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Implementation and User guide of AR Module

(Accounts Receivables) Basic Setups and Basic User Interface


Payment Terms Collectors Statement Cycle Define Auto Cash Rule Set Define Profile Classes Transaction Workbench (A) Transaction workbench (B) Transaction Source 7. Standard Memo Line 8. Print Remit To Address 9. Customer Creation 10. Transaction Creation (A) Sales Invoice (B) Credit Memo (C) Debit Memo (D) Deposit Memo (E) Recurring Invoice (F) Foreign Currency Invoice 11. Receipt Workbench (A) Receipt Classes (B) Receipt Activities (C) Receipt Sources (D) Distribution Set 12. Entering Receipt (A) Standard Receipt (B) Mass Allocation (C) Miscellaneous Receipt (D) Reversal Receipt (E) Adjustment (F) Charge-back (G) Receipt Write Off 13. Bills Receivables 1. 2. 3. 4. 5. 6.

1.

Payment Terms

Receivables lets you define standard payment terms for your customers to specify the due date and discount date for their open items. Payment terms can include a discount percent for early payment and you can assign multiple discounts to each payment term line. For example, the payment term '2% 10, Net 30' indicates that a customer is allowed a two percent discount if payment is received within 10 days; after 10 days, the entire balance is due within 30 days of the transaction date with no applicable discount.

Setup > Transactions > Payment Terms


Prepayment: Select the Prepayment check box if you are defining a prepayment payment term. Credit Check: To associate a credit check with this payment term, check the Credit Check box. Oracle Order Management uses this information to determine when to place an order on hold. Partial Payment: If you do not want to let your customers take discounts for partial payments on items associated with this payment term, then UN check both the Allow Discount on Partial Payments check box as well as the check box for the Discount on Partial Payment system option. Base Amount: Enter the Base Amount for this payment term. The default is 100, but you can change it.

Discount Basis: Enter the Discount Basis you want Receivables to use when calculating discounts for your invoices. Choose one of the following discount methods: Invoice Amount: Choose this option to calculate the discount amount based on the sum of the tax, freight charges, and line amounts of your invoices. Lines Only: Choose this option to calculate the discount amount based on only the line amounts of your invoices. 2

Lines, Freight Items and Tax: Choose this option to calculate the discount amount based on the amount of line items, freight, and tax of your invoices, but not freight and charges at the invoice header level. Lines and Tax, not Freight Items and Tax: Choose this option to calculate the discount amount based on the line items and their tax amounts, but not the freight items and their tax lines, of your invoices.

Effective Dates: Enter a range of Effective Dates for this payment term. If you do not enter an end date, this payment term will be active indefinitely. Print Leads Days: If you want transactions assigned to this payment term to be printed before the due date, enter a number of Print Lead Days. Receivables will print this transaction x number of days before the due date, where x is the number of days you enter here. Installment Option: Enter the Installment Option for items assigned to this payment term. This indicates how Receivables will allocate the freight and tax charged to transactions using this payment term. Choose 'Include tax and freight in first installment' to include all tax and freight charges in the first installment. Choose 'Allocate tax and freight' to distribute tax and freight charges across all installments. Seq: Enter a line number for the installment term that you are defining in the 'Seq' field. Enter a higher number for each installment term with a later due date. For example, if you create terms with 50% due in 15 days and 50% in 30 days, enter '1' in this field for the first line and '2' for the second line. Relative Amount: Enter the Relative Amount for this payment term. This is the numerator of the ratio that Receivables uses to determine the amount due for this installment of these payment terms. The sum of the relative amounts for all of the payment schedules that you define for each payment term must be equal to the base amount for this term. Due Days: Enter the number of Days after the invoice date that payment is due for this installment term (optional). For split payment terms, this number indicates the number of days after the invoice date that an installment is due. Date: Enter the Date on which payment is due for this installment term (optional). If you do not complete this field, enter a value for either Due Days or both Day of Month and Months Ahead. Day Of Month: If you are defining proxima terms, enter the Day of Month that payment is due for this installment term. For example, if payment is due on the fifteenth of each month, enter '15.' Months Ahead: If you are defining proxima terms and you entered a value for Day of Month, enter the Months Ahead to which this installment term of the proxima terms refer. For example, if you entered '15' for Day of Month and you enter '2' here, an invoice dated in May will have a due date of July 15. Billing Cycle: You cannot update the billing cycle, once a balance forward billing payment term is attached to a profile. Any value entered in Base Amount defaults to 100. Installment Options becomes disabled and any data entered before selecting a cycle defaults to Include tax and freight in first installment. You can populate only one row in the Payment Schedule section and the Sequence Number and Relative Amount values for the row default respectively to 1 and 100. Date Due becomes disabled. However, you can populate Days, Day of Month, and Months Ahead. 3

2.

