Post on 12-Jan-2016
description
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Topics in Receivables:
1. Key Flex Fields
2. System Parameters
3. Open Periods
4. Payment Terms
5. Statement Cycle
6. Remit to Address
7. Collector
8. Application Rule Set
9. Assign Tax profile to operating unit
10. Customers profile class
11. Customer
12. Transactions
13. Transaction type
14. Transaction Source: Manual & Import
15. Transactions – Invoice
16. Transaction – Debit Memo
17. Transaction – Credit Memo
18. Transaction – Deposit
19. Transaction – Guarantee
20. Transaction – Charge back
21. Bank Account
22. Receivables Activities
23. Receipt Class
24. Receipt Source
25. Receipts
26. Auto Accounting
27. Invoice Rules
28. Accounting Rules
29. Transaction Batch
30. Auto cash rule set
31. Receipt Batch
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32. Miscellaneous receipt
33. Receipt Reversal
34. Remittance
35. Refund
36. Transfer to GL
37. Period end Close
7. Collector2
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Navigation: Setup Collections Collectors
A person who is collecting money from the customer is called a collector.
Enter Name of the Collector
Choose name of the Employee
Enable check box √ Active
Save your work
8. Application Rule Set
Setup Receipts Application Rule Sets
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Application rule set is determined, how to apply the receipt amount against various
invoice components.
Invoice Components are:
- Item
- Tax
- Freight
- Financial Charges
Application Rule Set
Name your Application rule set
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Enter application rules & rule details.
Application rules Rule details
Seq Rules Type Tax Treatment Rounding
Over application rule
1 Line Line before √
2 freight Freight None √
3 Finance Charges Charges None √
Over application rule = Excess amount received.
Save
√ Freeze
Save your work.
9. Assign Tax Profile to Operating Unit
Step: 1
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Assign Tax Manager Responsibility to user
System Administrator Security User Define
Query your user name
Assign “Tax Managers – E Biz tax” responsibility
Step: 2
Assign Party Tax Profile to operating unit
Tax Managers Responsibility
Parties Party Tax Profiles
Assign Tax Profile to Operating Unit
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Party type: Operating unit owning tax content
Party Name: Lenin Hyderabad OU
Go
Assign Tax Profile to Operating Unit
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Choose “Create Tax Profile” button
Choose “Tax Reporting Codes” tab
Tax Reporting type code: Member State
Reporting Code: US
Effective from: 12-Apr-2011
Apply.
10. Customers Profile Class
Profile class is used to group the customers based on certain parameters.
We can classify the customers as Good, Average and below average.
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Define Profile class
Navigation: Customers Profile Classes
Name your Customer Profile class
Enable √ Active Check box
Grouping rule: Default
Choose Payment terms
Choose Statement cycle
Choose collector
Choose Auto cash rule set
Choose profile class amounts
Customer Profile Class
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11. Customer creation
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Navigation: Customers Customer
The person to whom we are selling goods and services is called Customer.
There are 3 levels in customer definition:
1. Customer Header
2. Customer address
3. Business purpose
Create Customer
Navigation: Customers Customer
Choose Customer type : Organization
Click on “Create” button
Customer creation
Enter Customer name and Alias Name under customer information
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Go to Under “Account information” tab
Choose Account type: External
Choose profile class
Customer Creation
Go to “Account Site Address” tab
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Enter Country and Address line 1
Go to “Account site details” tab
Choose operating unit
Customer Creation
Go to “Business Purposes”
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Enable “Primary” check box against bill to
Save and add details
Go to “Account Profile” tab
Choose your “profile class”
Choose Collector
Credit Rating: Excellent
Credit classification: Low risk
Choose review cycle
Choose Account status
Risk code: Low
Customer Creation
Tolerance: %
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Collectible %
Enable check box credit check
Go to Terms Tab: Choose payment Terms
Save.
Customer creation
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Go to “Profile Amounts” tab
Choose: Minimum receipt amount, credit limit, and minimum dunning invoice
amount.
Go to “Sites” tab
Click on “Details” button
Enter all the tabs as above for site level.
12. Transactions
Transactions are nothing but invoices.
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There are 7 types of transactions in Accounts receivables.
