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THURSDAY, AUGUST 4, 2011
Accounting For Oracle Receivables
Flow of Accounting Information:

- If you are using Oracle Order Entry (without customizations), no accounting information is available until you run AutoInvoice. You pass the transactions to Oracle Receivab
using the Receivables Interface. You then run AutoInvoice which creates the actual transactions and uses AutoAccounting to derive the segment values for the GL Accounts
you are using Oracle Projects the account segment values are derived by a Projects’ process also called AutoAccounting and passed as values to Oracle Receivables via t
Streamline process, also using AutoInvoice.
- Whether you are manually entering your receipts or processing them through AutoLockbox, the accounting information is automatically determined by Oracle Receivab
when you create and apply the receipts (not when it is still a "QuickCash" batch). The values used are based on the setup values for the bank where the receipts we
deposited and the invoices they are paying.
General Ledger Interface:

- You pass accounting information from Oracle Receivables to Oracle General Ledger using the General Ledger Interface. If you have properly set up Oracle Receivables, y
should never have to create manual journal entries in your General Ledger and the two systems should always be in sync.
- When you invoke the General Ledger Interface process, you initiate multiple programs that:
Finds all of the records for the period you specified that have not yet been passed to the General Ledger;
1. Determines if the debits equal the credits;
2. Passes the data to GL for editing; and
3. Marks the records as having been passed (so they will not pass twice).
- If you have specified that you want the Journal Import to also run, this process verifies that the individual segments and combinations of segments are valid. Only when t
Journal Import completes successfully are the Journals available for posting.
Tips:
1. Always run the General Ledger Interface using the starting date of the period through the last day of the period. This is applicable no matter when you are running t
process or if you know you will never have activity for that date, since sometimes the system uses dates other than the dates you expect.
2. Depending on which patches you have applied, you may or may not see the Unposted Items Report. If this report does run, always check each page to ensure that you ha
no items that could not be passed to the General Ledger. If anything besides headings appears, work with your IT department to resolve (since this is usually caused by a bug
Verify that the amounts in the General Ledger Interface Report are reasonable and that the debits equal the credits.
3. Verify that the Journal Import has a status of "SUCCESS." If not, you had a problem that will need to be resolved or none of the items in the batch will be available
posting. Generally you have a problem if an account was valid when the activity was created, as you know, you cannot save with invalid values but, someone has since disab
either a segment or the combination. An example of this is your Accounts Receivable account that may have been valid when the invoice was originally created but it is n
longer valid, and a receipt was just applied against it. When you apply a receipt to an invoice it always causes an offsetting entry against the original Accounts Receiva
account.
Should this occur, then
1. Re-enable the segment or combination;
2. Re-run the Journal Import (in GL -- be sure to include the applicable id);
3. Create a manual journal entry (also in GL) to move the activity from the bad account to the proper account (this is my one exception to never creating manual jour
entries); and
4. Re-disable the segment or combination.
By making the corrections in this way you are able to keep your GL in sync with your AR activity and you have an audit trial of what you did to make the correction. You ha
the option to correct in the Import Corrections form (in GL), but you lose the audit trail of what you did and why. Note what you did and why and storing the notes in a han
binder so you will be prepared when the auditors ask why you did what you did.
Journal Entries Reports: The Journal Entries reports are the best way to verify the actual accounting for Oracle Receivables’ activities and the only way to view t
accounting for the foreign currency gains and losses. There are actually four reports that give you varying levels of details regarding the journal entries you will be creating
have already created. These reports may be run at anytime before or after you run the General Ledger Interface. Your options are: Detail by Account (very large), Summary
Account, Detail by Category (also large) and Summary by Category.
Tip: Run the Summary by Category and review to insure that there are no invalid or illogical accounts, prior to running the General Ledger Interface. If you find fun
accounts, you can correct or create offsetting entries prior to posting. Run the Detail by Category (just for that category and account) to see which specific activities used t
funny account. Correct the activity if possible. If not possible (i.e., adjustment), create an offsetting entry using the proper account.
Tip: If you run this report for Unposted Items only, you must leave the Posted Date range blank or nothing will appear on the report.
Period Close Procedures:

