Why do we use Check Positive Pay ?
Below one is a generic concept of check positive pay. I didn't use it in Oracle apps.
Check positive pay is a fraud detection process. Whenever the company pays CHECK to the suppliers/employees, the CHECK details like account number, check number, issue date, check amount, etc are sent to the corresponding bank (mostly electronically) for the issued checks. Now when the supplier deposit the check, the bank software will automatically verify if there is/are corresponding check details provided to bank by the company.
If the details match, then vendor will be paid. If there is no matching record found, then bank will intimate the same to the company and company has to take necessary action. For this service, banks might charge a fee also.
Is This Answer Correct ? | 0 Yes | 0 No |
whichever documents prepaired by the FUNCTIONAL CONSULTANT while implementing project by using AIM.
what is the link between Ar and PO modules? waht is link between ap and po? what is link between gl and po? what is link between gl and ap? what is link between gl and ar? what is link between ap and ar?
encumbrence set ups?
MOAC setup and which module do the setup? And what is the use of MOAC?
what is MOAC?
2 Answers ABC, Ness Technologies,
Whether is it allowed for entering negative amount in Journal lines?
While setting up the cross validation rules is it necessary to enable the SECURITY RULE check box along with CROSS VALIDATION RULE check box in flexfield structure. plz clarify my dt
What is the meaning holding tax?
What is meant by with-holding tax invoice?
How to support projects life cycles details?
1.what is the name of program to create invoice automatic from po.? 2.How to auto upload the bank statement? 3.PO tax has not flown to invoice . why? Debit memo not generated for return of goods.??
0 Answers Transasia Bio Medicals,
What is average Balance In Oracle Financials?