1. Invoice
2. Credit Memo
3. Debit Memo
4. Deposit
5. Guarantee
6. Charge back
7. Bills Receivables
13. Transaction Types
Navigation: Setup Transaction Transaction type
Transaction type will determine the features of Transactions:
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The Features are:
1. Accounting information
2. Whether post to GL or not
3. Whether we can print invoices or not
14. Transaction Source
Transaction source will determine the numbering for individual transactions and
batch transactions. And also it will determine “Transaction type”.
There are 2 types of transaction Source.
1. Manual18
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2. Imported (Automatic)
Imported transaction source is used to import the transactions in to AR
Define import transaction source.
Navigation: Setup Transaction Sources
Choose OU & LE Name your transaction source Choose type as IMPORTED
Go to “Batch Source” tab
Enter Description
Enter Automatic batch numbering & Automatic transaction numbering
Choose standard transaction type
Go to “Auto invoice options” tab
Invoice line: Reject invoice GL date closing period: Adjust Grouping rule: Default
Transaction Source - Imported
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Create Transactions INVOICE
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Step: 1 Define Transaction type
Navigation: Setup Transaction Transaction type.
Choose
Operating unit
Legal Entity
Name your Transaction type
Create Transactions INVOICE
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Choose
Class : Invoice
Creation Sign: Positive Sign
Transaction Status: Open
Printing option: Print
Choose Application Rule Set
Choose Payment terms
Enable appropriate check box
Enter the GL Accounts
Notes:
Natural Application and Allow Over application Rules
The transaction type that you assign to a transaction indicates the type of application
that is permitted for that transaction: natural application only, or over application.
The Natural Application Only and Allow Over application options determine how
applications can affect the balance due for transactions using this type.
Natural Application refers to the type of application, either positive or negative, that a
transaction requires to become closer to zero. For example, invoices have a positive
balance, so to reduce the balance due you need to create a negative application (such as
apply a receipt).
Over application indicates whether you can over apply transactions using this type. For
example, if you apply a $500 receipt to a $400 invoice, you over apply the invoice and
reverse its sign (from positive to negative).
Create Transactions INVOICE
Step: 2 Define Manual Transaction Source
Navigation: Setup Transactions Source22
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Choose OU & LE Name your transaction source Choose type as manual
Go to “Batch Source” tab
Enter Description
Enter Automatic batch numbering & Automatic transaction numbering
Choose standard transaction type
Save your work
Create Transactions INVOICE
Step: 3 Create Standard Invoice
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Navigation: Transactions Transactions
Invoices can be created in 2 ways:
1. Individual Invoice2. Batch Invoice
Individual Invoice:
Create Transactions INVOICE
Choose transaction Source, so that, system will automatically copy the fields: Class, Type, Currency and Legal Entity.
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Go to “Main” tab Choose Bill to Choose Payment terms
Go to “More” tab
Choose “Remit to Address”
Create Transactions INVOICE
Click on “Line Items” button Enter Item details under “main” tab
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Click on “distributions” button
Choose GL Account “Revenue Account”
Create Transactions INVOICE
Go to freight Tab and enter freight amount and GL Account
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Save your work
System generate number for this invoice
Say “Complete”
Create Transactions INVOICE
Journal entry will be:
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You will see balance due fields with the amounts entered in various tabs in this invoice.
If you want to modify the invoice, say “Incomplete” and do changes
Again say “Complete”.