Tip:Never have more than one AR period open at one time. There have been problems with entries appearing partially in one period and partially in another. Also, you m
accidentally enter activities in a period other than the period you intended.
Create a checklist to insure that you always know where you are and what you have to do next, so you will not forget anything.
Balance your AR activity to the Aging:
Old Aging Balance -----(Aged Trial Balance - 7 Buckets by Account)

________________________________________________
+ New Invoices -------Transaction Register
+ Debit Memos ------- Transaction Register
+ Chargebacks --------Transaction Register
- Credit Memos ------ Transaction Register
- Receipts Applied ---- Unapplied Receipts Register
+/- Adjustments ------Adjustment Register
- Items Not Aged ----- Invoice Exceptions Report
____________________________________
New Aging Balance --- Aged Trial Balance - 7 Buckets by Account
Also balance your AR activity to your GL activity using the Journal Entries Report - Summary by Category and the Account Analysis report (in GL). Note any manual jour
entries that used "your" accounts.
https://oracleapps88.blogspot.com/search?q=credit+memo+over+view+in+accounts+receivable 1/32
Accounting Details
The GL Accounts may or may not appear on the form (depending on what you are doing) but almost every activity you perform has an accounting impact. In order
understand this impact it is necessary to know:
1) what accounts are impacted by each transaction;
2) what are the related set ups;
3) what you may change and/or override and what is out of your control.
AutoAccounting : AutoAccounting a very powerful setup feature that tells Oracle Receivables how to determine the individual segment values for your Transactions (invoic
debit memos, credit memos, chargebacks and commitments) using the rules that you specify. You may use this feature when creating Transactions manually or throu
AutoInvoice. The types of accounts impacted by AutoAccounting include:
- (Accounts) Receivable
- Revenue
- Tax
- Freight
- Unearned Revenue (for deferred revenue recognition)
- Unbilled Receivable (for deferred receivables recognition)
- AutoInvoice Clearing (for problems with extended amount)
- Possible sources of this information are the values you set up for the following:
- Transaction Types
- Salesreps
- Standard Lines (Items or Memo Lines)
- Taxes
- And/or hard coded values.
You may get one segment value for one type of account from a different place than for another. See Appendix 1 for an example of a typical AutoAccounting setup.
You can use a similar worksheet to test the setup of your AutoAccounting rules. List your Accounting Flexfield segments in the left column. For each type of account select t
source of each segment (based on the list of available sources) and fill in that box. Test your theory by listing what all the setup accounts would be for a Transaction Typ
Salesrep, Item, Tax and Memo Line. Then use a white-board and fill in each segment, for each type of account, with the values from each of the related sources. Verify t
the combinations are actually valid, if not, redesign how they will be set up or redefine your AutoAccounting rules. Once you are satisfied with the results, enter yo
AutoAccounting rules into your test system and start creating manual invoices. Verify that you have not created invalid account values as the defaults.
Tip: I prefer to assign all segments to sources versus using hard coded values. This seems more flexible for future changes.
Invoices: When you create an invoice either through AutoInvoice or manually, you take advantage of AutoAccounting to provide the default Accounting Flexfield values. F
manual invoices you have the option to override the default values.
For a standard Invoice:
DR : AR (AutoAccounting - may override)
CR : Revenue (AutoAccounting - may override)
:Tax (AutoAccounting - may override)
:Freight (AutoAccounting - may override)
You may also create invoices with special accounting and invoicing rules that allow you to defer revenue recognition for the percentage and number of periods that you spec
The following is an example of an invoice created with deferred revenue recognition for $12,000 split evenly over 12 periods:
For invoices with deferred revenue: a) When first created:

DR : AR (AutoAccounting - may override) 12000
CR :Unearned Revenue (AutoAccounting) 1000
DR : Unearned Revenue (AutoAccounting) 12000
CR : Revenue (AutoAccounting - may override) 1000
b) For each of the next 11 periods:

