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Remittance in R12

Discussion in 'Oracle Financials' started by symtom, Oct 1, 2012.

  1. symtom

    symtom Active Member

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    What is the difference between standard remittance and factoring remittance? Can any one give real time scenarios for the above?
     
  2. yingsras

    yingsras Forum Advisor

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  3. symtom

    symtom Active Member

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    Thanks yingsras,

    I did even refer to those links and R12 User Guide but was unable to get the difference in practical sense!!

    AR Gurus, anyone who can shed more light into this?
     
  4. niranjan141

    niranjan141 Active Member

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    Hi,

    Standard Remittance : Money is transferred from customer bank account to your internal bank account on 'maturity date'

    Factor Remittance : Money is transferred from customer bank account to your internal bank account before 'maturity date', and system created a short term debt to bank. To handle if customer defaults the payment to bank.

    Hope this will help.

    Regards,
    Niranjan