Create Transactions INVOICE
To see the details of invoice, click on “Details” button
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To see invoice output in printed form, click on Logo
Create Transactions INVOICE
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21. Update Bank Account – Receivables Controls
Setup Receipts Banks
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Click on Banks
Enter Bank Name in search Criteria
Say GO
Update Bank Account – Receivables Controls
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Click on “Create Branch”
Say Cancel
Enter Branch name and say GO
Click on “Create Account”
Update Bank Account – Receivables Controls
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Say “Cancel”
Select bank account and
Click on “update account” button
Update Bank Account – Receivables Controls
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Say “Next”
Choose: “Account Controls” tab
Go to “Receivables Controls” tab
√ Multiple currency receipts
Say: Save and Next
Update Bank Account – Receivables Controls
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Go to “Account Access” tab
Click on “Options”
Go to “Receivables Options”
Enter the GL Accounts
Say “Apply”
Update Bank Account – Receivables Controls
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Say “Finish”
22. Receivable Activities
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Receivable activities are used to default the accounting information for various receivable activities. Those are:
1. Adjustment2. Bank Error3. Endorsment4. Earned Discount5. Unearned Discount6. Finance Charge7. Miscellaneous Cash8. Short term Debt
Step: 1 Define Earned discount receivable activity
Navigation: Setup Receipts Receivable activities
Name your Receivable Activity Type: Earned Discount GL Account Source: Activity GL Account Tax rate code source: None Activity GL Account: Discount taken (Earned) Account
Receivable Activities – Unearned Discount
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Receivable Activities – Adjustment
Receivable Activities – Bank Error
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Receivable Activities – Finance Charges
Receivable Activities – Endorsment
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Receivable Activities – Misc Cash
Receivable Activities – Short term Debt
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23. Receipt Class
Receipt class will determine the:
- Receipt creation method
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- Remittance method- Clearance method- Receipt method for various receipts
Step: 1 Create Manual Receipt class
Setup Receipts Receipt class
Name your Receipt class Creation method: Manual Remittance method: Standard and Factoring Clearance method: By matching Receipt Method: Check
Click on “Bank Accounts” button
Choose bank account details GL Accounts will be copied by system automatically Choose Unearned discount receivable activity Choose earned discount receivable activity
Receipt Class
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Enable:
√ Over ride
√ Primary
** Each currency should have one primary
Save your work
Receipt Class
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Creation Methods:
1. Manual
2. Automatic
3. AP / AR Netting
4. Bills receivables
5. Bills receivables remittance
Remittance Method:
1. No Remittance
2. Standard
3. Factoring
4. standard and factoring
Clearance Method:
1. Directly
2. By Matching
3. By Automatic clearing
Receipt Method:
1. Check
2. EFT
3. Wire
4. Clearing
Receipt Class – Automatic
Navigation: Setup Receipts Receipt class
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Name your Receipt class Creation method: Automatic Remittance method: Standard and Factoring Clearance method: By matching Receipt Method: Check
Click on “Bank Accounts” button Choose bank account details GL Accounts will be copied by system automatically Choose Unearned discount receivable activity Choose earned discount receivable activity
Receipt Class – Automatic
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Enable:
√ Over ride
√ Primary
** Each currency should have one primary
Save your work
24. Receipt Source
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Setup Receipts Receipt Sources
It will determine:
- Receipt class
- Payment method
- Numbering for receipt batches
- Bank Account
There are 2 types of receipt sources
1. Manual
2. Automatic
Define Manual Receipt Source
Define Manual Receipt Source
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Choose your Operating Unit
Name your Receipt Source
Receipt Source type: Manual
Choose:
Receipt class
Payment Method
Bank Account
Batch Numbering: Automatic
Last used: 0
Save your work.
Define Automatic Receipt Source
** We cannot define automatic Receipt Source. We need to use default automatic receipt
source.
Choose operating unit
Name: Automatic receipts Query Ctl F11
Receipt source type: Automatic
Define Automatic Receipt Source
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25. Receipts
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Recording the collection information in AR is called Receipts.
These receipts can be created in 2 ways:
1. Manual
2. Automatic
Manual Receipts
There are again 2 manual receipt creation methods:
1. Individual Receipt
2. Batch Receipts
Create Individual Receipts
Receipts Receipts
Receipts – Individual Receipts
Choose Receipt method: Check
Enter receipt date
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Enter receipt number manually (Check number of customer)
Enter receipt amount
Receipt type: Standard
State:Confirmed
** Now the status is “unidentified”
Go to “Main” tab
Choose name of the customer Or Transaction number
Choose Remittance bank (Internal bank account)
Now the status is: Unapplied
Receipts – Individual Receipts
Go to “More” tab to view details:
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Go to “Main” tab again
Click on the button “Search and Apply”
Uncheck all the fields and enable only √ Invoice check box
Receipts – Individual Receipts
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Click on “Apply”
Save.
Now the Status is “Applied”.
