Did you know that PeopleSoft offers functionality to refund a credit balance to a Customer by using a Single Payment Voucher without having to create a Supplier ID for that Customer?
In PeopleSoft Update Image 45, we introduced a flexible payment method for single use transactions such as customer refunds from AR using the Single Payment Voucher functionality in Accounts Payable. With this feature, one no longer needs to define permanent supplier IDs for one-time refund payments.
The flexibility of this functionality allows organizations to create Single Payment Vouchers to be generated for customers who don’t have a Supplier ID linked to it and do not wish to create a one-time Supplier in order to create a Voucher for a refund. The use of the Single Payment Supplier is enabled at the Business Unit where you will create two definitions to enable two different methods of payment. One generic Supplier ID would be for payments by Check and the second generic Supplier ID would enable Electronic Funds Transfers (EFT) if that is the preferred method of payment. 
Figure 1 – Customer with no supplier id
Figure 2- Single Payment Supplier Enabled
For the Single Payment Voucher, The generic “Check Supplier ID” would be used when a Customer does not have any MICR ID in their profile or has MICR ID defined with no bank information. Check reimbursement is the only option for this scenario.
Figure 3 – Customer with MICR
For Single Payment Voucher, the generic “EFT Supplier ID” would be used when a Customer has MICR information defined with associated bank information.
Single Payment Vouchers are created as below with generic “EFT Supplier ID” after providing all the details for the customer refund payment or reimbursement.
With the new process-
- Customers can create a refund using one-time supplier. They no longer need to define permanent supplier IDs for a one-time refund payment
- The AR Refund process has been enhanced to utilize both single payment supplier and single payment voucher
- The Voucher Build Process has been enhanced to create a single payment voucher for this refund.
- Overall, this results in less manual work for both AR and AP users. There is no need to create permanent suppliers – AR department does not have to request AP to add new suppliers each time a refund has to be given. The functionality also leverages existing AP functionality of single payment vouchers and suppliers resulting in better cross product integration.
A single payment voucher with enhanced setup and processes is created as below with EFT supplier id.
Figure 4- Single payment voucher
PeopleSoft Receivables with the introduction of flexible payment method for the refunds has eliminated need to create suppliers in the master just make one time payment.