Define the collectors

Receivables lets you define collectors and assign them to a profile class or to a customers credit profile class. When you assign a collector to a profile class, that collector becomes the collector for all customers assigned that profile class. You can modify collector assignments for your customers in the Customers window and for your profile classes in the Customer Profile Classes window.

Setup > Collection > Collector

Receivables displays active collectors and their descriptions as list of values choices in the Customers pages and in the Customer Profile Classes window. Receivables does not display inactive collectors in the list of values for these windows. You can make an existing collector inactive by unchecking the Active check box and then saving your work. If the collector you want to make inactive is associated with an active customer, Receivables displays a warning message. Name & Description: Enter a Name and Description for this collector. For example, enter the collectors first name in the Name field and full name in the Description field. Correspondence Name and Telephone No.: Enter a Correspondence Name and Telephone Number for this collector (optional). This information appears on your dunning letters if you enter it when formatting your dunning letters. Employee Name: If you use the Credit Memo Request Approval work flow, enter the collectors employee name or select it from the list of values. Receivables uses this information to ensure that the collector is also an employee and therefore can receive work flow notifications. Save your work. 4

3.

Statement Cycle

Define statement cycles to determine when to send statements to your customers. You enter statement cycles when you define or modify individual customer and site profile classes in the Customer Profile Classes window.

Setup > Print > Statement cycle

Name & Description: Enter a Name and Description for this statement cycle. Interval: Enter the Interval for this statement cycle to indicate how often Receivables will generate your statements. You can choose Weekly, Monthly, or Quarterly. Operating unit: Select an operating unit. Statement Date: Enter Statement Dates for this statement cycle. Receivables uses the statement date to determine past due items and calculate late charges. Skip: To prevent Receivables from printing a statement on a specific statement date. Note: The Date Printed field displays the last date you printed statements from the Print Statements window for each statement date within a statement cycle. Receivables does not display a printed date for statement dates that you have either elected to skip or have not yet selected for a statement submission. Receivables populates this field only if you print statements for all customers who are assigned to this statement cycle. 5

4.

Auto-cash Rule Set

The Post Quick Cash program uses Auto-Cash rules to determine how to automatically apply your receipts. Receivables uses your customers open balance along with the Auto-Cash rules to determine how to apply receipts and whether you allow partial payments to be applied to your customers items. If Receivables is not able to apply or fully apply a receipt, you can specify whether the remaining amount is left as UN-applied or OnAccount.

Setup > Receipts > Auto-cash Rule Set


Enter the type of Discount you want to automatically give to your customer for this Auto-Cash Rule Set. Choose one of the following Discount options: Earned Only: Your customer can take earned discounts according to the receipt terms of sale. You negotiate earned discount percentages when you define specific receipt terms. You can enter this option if Allow Unearned Discounts is set to Yes in the System Options window. In this case, Receivables only allows earned discounts for this Auto-Cash Rule Set. Earned and Unearned: Your customer can take both earned and unearned discounts. An unearned discount is one taken after the discount period passes. You cannot choose this option if the system option Unearned Discounts is set to No. None: Your customer cannot take discounts (this is the default).