Receipts – Individual Receipts
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** Earned Discount: is coming from payment terms
If you modify in the receipts latter, then balance will show as unearned discount
Go to: Tools Create Accounting
Choose “Create Final Accounting” Say OK
Go to: Tools View Accounting To view journal entry
Receipts – Individual Receipts
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Journal Entry:
Confirmed Cash A/c Dr 135000
Earned Discount A/c Dr 6750
To Receivables 135000
To On Account Cash 6750
Query the transaction to check the status
Navigation: Transactions Transaction
F11
Enter transaction Number
CTL F11
Now you can see balance due as zero
Receipts – Individual Receipts
Click on “Details” to view invoice details
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26. Auto Accounting
Auto accounting is used to default the accounting information into various transactions.
Auto accounting will be defined for:
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- Receivables Account
- Revenue Account
- Tax
- Freight etc.
Step: 1 Define auto accounting rules for receivables account
Navigation: Setup Transactions Auto accounting
Choose operating unit
Type: Receivables
Choose values for segments from “table name” or “Constant”
Auto Accounting
Step: 2 Define auto accounting rules for Freight account
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Step: 3 Define auto accounting rules for Revenue account
Auto Accounting
Step: 4 Define auto accounting rules for Unearned Revenue account
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Step: 5 Define auto accounting rules for Unbilled Receivables account
16. Debit Memo
Debit Memo will be created when customer is under charged.
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Step: 1 Define Memo Lines
Navigation Setup Transactions Memo lines
Memo lines are used to create transactions without item information.
Choose Operating Unit
Name the memo line
Type: Line
Enter Revenue Account
Debit Memo
Step: 2 Define Debit Memo Transaction type
Navigation: Setup Transaction Transaction type
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Choose
Operating unit
Legal Entity
Name your Transaction type
Choose
Class : Debit Memo
Creation Sign: Positive Sign
Transaction Status: Open
Printing option: Print
Choose Application Rule Set
Choose Payment terms
Enable appropriate check box
Enter the GL Accounts
Debit Memo
Step: 3 Define Debit Memo Transaction Source
Navigation: Setup Transactions Sources
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Name your transaction source Choose type as manual
Go to “Batch Source” tab
Enter Description
Enter Automatic batch numbering & Automatic transaction numbering
Choose standard transaction type
Save your work
Debit Memo
Step: 4 Create Debit Memo
Navigation: Transactions Transaction
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Choose Source, automatically other fields will be copied by system
Enter customer details in Bill to fields
Choose payment terms
Go to “More” tab
Choose “Standard Invoice number” under cross reference field
Debit Memo
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Click on “Line Items”
Debit Memo
Choose “Memo Line” in description column64
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Enter qty and price
Save and close this window
Go to “Distribution” button to see GL accounts information
Save and close this window
Say “Complete”
Debit Memo
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17. Credit Memo
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When customer return goods, to reduce customer balance we use Credit Memo (-) sign.
Step: 1 Define Memo Lines
Navigation Setup Transactions Memo lines
Memo lines are used to create transactions without item information.
Choose Operating Unit
Name the memo line
Type: Line
Enter Revenue Account
Credit Memo
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Step: 2 Credit Memo Transaction Type
Navigation: Setup Transactions Transaction type
Name your transaction type
Class: Credit Memo
Creation sign: Negative Sign
Choose GL accounts
Credit Memo
Step: 3 Define Credit Memo Transaction Source
Navigation: Setup Transactions Sources
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Choose OU & LE Name your transaction source Choose type as manual
Go to “Batch Source” tab
Enter Description
Enter Automatic batch numbering & Automatic transaction numbering
Choose standard transaction type
Save your workCredit Memo
Step: 4 Assign Credit Memo source to the Invoice Source
Navigation: Setup Transactions Source
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Query your invoice source
Choose “Credit Memo Transaction Source” under “Credit Memo batch Source”
Save.
Credit Memo
Step: 5 Create Credit Memo against specific transaction.
Navigation: Transactions Credit Transactions
** In case of credit memo against specific transaction, when we create credit memo
transaction amount will be deducted.
