Payables & Cash Management

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Topic

    Jeff Jezierski
    For Further Benefit To or For Further Credit AP Payments
    Topic posted February 21, 2017 by Jeff JezierskiBronze Medal: 1,250+ Points, last edited January 30, 2019, tagged Cash Management, Financials, Payables 
    92 Views, 2 Comments
    Title:
    For Further Benefit To or For Further Credit AP Payments
    Summary:
    Bank Setup for Payments made to suppliers or employees with FBO or For Futher Credit
    Content:

    We have had several examples where standard AP Payments to vendors or expense reimbursement payments to employees require payment to be communicated as an FBO (further benefit of) aka "further credit to." An example would be an employee that has a brokerage account and the wire payment is being communicated to a bank and then to the brokerage account. Therefore, the banking details require 2 accounts, the name of the account holder as well as routing information. Feedback from the Oracle SR created is that current R11 and R12 design do not support FBO payment processing setups.

    Any assistance with these payments would be greatly appreciated,
    Jeff

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