Items In Dispute: To include transactions in dispute when calculating your customer's open balance Finance Charges: To include late charges when calculating your customer's open balance, check the Finance Charges check box. Automatic Matching Rule: If this rule set will include the Apply to the Oldest Invoice First rule, choose how you want to apply any Remaining Remittance Amount. Receivables uses this value to determine how to enter the remaining amount of the receipt if none of the Auto-Cash Rules within this rule set apply. Choose UN-applied to mark remaining receipt amounts as UN-applied. Choose OnAccount to place remaining receipt amounts OnAccount. To automatically apply partial receipts when using the Apply to the Oldest Invoice First rule, check the Apply Partial Receipts check box. A partial receipt is one in which the receipt minus the applicable discount does not close the debit item to which this receipt is applied. Auto Cash Rules: Apply to the Oldest Invoice First: This rule matches receipts to debit and credit items starting with the oldest item first. This rule uses the transaction due date when determining which transaction to apply to first. This rule uses the values you specified for this AutoCash Rule Set's open balance calculation to determine your customer's oldest outstanding debit item. Clear the Account: Post QuickCash uses this rule only if your customer's account balance exactly matches the amount of the receipt. If the receipt amount does not exactly match this customer's account balance, Post QuickCash uses the next rule in the set. Clear Past Due Invoices: This rule is similar to the 'Clear the Account' rule because it applies the receipt to your customer's debit and credit items only if the total of these items exactly matches the amount of this receipt. However, this rule only applies the receipt to items that are currently past due. A debit item is considered past due if its due date is earlier than the receipt deposit date. This rule considers credit items (i.e. any pre-existing, unapplied receipt or credit memo) to be past due if the deposit date of the receipt is either the same as or later than the deposit date of this preexisting receipt or credit memo. In this case, this rule uses a pre-existing receipt or credit memo before the current receipt for your AutoCash receipt applications. Clear Past Due Invoices Grouped by Payment Term: This rule is similar to the 'Clear Past Due Invoices' rule, but it first groups past due invoices by their payment term, and then uses the oldest transaction due date within the group as the group due date. When using this rule, Receivables can only apply the receipt if the receipt amount exactly matches the sum of your customer's credit memos and past due invoices. Match Payment with Invoice: This rule applies the receipt to a single invoice, debit memo, or chargeback that has a remaining amount due exactly equal to the receipt amount. This rule uses the values that you enter for this AutoCash Rule Set's open balance calculation to determine the remaining amount due of this customer's debit items. For example, if Finance Charges is No for this rule set and the amount of this receipt is equal to the amount due for a debit item minus its late charges, this rule applies the receipt to that debit item. If this rule cannot find a debit item that matches the receipt amount, Post QuickCash looks at the next rule in the set. This rule ignores the value of the Apply Partial Receipts option. 7

5.

Defining Customer Profile Classes

We can use Customer Profiles to group customer accounts with similar credit worthiness, business volume, and payment cycles. For each profile class you can define information such as credit limits, payment terms, statement cycles, invoicing, and discount information. You can also define amount limits for your finance charges, dunning, and statements for each currency in which you do business.

Customer > Profile class

Automatic Cash Rule Set: Determines the sequence of Auto-Cash Rules that Post Quick Cash uses to update the customer's account balances. Auto-Receipts Include Disputed Items: Check the box to include debit items that have been placed in dispute when you create automatic receipts for customers. Balance Forward Billing: To send a single, consolidated bill to customers assigned to this profile class, select the Enable check box. If you select the Enable check box, select the bill level and type of printing format for the balance forward bill. Bill Level: The level, account or site, at which you can generate balance forward bills. Selecting Account as the Bill Level at the customer profile class or account profile level lets you generate a single consolidated account level bill for all sites (with Balance Forward Billing enabled) for an operating unit. 8