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Step: 5.1 create one standard Invoice
Navigation: Transactions Transactions
Credit Memo
Step: 5.2 Create Credit Memo against specific transaction
Navigation: Transactions Credit transactions
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Choose Invoice number Say “Find”
Credit Memo
Enter reason for credit memo
Click on “Credit Lines”
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Go to Main Tab
Enter Num: 1
Enter quantity
Unit price in negative amount
Save and close this window
Credit Memo
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Say “Complete”
Credit Memo
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Step: 5.3 Query the invoice transaction to check the balance
Navigation: Transactions Transaction
Click on “Details” button
Credit Memo
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Step: 6 On Account Credit Memo
Navigation: Transactions Transactions
** On Account credit memo will be created against customer account.
Choose source: Credit memo source
Choose customer name
Go to “Line Items”
Choose Memo line under description and enter credit amount as negative
Save and Complete.
Credit Memo
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18. Deposit
Deposit is an advance payment made by customer to the Organization.
Latter it will be adjusted for future invoice or apply to future liability.
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Step: 1 Define Deposit transaction type
Navigation: Setup Transactions Transaction type
Name your Transaction type Class: Deposit Creation Sign: Positive sign Invoice type: Invoice transaction type Choose credit memo transaction type Choose Application rule set Choose terms Allocation Basis: Lines only Choose Receivable Account Save your work
Deposit
Step: 2 Define Deposit Source
Navigation: Setup Transactions Sources
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Name your deposit source
Enter automatic batch numbering
Enter automatic transaction numbering
Choose standard transaction type as Deposit transaction type
Save your work
Deposit
Step: 3 Create Deposit Transactions
Navigation: Transactions Transactions
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Choose Deposit Source Choose customer details Choose payment terms as “Immediate”
Go to “Commitment” tab
Enter Deposit Amount Enter Description: Generic Commitment
Go to “Distributions” tab to view accounts
Save and close this window
Say Complete.
Deposit
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Deposit
Step: 4 Record the Receipt against Deposit
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Navigation: Receipts Receipts
Choose receipt method: Check Enter Receipt Number Enter receipt amount Receipt type: Standard
Go to “Main” tab
Choose Deposit transaction number Say “Apply”
Deposit
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Save.
Deposit
Step: 5 Check the Deposit Balance Status
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Navigation: Transactions Transactions
Query your deposit transaction
Click on “Details” button
Now Commitment Balance: Rs 500000
Deposit
Step: 6 Create one standard invoice and adjust against deposit amount
Navigation: Transactions Transactions
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Choose Invoice source Choose Customer details Payment terms: Immediate Choose Deposit invoice number under “Commitment” field
Click on “Line Items” button
Enter Item and Quantity details
Deposit
Go to “distributions” tab
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Say “Complete”
Deposit
Step: 7 Check the deposit balance
Navigation: Transactions Transactions
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Query Deposit transaction number
Click on “Details”
Now Commitment balance: Rs 300000
Deposit
Tools Create Accounting
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Tools View Accounting
Journal Entries:
19. Guarantee
It is an assurance from the Customer to buy goods or services from the Organization.
Under guarantee transactions, amount will be collected from customers when we create invoice transactions only.
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Setup Steps
Step: 1 Define Guarantee transaction type
Navigation: Setup Transactions Transaction type
Step: 2 Define Guarantee Transaction Source
Navigation: Setup Transactions Source
Step: 3 Create and Complete Guarantee Transaction
Navigation Transactions Transaction
Step: 4 Create invoice transaction with reference of Guarantee
Navigation Transactions Transaction
Step: 5 Receive money from the customer against invoice transaction
Navigation Receipts Receipts
20. Charge Back
Charge back is nothing but closing the existing invoice and creating new invoice with new due dates.
Step: 1 Define charge back receivable activity
Navigation: Setup Receipts Receivable Activity89
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F11
Query Name “Charge back adjustment” (CTL F11)
Type: Adjustment
Activity GL Account: Charge back Burden account
Charge Back
Step: 2 Define charge back transaction type
Navigation: Setup Transactions Transaction type
Name your Charge back transaction type Creation Sign: Positive Sign Enter GL Accounts
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Step: 3 Define charge back transaction source
Navigation: Setup Transactions Sources
Enter Name and Description for Charge Back Transaction Source Type: Manual Enter batch numbering Enter Transaction numbering Choose standard transaction type: Charge back transaction type Save your work
Charge Back
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Step: 4 Create Standard invoice
Navigation: Transactions Transactions
Enter standard invoice as usual Payment terms: Immediate Complete the Invoice
Charge Back
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Step: 5 Enter the receipt for partial amount and create charge back for remaining
amount.