DR : Unearned Revenue (AutoAccounting) 1000
CR : Revenue (AutoAccounting) 1000
If you are using deferred revenue recognition, you need to run the revenue recognition process for each period (Run Revenue Recognition) and runs automatically as part of t
General Ledger Interface.
Tip: To reduce the time it takes to close the period, run Revenue Recognition prior to the time when you are actually closing (e.g., the night before the close). This w
process the majority of the updates prior to the actual close.
Recurring Invoices (Transaction Copy) are treated like regular invoices, except they have different GL dates. Once you have created an invoice copy, it really is just anot
invoice with different dates.
Debit Memos: Debit memos work just like standard invoices (you even create them on the same forms) -- taking advantage of AutoAccounting but with overridable segments
you defined Memo Lines for use with your debit memos, they will provide the default accounting segments if you have set up AutoAccounting to use Standard Lines values
your Revenue accounts.
Credit Memos And On Account Credits: There are two types of credit memos: credit memos that you create to offset an individual invoice are called "Credit Memos." Cre
memos that impact a customer’s account but are not initially tied to a specific invoice are called "On-Account Credits." On-account credits may be tied to invoice(s) using t
Receipts Applications window, at any time. The accounting for Credit Memos usually offsets the applicable accounts from the original invoice (if you set your System Prof
option AR: Use Invoice Account For Credit Memo to "Yes"). Credit memos and on-account credits that are created using AutoInvoice take advantage of AutoAccounting and
hard coded values. You may override the default values if you are entering manually.
Credit Memo tied to an invoice:

DR : Revenue (from the related invoice - may override)
: AR (from the related invoice - may override)
: Tax (from the related invoice - may override)
CR : Freight (from the related invoice - may override)
On-account credits take advantage of AutoAccounting and Standard Lines (Memo Lines) depending on how you set up your AutoAccounting rules for the default credit a
debit GL Accounts. You may override the default values at entry time if you are entering manually.
DR : Revenue (Memo Line - may override)

CR : AR (AutoAccounting - may override)
When you apply an on-account credit to invoice(s), you debit the credit account you used when you created the on-account credit. The Accounts Receivable account for t
invoice being offset is credited. You may not override these values.
DR : AR (from the On-Account Credit)
CR : AR (from the invoice)
Cash Receipts (Excluding Miscellaneous Receipts): The accounting for receipts, except for Miscellaneous Receipts, is totally controlled behind the scenes by Ora
Receivables. The GL Accounts are determined by the values you defined in Receipt Class for the batch.
NOTE: You have one Cash, Unapplied, On-Account, Unidentified, Earned Discount and Unearned Discount account for each bank and class, which does not allow you to split t
Unapplied, etc. accounts for the applicable cost center or division.
You may set up different values for each bank and class that you use (especially important for the cash account). Or, you may share the GL Accounts for multiple bank accou
(i.e., the unapplied and discount accounts). The key accounts are:
- Your cash account (the default debit account for that bank account);
Tip: Often AP and AR share the same bank account but it is helpful to use a different but sequential GL account for each. This eases the reconciliation but you can roll toget
for FSG reporting.
- Your unapplied payments account (the default used until you match the payment to an invoice);
- Your on-account account (used to account for pre-payments until you apply them to invoice(s));
- Your unidentified account (used for receipts where you do not know which customer sent the receipt);
Tip: Often companies use the same GL Account for unapplied, on-account and unidentified. This is fine as long as: the account is not used for anything else and it is not
Accounts Receivable or cash account.
- Your earned and unearned discount accounts (used when a client pays invoices in accordance with the early payment terms. These are also often the same. Earned discou
are for payments made within the discount terms, unearned discounts are paid after the discount term but are allowed anyway.
When you match a receipt to an invoice, the cash account (debit) defaults from the Receipt Class for the Receipt batch. The Accounts Receivable account (credit) defau
from the invoice that is being paid.
NOTE: Even if you instantly match a payment to an open invoice, Oracle still creates credits and debits to the unapplied account.
Payment applied to an invoice without discount terms:

DR : Cash (Receipt Class)
: Unapplied (Receipt Class)
CR : Unapplied (Receipt Class)
: AR (from the invoice)
Payment applied to an invoice with discount terms:

: Discount (Receipt Class)
When you leave a receipt as unapplied:

When you identify a receipt is as a pre-payment or deposit:

CR : On-Account (Receipt Class)
For unidentified receipts:

CR : Unidentified (Receipt Class)
When you apply unapplied, on-account or unidentified receipts, the accounting is determined by the original status. The accounts used are based on the accounts y
currently are using for the Receipt Class. The Accounts Receivable account still comes from the invoice.
DR : Unapplied (Receipt Class)
On-Account (Receipt Class)
or Unidentified (Receipt Class)
When you unapply a receipt, the accounting is just the opposite of the application accounting. You debit the AR account for the original invoice and credit the unappl
account based on the current unapplied account for the Receipt Class:
DR : AR (from the invoice)
When you reverse a receipt, you have two possible options: re-open the invoices you previously paid or create a debit memo for the amount of the reversed payment. If y
re-open the invoices, the system offsets the accounts used when you originally applied the payment (from the invoice and the cash account). Note that this process a
impacts the unapplied account.