Collector Name: Enter a default Collector for customer accounts or sites. Credit Analyst: Select the default credit analyst for customer accounts or sites. The credit analyst is responsible for monitoring the creditworthiness of the account and for assisting in the resolution of credit-related issues. Credit Classification: Select the default credit classification for customers assigned to this profile class. Updated classifications are assigned to the customer, either in Credit Management or through the Assign Customer Credit Classification concurrent program. Credit Management uses the credit classification for credit reviews. Credit Check: If you select the Credit Check box, then Oracle Order Management will check the customer's credit before creating a new order, provided that the Payment Term and Order Type associated with the order also require credit checking. Receivables does not check your customer's credit when you create transactions in Receivables. Credit Limit: The total amount of credit in this currency to give to customers with this profile. This field is used by Oracle Order Management. If credit checking is active for this customer and their outstanding credit balance exceeds this amount, then all new orders for this customer are automatically put on hold in Oracle Order Management. Currency: The currency for which you want to define amount limits. You define currencies in the Currencies window. Dunning: To enable Oracle Advanced Collections to send dunning letters to customers with past due items, check the Send Dunning Letters check box. Enable Late Charges: To assess late charges for customer accounts or sites. Grouping Rule: Enter the grouping rule to use for customers. Match Receipts By: Enter a Match Receipts By rule to indicate the document type that customers will use to match receipts with invoices during AutoLockbox validation (optional). Minimum and Maximum Charge Per Invoice: If the late charge amount that Receivables calculates for a past due debit item in this currency is outside the entered range, then Receivables assesses the entered minimum or maximum charge. Minimum Customer Balance: If the customer balance of past due items in this currency is less than the minimum amount that you specify here, then Receivables does not assess late charges. receivables ignores this option when the selected late charge calculation method is average daily balance. Minimum Invoice Balance:If the balance of a past due invoice in this currency is less than the minimum invoice amount that you specify here, then Receivables does not assess late charges on this item. Minimum Receipt Amount: Oracle Receivables does not generate automatic receipts in this currency that are less than this amount. You can also define a minimum receipt amount for a receipt method. Receivables will use the larger of the two minimum receipt amounts when creating automatic receipts. Minimum Statement Amount: The minimum outstanding balance in this currency that a customer must exceed in order for Receivables to generate a statement. For example, if you enter 100 in U.S. dollars, then Receivables does not generate a statement if the customer's outstanding balance is less than or equal to 100 USD. The default minimum statement amount is 0. Order Credit Limit: The maximum amount of an individual order. . If credit checking is active for this customer and they exceed this amount on a new order, all new orders for this customer are put on credit hold. . The limit per order must be less than or equal to the Credit Limit. You must enter a Credit Limit before entering an Order Credit Limit. Remainder Rule Set: Enter a Remainder Rule Set to specify how Post QuickCash applies any leftover receipt amounts created by a partial receipt application (optional). 9

Review Cycle: Select a review cycle period from the list of values. The periodic review cycle specifies how often to perform a credit review in Credit Management. For example, you can specify that the creditworthiness of an account is reviewed each month. Receipt Grace Days: Enter the number of Receipt Grace Days that you allow customers with this profile to be overdue on receipts before they will be assessed late charges. For example, if you enter 10, customers have 10 days beyond the transaction due date to pay before they incur late charges Send Credit Balance: To send statements to customers, even if they have a credit balance, select the Send Credit Balance check box.

Statements: To send statements to customers, select the Send Statement check box. Statement Cycle: If you select the Send Statement check box, enter a Statement Cycle. Statement cycles indicate how often to print your statements. Tax Printing: To indicate how to print tax on invoices for customers. Payment Terms: Enter the default payment terms for customers. The payment terms available for selection depend on whether you enabled balance forward billing. To enable the update of default payment terms when entering transactions for customers, check the Override Terms check box. To provide discount incentives for early payment to customers using this profile class, check the Allow Discount check box. If you allow discounts, enter the number of Discount Grace Days after the discount term date that customers using this profile class can take. If you do not allow discounts, Receivables skips this field. Tolerance: Enter the credit check tolerance (percentage over the credit limit). If a customer account exceeds this tolerance when credit checking is performed, then new orders for this account are put on hold.

Save & Close Window


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6.
(A)

Transaction workbench Transaction Type

Transactions, such as invoices, credit memos, receipts and adjustments, are entered against a customer account. Over time the customer's account evolves as new invoices are raised, credits and receipts are applied and adjustments are made. Paid invoices and their corresponding receipts are of no long-term interest in Receivables and disappear from the Aging Reports. However, each transaction will be posted to General Ledger and will have contributed to the receivables, revenue, tax, and cash balances.

Setup > Transaction > Transaction Type


Enter details as shown in below image.

Similarly create them for Debit Memo, Invoice, Deposit 11

(B)

Transaction Source

Batch sources control the standard transaction type assigned to a transaction and determine whether Receivables automatically numbers your transactions and transaction batches. Reference Field default value for a transaction is also specified in a transaction batch source. For imported transactions we need to specify Auto-Invoice, Customer Information, Accounting Information, Other Information and Sales Credit. You can define two types of transaction batch sources: Manual: Use manual batch sources with transactions that you enter manually in the Transactions and Transactions Summary windows, and for bills receivable transactions. Imported: Use imported batch sources to import transactions into Receivables using Auto-Invoice.