Navigation: Receipts Receipts
Choose the Invoice number as per step 4 Receive partial payment
Charge Back
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Click on “Apply”
Place the cursor on “Balance Due” field
Click on “Charge backs” button
Charge Back
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Choose Type: Charge back transaction type
Enter Comment
Enter new due date
Save your work
Step: 6 Query the charge back invoice number
Navigation: Transactions Transactions
F11
Choose Source: Charge Back
CTL F11
Charge Back
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Charge Back
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Step: 7 Query old invoice (Standard original invoice)
Navigation: Transactions Transactions
27. Invoice Rules
Invoice rules will be determined the accounting period in which receivables are recognized.
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There are 2 types of Invoice Rules:
1. Bills in advance2. Bills in Arrears
Bills in advance: System will recognize the invoice amount as a advance or starting of a project.
Bills in Arrears: System will recognize amount at the end of the contract or project.
28. Accounting Rules
Accounting Rules will determined the Accounting Period in which Revenues are recognized.
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There are 4 types of accounting rules:
1. Daily Revenue Rates, All periods
2. Daily Revenue Rates, Partial Period
3. Fixed Schedule
4. Variable Schedule
Fixed Schedule – Accounting Rule
We will define duration of the project and % of Revenue of each accounting period, at the time of fixed scheduled accounting rule setup.
Step: 1 Define Fixed Schedule Accounting Rule
Navigation: Setup Transactions Accounting Rules
Enter Name and Description Type: Fixed Schedule Enter Number of periods System divide the 100% in to the number of periods
Fixed Schedule – Accounting Rule
Step: 2
Create Invoice with Fixed Schedule accounting rule with Bills in advance invoice rule.
Navigation: Transactions Transactions
Enter Standard invoice as usual
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Payment terms: Immediate Choose Invoice rule: In Advance
Go to Line Items to enter item, qty and price details
Go to “Rules” tab
Choose accounting rule: Fixed Schedule
Enter start date
Save and close this window
Say “Complete”.
Fixed Schedule – Accounting Rule
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Step: 4 Run Revenue Recognisation program
Navigation: View Request
Submit a new request Single request
Name of the program: Revenue Recognition
Fixed Schedule – Accounting Rule
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Choose operating unit
Parameters:
Print format: Detail
Commit Work: Yes
Say “Submit”
Ensure program completed Normal
View output
Fixed Schedule – Accounting Rule
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Variable Schedule - Accounting Rules
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At the time of set up the Variable Schedule Rule we will not enter duration of the
project & % of Revenue for each accounting period.
We enter only first period Revenue % at the time of accounting rule set up.
Duration of the project will be entered at the time of invoice entry.
Navigation: Setup Transactions Accounting Rule
Step: 2
Create invoice with variable Schedule accounting Rule with Bills in Arrears invoice Rule
Navigation: Transactions Transactions
Variable Schedule - Accounting Rules
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Variable Schedule - Accounting Rules
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Step: 3 Run revenue Recognition Program
Navigation: View Request
Submit a new request Single request
Name of the program: Revenue Recognition
Choose operating unit
Parameters:
Print format: Detail
Commit Work: Yes
Say “Submit”
Ensure program completed Normal
View output
Variable Schedule - Accounting Rules
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29. Transaction Batch
Transaction batch is used to group the transactions based on the certain parameters.
Navigation: Transactions Batches
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Choose invoice source
Status: New
Enter Control count and Control Amount
Save
Change status to “Open”
Transaction Batch
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Click on “Transactions”
Enter standard Transactions as usual
Say Complete
Click on “New” button to create more transactions.
Transaction Batch
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Click on “Transaction Summary” to view transactions
30. Auto Cash Rule Set
Auto cash rule set is used to apply receipt amount against invoices.
