How to Create the Payment method in Oracle Apps r12

How to Create the Payment method in Oracle Apps r12

Hi friends, we are going to discuss about the how to Create the Payment method In Oracle Apps r12. We will share the detail steps to create the payment method in oracle apps. Payment Method we do create for supplier payments. As per our requirement , we can create the new payment methods for the suppliers and then make the payment for that supplier in oracle apps. Supplier Payment Method is a Medium by which the first party payer, makes a Payment to a third party payee, such as a supplier. You can use a payment method to pay one or more suppliers. Oracle Payments supports several payment methods for funds disbursement, including the following:

4 Types of Payment Methods in oracle apps

1.Check

2.Electronic (EFT)

3.Wire

4.Clearing

Steps to create the new Payment Method in Oracle Apps

Step 1:- Go to Payables Manager ==> Setups ==> Payment ==> Payment Administrator.

How to Create the Payment method in Oracle Apps r12

Step 2:- In Payment Administrator , We need to goto the Payment Methods.

How to Create the Payment method in Oracle Apps r12

Step 3:- Here we can find out the the already created payment methods.

To create the new Payment Method , We need to click on the '+' icon.

How to Create the Payment method in Oracle Apps r12

Step 4:- 

Here below , we are creating the payment method. We are defining the payment methods for 'Check'.

How to Create the Payment method in Oracle Apps r12

Step 5:- 

Creating Payment Method as below.

How to Create the Payment method in Oracle Apps r12