Setup > Transaction > Sources


Enter a unique Name and a Description for this transaction source. Enter a Type of Manual or Imported. For bills receivable batch sources, enter Manual. If this is a Manual source and you want to automatically number new batches you create using this source, or if this is a Manual source for bills receivable and you want to generate bills receivable automatically, check the Automatic Batch Numbering box and enter a Last Number. For example, to start numbering your batches with 1000, enter 999 in the Last Number field. If you are defining an Imported transaction batch source, Receivables automatically numbers the batch with the batch source name request ID.

To automatically number new transactions you create using this source, check the Automatic Transaction Numbering box and enter a Last Number. You can use automatic transaction numbering with both Imported and Manual sources. To use the same value for both the document number and the transaction number for transactions assigned to this source, check the Copy Document Number to Transaction Number box (optional). Enter the Standard Transaction Type for this batch source. When you choose a batch source during transaction entry, this is the default transaction type. You can define new transaction types in the Transaction Types window. 12

To number your credit memos created against invoices and commitments with this source differently than the invoices or commitments they are crediting, enter a Credit Memo Batch Source. Before you can assign a credit memo batch source, you must first define your credit memo batch sources using this window. If you do not specify a credit memo batch source, Receivables enters the invoice or commitment batch source here.

Save and Close and Similarly Define for Deposit, Debit, and other transaction types.

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7.

Standard Memo line

Standard memo lines are lines that you assign to a transaction when the item is not an inventory item (for example, Consulting Services). You can assign memo lines to debit memos, onaccount credits, debit memo reversals, chargebacks, commitments, and invoices. Receivables displays your standard memo lines as list of values choices during credit memo entry in the Credit Transactions window and during invoice entry in the Lines window. When you create chargebacks and debit

Setup > Transaction > Memo Line


Enter Details As Shown in Below Image

Save and Close the Window


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8.

Print Remit to address

Define remitto addresses to let your customers know where to send payment for their invoices. Receivables uses the addresses that you define in the Remit To Addresses window to provide default remitto information when you enter transactions.

Setup > Print > Remit to Address


Select the Appropriate Country Click on GO Select the appropriate address Click on Apply (Optional) Click on Create Remit to Address (Optional) Enter Details and Click on Apply

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9.

Customer Creation

Customers > Customers


Click on Create

Enter Details as shown in Above Image Scroll Down and Enter Address Scroll Down to Business Purposes and Click on Add Another Row Add Appropriate Rows and Click on Apply

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Query Recently Created Customer Account Click on Appropriate account Click on Details

Scroll Down and Click on Account Profile Select appropriate profile Click on Payment Details Scroll Down and Click on Create option of Bank Accounts Enter Appropriate Details as Shown in Below Image Click on Appy and Then Again Click on Apply Close the Window

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10.

Transaction Creation (A) Sales Invoice

Use the Transaction window to enter your invoices, debit memos, credit memos, and commitments. You can also query and update your transactions in this window and review your transactions and charge-backs in the Transactions Summary window.

Transactions > Transactions

Enter Details As Shown In Below Image Click on Line Items

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Click on Frieght

Enter the Details as shown in Above image i.e. Amount, GL Account Save and Close the Window Click on Complete

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Click on Tools Then on Create Accounting Select Create Final Accounting Click OK

Click on tools > View Accounting

Close Window
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(B) Credit Transaction


Use the Credit Transactions window to enter, update, and review credit memos against specific invoices, debit memos, or commitments. Create credit memos to reduce the balance due for a transaction. When credit a transaction, Receivables creates the appropriate accounting entries and reverses any sales credit assigned to salespeople.

Transactions > Credit Transactions

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Enter Details as shown in above Image Click on Credit Lines Enter Quantity only Negative as Amt is Being Decreased

Save and Close window Click on Complete

Close Window 22

(C) Debit memo transaction


Receivables handles debit memos the same as invoices, except that it sets the class of the payment schedule to DM instead of INV.

Transactions > Transactions


Enter Details In As shown in Below Image. Click on Line Items Enter value For unit Save and Close Window Click on Complete Close the Window

Note: Entered Value in Line Items is Negative as The Sign Activated for this Source is Negative foe this Example.

Save and Close Window

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(D) Deposit Memo Transaction


Deposit are advances which are received from customer to supply goods & services.

