Who's Online Now
0 registered members (), 3 guests, and 12 spiders.
Key: Admin, Global Mod, Mod
Newest Members
lmartin, Kevin, Andi, nicwoody, appetite11
1272 Registered Users
Recent Posts
Migration into Existing Payroll and RTI
by hpatel15. 18/07/18 11:08 AM
Retropay Enhanced Performance Issues
by delboy. 17/07/18 06:06 AM
HR Intelligence in R12.2
by elmilsse. 09/07/18 10:53 AM
by sheebs. 04/07/18 10:46 AM
Top Posters(30 Days)
delboy 4
sheebs 3
Popular Topics(Views)
458,896 PAYE RTI
54,164 HR_PF.K RUP4
Previous Thread
Next Thread
Print Thread
Rate This Thread
#12025 - 07/09/17 10:29 AM Faster Payments  
Joined: Jun 2005
Posts: 254
pat Offline
claiming squatters rights
pat  Offline
claiming squatters rights

Joined: Jun 2005
Posts: 254
Hardy's Way
Has anyone set-up an automated Faster Payments process? If so what advice can you give.

We currently create BACS entries which are voided and then create manual Faster Payments outside of Oracle, but are looking to have a more automated approach.

My current thought is to create a "Faster Payments" assignment set for use in a payroll run > prepayments > BACS cycle followed by a custom concurrent process to modify the BACS .mf file header to the Faster Payments format. If anyone has an alternative idea I'm open to suggestions.

#12054 - 03/10/17 10:20 AM Re: Faster Payments [Re: pat]  
Joined: May 2008
Posts: 426
SBi Offline
battle-hardened campaigner
SBi  Offline
battle-hardened campaigner

Joined: May 2008
Posts: 426
By "Faster Payments" do you mean running additional quickpay and then processing the payment separately in addition to normal BACS?

#12056 - 04/10/17 08:56 AM Re: Faster Payments [Re: SBi]  
Joined: Jun 2005
Posts: 254
pat Offline
claiming squatters rights
pat  Offline
claiming squatters rights

Joined: Jun 2005
Posts: 254
Hardy's Way
Yes I'm looking to pay selected quick pays via "Faster Payments" rather than BACS.

Just for clarification, "Faster Payments" is an automated clearing system like BACS and CHAPS (for corporations the fees tend to be a lot more than a BACS transaction but far, far less than a CHAPS). From the limited amount of info I can glean from the internet I believe that if the Payee holds an account with one of 10 banks then the payment hits the account in a matter of hours, if not it gets processed as a BACS transaction.

The issue is that Oracle does not provide a concurrent process to generate a "Faster Payments" file so would expect us to mark the prepayment as an external payment and generate the Faster Payment transaction manually.

Moderated by  CT, delboy 

Forum Statistics
Most Online90
Mar 5th, 2017
Today's Birthdays
No Birthdays
Recent vacancies
Top Posters(All Time)
CT 2,092
bcooper 1,289
delboy 1,286
paulgos 434
SBi 426
pat 254
Gus 252
vkumar 223
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31
Powered by UBB.threads™ PHP Forum Software 7.6.0
Page Time: 0.017s Queries: 15 (0.004s) Memory: 2.7443 MB (Peak: 2.8876 MB) Zlib disabled. Server Time: 2018-07-20 18:06:14 UTC