Payables & Cash Management

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Topic

    Sirisha
    Where do the Bank Acknowledgement emails store in ERP Cloud...Answered
    Topic posted September 4, 2019 by SirishaBlue Ribbon: 750+ Points, tagged Financials, Payables 
    49 Views, 11 Comments
    Title:
    Where do the Bank Acknowledgement emails store in ERP Cloud fusion?
    Summary:
    Bank Sends Acknowledgement emails of the payments to the users, How do we check the past Acknowledgement emails received from Bank
    Content:

    Bank Sends Acknowledgement emails to the users, How do we check the past Acknowledgement emails received from Bank. Where will they store? 

    Version:
    19C

    Best Comment

    Logan Wacker

    Funds capture is not the same as payment acknowledgements for AP/CM transactions. Funds capture acknowledges the receipt of inbound funds. AP/CM payment acknowledgements are outbound payments to a vendor or other beneficiary.

    Comment

     

    • Logan Wacker

      Not following your question. Usually the bank generated email acknowledgements are routed to a group inbox, or specific users on the clients team. To my knowledge, you can't load or store acknowledgements in cloud.

      • Sirisha

        My question is ..We get multiple Acknowledgement emails daily, but what if we delete the emails and want to check the older Acknowledgement emails received from Bank, how can we view it again?

        Is there a place where the Acknowledgement emails stores in the cloud somewhere in UCM? 

    • Becky Alvarez

      That is correct.  Cloud Financials do not support Acknowledgments.   We do support intra-day bank statements that should provide the ability to receive multiple bank statements per day from the bank.

      • Sirisha

        We get multiple Acknowledgement emails daily, but what if we want to check the older Acknowledgement emails?

        Instead of checking all the emails, How do we have a proof that we received the Acknowledgement from Bank?

        Do we have any option to view the Acknowledgement emails somewhere in the UCM?

    • Logan Wacker

      No you cannot view them anywhere in SaaS. That’s what we’re saying. No acknowledgement is stored in cloud. The emails go to a clients inbox and that’s all you’ve got. Or a bank statement.

      • Sirisha

        In 19C upgrade, we have the below feature. How does this work?

         

        Retrieve Funds Capture Acknowledgment Files Using a Wildcard Search

        Retrieve multiple funds capture acknowledgment files at the same time using a wildcard search. Create a transmission configuration with the Secure File Transmission Retrieval Protocol for Static File Names and enter a wildcard in the Remote File Name parameter. This will both retrieve and process multiple acknowledgment files from your bank.

        • Logan Wacker

          Funds capture is not the same as payment acknowledgements for AP/CM transactions. Funds capture acknowledges the receipt of inbound funds. AP/CM payment acknowledgements are outbound payments to a vendor or other beneficiary.

    • Sirisha

      Thanks for clarification

      Is there any other way to store the Acknowledgement emails?

    • Mitesh Kumbhat

      Do they belongs to AR flow or AP flow? What is the business process that you follow with such emails in Fusion application. If you can describe the flow then we can better understand the situation and answer the question.

    • Logan Wacker

      They belong to the AP and CM outbound payments work flows. The system generates a payment through workflow and send its for processing by the bank. In return the bank provides an ack confirming the debit posting to your bank account (credit transfer to beneficiary). This is done because Oracle cannot provide payment ack files to close the loop on a payment inside the application.

      • Mitesh Kumbhat

        We don't have feature to process acknowledgement files. However as an alternative, you can use Payables Payment REST API to void a payment using update (PATCH) operation for the payments which are marked as rejected in bank's acknowledgement file.

        https://docs.oracle.com/en/cloud/saas/financials/19c/farfa/api-payables-payments.html