Transactions > Transactions

Click on Commitment

Enter Amount and Click on Complete and then Create account through Tools. Close The Window
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(E) Recurring invoice (Copy Transaction)


The Copy Transactions window lets you automatically create invoices for goods or services that you regularly provide to your customers. For example, you need to bill your customers for services or products provided once a month for two years, but do not want to manually create a new invoice every month. By creating invoice copies, you can quickly create a group of invoices that share the same characteristics.

Transaction > Copy Transaction

Press Ctrl + F11 to query the appropriate transaction to copy. Enter Appropriate Rule
Annually: This rule creates an invoice once a year on the same day and month of each year. For example, if your model invoice has an invoice date of January 1, 1991, then the invoice date of your first copied invoice is January 1, 1992. All subsequent invoice dates are calculated at oneyear intervals. Semiannually: This rule creates an invoice every six months on the same day. Quarterly: This rule creates an invoice every three months on the same day. For example, if your model invoice has an invoice date of January 1, 1991, then the invoice date of your first copied invoice is April 1, 1991. All subsequent invoice dates are calculated at threemonth intervals. 25

Monthly: This rule creates an invoice every month on the same day. For example, if your model invoice has an invoice date of January 1, 1991, then the invoice date of your first copied invoice is February 1, 1991. All subsequent invoice dates are calculated at onemonth intervals. Bimonthly: This rule creates an invoice every other month on the same day. For example, if your model invoice has an invoice date of January 1, 1991, then the invoice date of your first copied invoice is March 1, 1991. All subsequent invoice dates are calculated at twomonth intervals. Weekly: This rule creates an invoice every seven days. For example, if your model invoice has an invoice date of January 1, 1991, then your first copied invoice is January 8, 1991. All subsequent invoice dates are calculated at sevenday intervals. Single Copy: This rule creates one copy of your model invoice for the day you enter in the First Invoice Date field. Days: This rule creates an invoice based on the number of days you specify. For example, if your model invoice has an invoice date of January 1, 1991, and you enter 20 in the Number of Days field, the invoice date of your first copied invoice is January 21, 1991. All subsequent invoice dates are calculated at 20day intervals.

Enter the number of copies to create in the Number of Times field or in Number Of Days if selected rule days If the Post to GL flag of the model invoices transaction type is Yes, enter the First GL Date for the copied invoice. This date must be in an open, future, or never opened period. Save and Close the Window Finding Recurring Invoice:

Transaction > Transaction Summary


Follow the Steps shown In Below Image 1. 2. 3. 4. 5. Click on Find Enter Bill To Company Enter The Sources Enter The Transaction Types Click on Find

Transaction Summary will be done newly created transactions can be seen scrolling towards right.

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The Ones Not Tick Marked Complete are Newly created Transactions.

Close the Window


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(F) Foreign currency invoice transaction


When you create a transaction that is not in your functional currency, Receivables displays a popup window to let you enter exchange rate information. Receivables uses this information to convert your foreign currency receipt and transaction amounts to your functional currency.

Change Responsibility to GL to Enter the Daily Rates

Setup > Currencies > Rates > Daily


Enter the From Currency (Functional Currency) Enter To Currency (Foreign Currency) Enter Date From Which Currency will be Effective Enter Type (Corporate) Define Rates as Appropriate Save and Close Window

Change Responsibility to Receivables


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Enter Transaction:

Transactions > Transaction's

Enter foreign currency for which daily rates were difined. Enter other information as appropriate Click on Line Items

Enter Description and Quantity Unit Price Will be converted into foreign currency. Save, Click on Complete and Close window. 29

11.

Receipt Workbench (A) Receipt Classes

Define receipt classes to determine the required processing steps for receipts to which you assign payment methods with this class. These steps include confirmation, remittance, and reconciliation.

Setup > Receipt > Receipt class

Enter details as shown in above image. Click on Bank Accounts Enter Information As In Below Image. Save and Close Window, Define Other Classes similarly.

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Enter Details As shown in Above image Save and close


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(B) Receivables activities


Define receivables activities to default accounting information for certain activities, such as miscellaneous cash, discounts, late charges, adjustments, and receipt write-off applications.