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It is having 5 Rules:
1. Clear the account
2. Clear the past due invoices
3. Clear the past due invoices grouped by payment terms
4. Match payment with invoice
5. Apply to the oldest invoice first
Define Auto Cash Rule Set
Navigation: Setup Receipts Auto cash rule set
Enter Name for Auto cash rule set
Discounts: Earned and unearned
Remaining Remittance amount: Unapplied
Choose the sequence of Auto cash rule set
31. Receipt Batch
Receipt batch is used to group the Receipts based on Certain parameters.
There are 3 types of Receipts batches:
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1. Manual Regular
2. Manual Quick
3. Automatic
Manual Regular – Receipt Batch
Customer balances will be updated as soon as you save the receipts.
Create Manual Regular batch
Navigation: Receipts Batches
Manual Regular – Receipt Batch
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Click on “Open” or “New”
Receipt Method: Check
Receipt Number: 5
Enter Receipt Amount
Receipt type: Standard
Status: Confirmed
Apply
Save
Manual Quick – Receipt Batch
Customer balances will not be updated when we save the receipt information.
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Customer balances will be updated when we run Post Quick cash program with the help
of auto cash rule set.
Define Manual Quick Batch
Navigation: Receipts Batches
Batch Type: Manual – Quick
Batch Source: Manual Receipt Source
Currency: INR
Enter control count and Amount
Click on “Receipts”
Manual Quick – Receipt Batch
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Click on “Multiple”
Manual Quick – Receipt Batch
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Click on ”Post quick cash”
Ensure program completed Normal
32. Miscellaneous Receipt
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Non invoice related receipts is called miscellaneous receipts, such as interest on
investment, dividend etc.
Step: 1 Define Miscellaneous receivable activity
Navigation: Setup Receipts Receivable activities
Name Misc receivable activity
Enter GL Account
Save your work
Step: 2 Receipt of miscellaneous cash
Navigation: Receipts Receipts
Miscellaneous Receipt
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Choose Receipt Method
Enter receipt number
Enter receipt amount
Receipt type: Miscellaneous
Paid by: Enter customer name
Purpose: Activity: Choose Misc receivable activity
Click on “Distributions” button
Miscellaneous Receipt
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Say “OK”
Save
33. Receipt Reversal
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Receipt reversal is nothing but a kind of cancellation of Receipt.
There are 2 types of Receipt Reversal Methods:
1. Standard Reversal
2. Debit Memo Reversal
1. Standard Reversal
When we reverse receipt with the standard reversal, all the transactions which are
associated with the receipt will get reversed.
Step: 1 Query the invoice to check the balance due
Navigation: Transactions Transactions
Step: 2 reverse the receipt
Navigation: Receipts Receipts
Receipt Reversal – Standard Reversal
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Click on “Reverse” button
Choose Reversal Date
Choose Category and reason for reversal
Click on “Reverse” button
Receipt Reversal – Standard Reversal
Go to “More” tab to view the details
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Step: 3 Query the invoice transaction to view the balance
Navigation: Transactions Transactions
Receipt Reversal
2. Debit Memo Reversal
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When we reverse receipt using debit memo reversal all associate transactions WILL NOT
get reversed, but new debit get created with same amount.
Step: 1 Query the receipt which you want to reverse
Navigation: Receipts Receipts
Click on “Reverse” button
Receipt Reversal – Debit memo Reversal
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Choose Reversal Date
Choose Category and reason for reversal
Choose debit memo reversal type and Account
Click on “Reverse” button
System will generate debit memo transaction
Go to “More” tab to view details
Receipt Reversal – Debit memo Reversal
Step: 2 Query Debit memo transactions
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Navigation: Transactions Transaction
Query debit memo transaction created by system
34. Remittance
Remittance is nothing but sending receipt information to the bank for collection.
There are 2 types of Remittance Method.
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1. Manual
2. Automatic (Refund)
There are 3 steps in the remittance process.
