Do you use Oracle Cloud’s automatic draft process? If you answered yes, then this read is for you!
When the customer bank account is created or updated via the user interface, the system defaults to the current system date’s start date. The same situation happens with the “From Assignment Date” field in the customer site bank account assignment record, and both fields are not updateable from the UI. See the screenshot below for example:
The site bank account plays an important role in the automated ACH draft process to draw cash from a preauthorized Customer bank account. The receivable invoices need to be selected by the automatic receipt process to draft the customer’s bank account. If the invoice dates are older than the start date on customer bank accounts, the receipt process will not select the AR transactions for drafting.
There are two options to resolve this issue:
- Create or update the bank account via the Oracle FBDI data load or (https://docs.oracle.com/en/cloud/saas/financials/21a/oefbf/receivables.html#uploadcustomers-3116). This process has limitations on the spreadsheet upload to only the customer account start date as bank account start date.
- The recommended approach is to update these dates using below REST APIs. Both these start dates will have to created/updated with a date earlier than the AR transaction date:
fscmRestApi/resources/11.13.18.05/externalBankAccounts
fscmRestApi/resources/11.13.18.05/instrumentAssignment
Note: This workaround will only work if the AR transactions are not already created in the system. If the transactions already exist, the start dates on the bank accounts should be updated, followed by duplicating the transactions, canceling the prior invoices, and re-run the automatic receipt process to allow the new transactions to be selected by the draft process.