Setup > Receipts > Receivable activities

Activity Types:
Adjustment: You use activities of this type in the Adjustments window. Bank Error: You use activities of this type in the Receipts window when entering miscellaneous receipts. You can use this type of activity to help reconcile bank statements using Oracle Cash Management. Earned Discount: You use activities of this type in the Adjustments and the Remittance Banks windows. Use this type of activity to adjust a transaction if payment is received within the discount period (determined by the transactions payment terms). Endorsements: The endorsement account is an offsetting account that records the endorsement of a bill receivable. This is typically defined with an Oracle Payables clearing account. Finance Charge: You use activities of this type in the Customers and System Options window. You must define a finance charge activity if you include finance charges on your statements or dunning letters. Miscellaneous Cash: You use activities of this type in the Receipts window when entering miscellaneous receipts. You must create at least one activity of this type. Receipt Writeoff: You use activities of this type in the Receipts Applications and the Create Receipt Writeoff windows. The receivable activity that you use determines which GL account is credited when you write off an unapplied receipt. 32

Short Term Debt: You use activities of this type in the GL Account tabbed region of the Remittance Banks window. The shortterm debt account records advances made to creditors by the bank when bills receivable are factored with recourse. Receivables assigns shortterm debt receivables activities to bills receivable remittance payment methods. Unearned Discount: You use activities of this type in the Adjustments and the Remittance Banks windows. Use this type of activity to adjust a transaction if payment is received after the discount period (determined by the transactions payment terms). Claim Investigation: You use activities of this type in the Receipts Applications and QuickCash windows when placing receipt overpayments, short payments, and invalid Lockbox transactions into claim investigation. The receivable activity that you use determines the accounting for these claim investigation applications. For use only with Oracle Trade Management. Credit Card Chargeback: Use activities of this type in the Receipts Applications window when recording credit card chargebacks. This activity includes information about the General Ledger clearing account used to clear the chargebacks. Receivables credits the clearing account when you apply a credit card chargeback, and then debits the account after generating the negative miscellaneous receipt. Credit Card Refund: You use activities of this type in the Receipts Applications window when processing refunds to customer credit card accounts. This activity includes information about the General Ledger clearing account used to clear credit card refunds. You must create at least one activity of this type to process credit card refunds. Payment Netting: You use activities of this type in the Applications window and in the QuickCash Multiple Application window when applying a receipt against other open receipts. Prepayments: Receivables uses activities of this type in the Applications window when creating prepayment receipts. When the Prepayment activity type is selected, the GL Account Source field defaults to Activity GL Account and you must enter a GL account in the Activity GL Account field. Refund: Use activities of this type in the Applications window to process automated non-credit card refunds. This activity includes information about the General Ledger clearing account used to clear refunds. Create at least one activity of this type. Only one activity can be active at a time.

GL Account Source:
Activity GL Account: Allocate the expense or revenue to the general ledger account that you specify for this Receivables Activity (see Step 7). If the activity type is Bank Error, Endorsement, Finance Charge, Receipt Write off, or Short Term Debt, you can only choose this GL account source. Distribution Set: Allocate the expense or revenue to the distribution set that you specify for this Receivables Activity . A distribution set is a predefined group of general ledger accounting codes that determine the accounts for miscellaneous receipts and payments. You can choose this option only if the activity type is Miscellaneous Cash. Revenue on Invoice: Allocate the expense or revenue net of any tax to the revenue account(s) specified on the invoice. If Tax Code Source is set to None, allocate the gross amount to these accounts. You can only choose this 33

option if the activity type is Adjustment, Earned Discount, or Unearned Discount. If the revenue on the specified invoice is unearned, then Receivables calls the Revenue Adjustment API, which uses AutoAccounting to derive the anticipated revenue accounting distribution accounts and amounts. The accounting engine then uses this information to allocate the adjustment or discount amount to these derived revenue account(s). Tax Code on Invoice: Allocate the net portion using the Expense/Revenue accounts specified by the tax code on the invoice. If Tax Code Source is set to None, allocate the gross amount to these accounts. You can only choose this option if the activity type is Adjustment, Earned Discount, or Unearned Discount.

Tax Rate Code Source:


Activity: Allocate the tax amount to the Asset or Liability tax accounts specified by the Receivables Activity. Invoice: Distribute the tax amount to the tax accounts specified by the tax code on the invoice. You cannot choose this option if the activity Type is Miscellaneous Cash or Finance Charges. None: Allocates the entire tax amount according to the GL Account Source you specified. Choose this option if you do not want to separately account for tax.