1. Create
2. Approve
3. Format
Step: 1 Create remittance batch
Navigation: Receipt Remittance
Remittance
Batch type: Remittance
Currency: INR
Remittance Method: Standard
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Choose Receipt class
Choose Receipt method
Choose remittance bank
Save your work
System will generate Remittance batch number
Process status: Completed Creation
Click on “Manual Create” button
Go to “Main” tab
Remittance
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Place the cursor on “Receipt Method” Say CTL F11
Remittance
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Select the checks you wish to send to bank
Save
Approve
Close this window
Now process status is: Started Approval
Go to View Request Ensure program completed normal View output
Remittance
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View output of program:
Step: 2 Format the remittance batch
Navigation: Receipts Remittances
Query approved remittance batch number
Click on “Format”
Remittance
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Now Process status is: Started Format
Go to View Request
Ensure “Print Remittance” program completed normal
Remittance
View output:
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Step: 3 query the remittance batch t see the process status
Navigation: Receipts Remittances
Now the process status is: Completed Format
35. Refund process
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Refund is returning the receipt amount back to the Customer.
Step: 1 Define Refund receivable activity
Navigation: Setup Receipts Receivable Activity
Name your receivable activity
Type: Refund
Choose: Refund GL Account
Save your work
Refund process
Step: 2 create one invoice
Navigation: Transactions Transactions
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Choose payment terms: Immediate
Complete the invoice
Step: 3 Create receipt with excess amount and adjust invoice and keep remaining
Amount as unapplied or on account
Navigation: Receipts Receipts
Refund process
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Step: 4 Create remittance receipt to Bank (Automatic Remittance)
Navigation: Receipts Remittances
Refund process
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Click on “Auto Create”
Choose Customer details
Actions: Create, Approve and Format
Say “OK”
Process status: Started Creation
System assign batch number
Go to View Request
Ensure “Automatic Receipts Remittances Execution report” program completed normal.
View output.
Refund process
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Step: 5 Approve and Format Remittance batch
Navigation: Receipts Remittances
Query your remittance batch
Now status is: Completed creation
Click on “Receipts”
You will see system will selected the receipts automatically
Refund process
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Click on “Format”
Now system will approve & Format also.
Go to View Request
Ensure Programs Completed Normal
View output
Now the process status is: Completed Format
Refund process
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Step: 6 Query the receipt which you received excess to refund to customer
Navigation: Receipts Receipts
Refund process
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Click on “Apply”
Apply Apply to Amount applied Activity
√ Refund 50000 RIL Ltd Refund
√ On Account 0
Place cursor on Refund
Click on “Refund attributes”
Choose Customer
Choose Refund payment method: Check
Click on “Apply”
Save.
System will generate invoice in AP
One more button will come “Refund”
Validate the invoice
Make payment.
36. Transfer to GL
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Step: 1 Run create accounting program
Navigation: View Request
Submit a new request
Single request
Program name: Create accounting
Parameters:
Ensure program completed Normal
Transfer to GL
Step: 2 Query the un posted journals in GL and post
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Navigation: Journals Enter
Review the journals and post
Transfer to GL
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Step: 3 To run import program in GL
Navigation: Journals Import Run
Choose:
Source: Receivables
Choose your ledger
Selection Criteria: All group Ids
Click on “Import”
37.Period End Close
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Accounts Receivables period Closing Procedures
1. Run the final Auto Invoice Interface.
Interfaces Auto Invoice Autoinvoice Master Program
2. Correct all the Autoinvoice rejects and re-run.
3. Complete the manual invoices, credit memos & corrections for the
period, to find the detail run “Incomplete Invoices Report”.
Action: Go to transaction Window and Complete the Transaction
4. Run the Journal Entries Report.
5. Review the Journal Entries reports for 'unusual' accounts and correct
as needed.
6. Run the Receivables Reconciliation Report (AR Reconciliation
Report) to make sure that you balance with receivables.
7. Run the final post to General Ledger.
Interface General Ledger: General Ledger Transfer Program
8. Post GL batches
9. Run the Unposted Items Report - verify that there are no
unposted items.
10. Reconcile Accounts Receivable balances to General Ledger.
11. Close accounting period in Oracle Receivables
12. Open the next accounting period in Oracle Receivables
4.1 Opening/Closing of AR periods
Module: AR Module.
Navigation: Control Accounting > Open/Close Periods.
1. Complete the Transfer to General Ledger from the Receivables for the period to
be closed.
2. Select the period to close. Select ‘Closed’ from list of values in the Period
Status and save the record.
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3. Select the Next period to open. Click Open Next Period Button
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