The payment process profile defines how Oracle Fusion Payments should manage the document payable, payment, and payment file throughout these payment process steps: Payment Creation Payment File Creation Formatting Transmission Printing Reporting The document payable is a transaction that is selected for payment. Most commonly, these are represented by Oracle Fusion Payables invoice payment installments. Similar documents payable are grouped together into payments during the payment process. The payment process request is a grouping of documents payable selected for payment processing. This grouping is originated by the invoice selection process. The payment process request contains one or more documents payable to be paid and optional payment processing instructions. The payment is a transfer of funds to a supplier, customer (for refunds), or employee (for expense reimbursements). The payment file is a grouping of payments to be paid the same way, along with aggregate payment information. Ultimately, the payment file is transmitted to a bank for further processing and payment, or printed as a check run.
The funds capture process profile defines how Oracle Payments should manage the funds capture transactions and settlement batches throughout these funds capture process steps: Formatting Transmission Acknowledgement Processing Settlement Batch Creation Reporting Unlike Payment Process Profile, the Funds Capture Process Profile is derived from routing rules A settlement batch is a grouping of settlements (and sometimes credits), along with aggregate settlement information. It is ultimately formatted and transmitted to a payment system for further processing and settlement. An internal payee is a group of business units and supported capabilities. An internal payee’s Routing Rules drive which payment system will handle the transaction and what process definition (funds capture payment profile) will be used.