Enter the GL Account Save and Close Enter different Activities with Similar Process with appropriate options.

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Save & Close


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(C) Receipt Source


Define receipt batch sources to provide default values for the receipt class, payment method, and remittance bank account fields for receipts you add to a receipt batch.

Setup > Receipt > Receipt Source

Enter Details as shown in above image Save and Close the Window

(D) Distribution Set

Setup > Receipts > Distribution sets

Enter Details As shown in above image, Save and Close Window


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12.

Entering Receipt (A) Standard Receipt:

A receipt is a written acknowledgment that a specified article or sum of money has been received as an exchange for goods or services. The receipt acts as the title to the property obtained in the exchange.

Receipts > Receipts

Enter Details and Click on Apply Choose the Appropriate Trans Nbr Save and Close Window

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(B) Mass Apply:

Receipts > Receipts


Enter Receipts detail Click on Search & Apply after entering details rather than on apply Enter Details as shown in the images Distribute the Applied amt among different Trans Nbr

Save and Close Window


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(C) Miscellaneous Receipts:

Receipts > Receipts

Enter Details As Shown in Below Image Click on Distributions

Click on OK Create accounting Through Tools. 39

(D) Reversal Receipt


Receivables lets you reverse a receipt when your customer stops payment on a receipt or if a receipt comes from an account with nonsufficient funds. You can also reverse a receipt if you want to reenter and reapply it in Receivables. You can reverse both standard, invoicerelated receipts and noninvoice related (miscellaneous) receipts. You can reverse an Automatic Receipt only if its status is Approved. After you reverse a receipt, you cannot update any of the receipts attributes. Standard Reversal: Receivables automatically creates reversal journal entries for your general ledger and reopens all of the debit and credit items that were closed with the original receipt. Debit Memo Reversal: Receivables does not update any of the receipt activity associated with the original receipt. Query The Receipt in the Receipts Window Click on Reverse Enter Details Click on Reverse

Status Will be Changed to Reverse Close the Window

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(E)Charge-back
Use chargebacks to create a new debit item for your customer when closing an existing debit item. For example, your customer sends payment of $75 for a $100 invoice. You can apply the receipt to the invoice, then create a chargeback for the balance due.

Receipts > Receipts


A transaction should be made before entering Chargeback

Click on Apply Enter Details Then Click on Charge-back

Enter Details Save and Close. 41

(F)Adjustment (Bad debts):


Create adjustments to increase or decrease the balance due for an invoice, debit memo, chargeback, or commitment. For example, you apply a receipt to an invoice, but there is still an open balance of two dollars. You can create an adjustment to write off the remaining amount and close the debit item. Approval limits: Use the Approval Limits window to define approval limits for adjustments created in Receivables, requests for credit memos initiated from iReceivables, and writeoffs for receipts. Receivables uses approval limits that have a document type of Adjustment when you create an adjustment in the Adjustments, Submit AutoAdjustments, and Approve Adjustments windows.

Setup > Transactions > Approval limits

Receipts > Receipts


Enter Recipt Details Click on Apply Choose Trans NBR Click on Adjustment

Save and Close 42

(G)Writing Off Unapplied Receipts


When you apply a receipt to debit items, a small unapplied amount may remain on the receipt. Receivables lets you write off unapplied receipt balances during or after receipt application.

Setup > System > System Option


Click on Miscellaneous Navigate to the Receipts window. Enter the receipt information or query an existing receipt. Choose the Applications button. In the Apply To field, select Receipt Writeoff. In the Amount Applied field, enter the amount to be written off. Receivables validates the value that you enter against your writeoff approval limit. In the Activity field, select a receivables activity. You can select from all active receivables activities defined with the activity type of Receipt Writeoff. Save your work.

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13.

Bills Receivable

A bill receivable is a document that your customer formally agrees to pay at some future date (the maturity date). The bill receivable document effectively replaces, for the related amount, the open debt exchanged for the bill. Bills receivable are often remitted for collection and used to secure short term funding.

Bills Receivable > Transaction


Enter Details as shown in figure below

Click on Assignments Enter Details i.e. Trns Nbr Save and Click on Complete, then click on Accept Enter Acceptance Date and Click on Ok

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