remittance process.

Please note that any oracle functionality can be used provided pre-requisites (setup configuration) are completed in the application.

Assumptions:

  • Bank setups in Oracle Cash Management are completed
  • Setups in Accounts receivables are completed
  • NACHA file format is ready as per Bank specifications

Process Overview

Automatic ACH Receipts Process involves:

  • Create Automatic ACH Receipt Batch
  • Modify the Receipt Batch, if required
  • Receipt Remittance and Approval
  • Create Settlement Batch and Transmit to Bank (using Transmission Configuration) or
  • Transfer Receipt Batch to Bank (using SFTP server)

**In this white paper, we are using SFTP server to transmit the settlement file to Bank**