Define receipt classes to determine the required processing steps for receipts to which you assign payment methods with this class. These steps include creation/confirmation, remittance, and reconciliation. For example, you must create and remit a direct debit, but you must create, confirm, and remit a bills receivable remittance. You can specify any combination of these processing steps with one exception: if you confirm and reconcile, then you must also remit. If you enter No for all three of these steps, Receivables automatically creates receipts assigned to this receipt class with a status of Cleared.

Receivables uses the payment method you assign to a receipt class to determine how to account for receipts you create using this receipt class.For each receipt class, you can specify a creation method, remittance method, and whether to require bank clearance for receipts that you assign to this class. If you are defining a receipt class for bills receivable creation payment methods, then Require Confirmation, Remittance Method, and Clearance Method are disabled.

Receivables lets your customers pay their invoices via credit cards and electronic funds transfer (both non-Automatic Clearing House direct debit and ACH bank account transfers).
To accept payment via credit cards or non-ACH direct debit, use your existing Receivables setup, or optionally define a new receipt class and payment method to be used with these transactions.
To accept payment via ACH bank account transfer, define a new receipt class and payment method to be used with these transactions. 

Remittance Method
If you checked the Require Confirmation box, choose a Remittance Method. The remittance method determines the accounts that Receivables uses for automatic receipts that you create using payment methods to which you assign this receipt class. Choose one of the following methods:

• Standard: Use the remittance account for automatic receipts or for standard bills receivable assigned to a payment method with this receipt class.
• Factoring: Use the factoring account for automatic receipts or for factored bills receivable assigned to a payment method with this receipt class.
• Standard and Factoring: Choose this method if you want Receivables to select receipts assigned to this receipt class for remittance regardless of the batch remittance method. In this case, you can specify either of these remittance methods when creating your remittance batches.
• No Remittance: Choose this method if you do not require receipts assigned to this receipt class to be remitted.

Clearance Methods
To require receipts created using a payment method assigned to this receipt class to be reconciled before posting them to your cash account in the general ledger, choose one of the following Clearance Methods:

• Directly: Choose this method if you do not expect the receipts to be remitted to the bank and subsequently cleared. These receipts will be assumed to be cleared at the time of receipt entry and will require no further processing. Choosing this method is the same as setting Require Bank Clearance to No in previous releases of Receivables.
• By Automatic Clearing: Choose this method to clear receipts using the Automatic Clearing program. (Receipts using this method can also be cleared in Oracle Cash Management.)
• By Matching: Choose this method if you want to clear your receipts manually in Oracle Cash Management.