CR : Cash (Receipt Class)
If you create a debit memo, you credit the original cash account but debit the Accounts Receivable Account for the Debit Memo type you selected. You may override t
Accounts Receivable account when you enter the payment reversal.
DR : AR (Transaction Type - may override)
CR : Cash (Receipt Class)
Chargebacks: You create Chargebacks when you are applying cash to close the original invoice and create a new invoice for the amount that the customer short paid.
definition, there is a one to one relationship between a Chargeback and the original invoice. You need to set up values for Chargebacks in 3 places: Receivables Activity whe
you specify the "wash" account used when creating a Chargeback. Transaction Types where you specify the default AR account. A Memo Line ("Chargeback Line") is seeded
Oracle but it is just used for the line description when you print the Chargeback and has no accounting impact. The Accounts Receivable account for the new invoice is bas
on the Accounts Receivable account for the Chargeback but you may override it at entry item. Oracle credits the Accounts Receivable account for the original invoice (no
that these two accounts may be different).
In the Category of Adjustment:

DR : Chargeback Adjustment (Receivables Activity)
CR :
In the Category of Adjustment (AR):

DR :
CR : AR (from the original invoice)
In the Category of Chargeback:

DR :
CR : Chargeback Adjustment (Receivables Activity)
In the Category of Chargeback (AR):

DR : AR (from the chargeback - you may override)
CR :
In the Category of Trade Receipts:

CR :
In the Category of Trade Receipts (AR):

CR : AR (from the original invoice)
Miscellaneous Receipts: Miscellaneous Receipts are any receipts that are not for open receivables. Examples include Cobra payments, T-shirt sales, utility refunds, and retu
on investments. Due to the nature of this activity, you may need to credit any account within the chart of accounts. The Distribution Window in the Receipts form allows you
do just that. You may run into an Account Security Rule set up to restrict usage of accounts by application. If you find that you may not use an account that you need, wo
with your System Administrator to change the Account Security Rules.
You may pre-define the credit accounts that you usually use to speed entry (using Receivables Activity) but you also have the flexibility to override the values at entry tim
You also have the ability to split a single receipt into multiple accounts (you may also pre-define those accounts using Distribution Sets).
If you will always be splitting the accounts, you should define a Distribution Set. A distribution set is a name and one or more GL Accounts and percentages that you define. Y
must create a Receivable Activity that refers to the Distribution Set.
When you enter Miscellaneous Receipts, you refer to the Receivables Activities that you defined above. However, you may override the default GL Accounts, the individ
segments, the percentages and/or the amounts. The cash account used defaults based on the Receipt Class for the bank you specified on the Batch Screen, and you may n
override or view the value.

CR : Miscellaneous Account(s) (Receivables Activity or Distribution Set - may override)
Receivable Adjustments: Receivable Adjustments are generally write-offs, or changes to the invoice balance due for over- or under-payment by the customer, or the addit
of finance charges. Pre-define commonly used adjustment types using the Receivables Activity form. This speeds entry, but you may override the default values as you en
the adjustments. NOTE: Always define a GL Account and not a Distribution Set when you define Receivable Activities for adjustments.
Tip: When entering an adjustment, never use an Accounts Receivable Account. Oracle Receivables already automatically offsets the AR account for the invoice being adjust
and you will create a wash entry.
A Receivables Adjustment is always applied to a specific invoice so it impacts the Accounts Receivable account for that invoice. Receivables adjustments may either be posit
(debit AR, and increase the invoice balance) or negative (credit AR and decrease the invoice balance). Examples include:
Add a finance charge (note that this is a positive adjustment that increases the balance due):
DR : AR (from the invoice)
CR : Finance Charges (Receivables Activity - may override)
Reduce the freight amount:

DR : Freight (Receivables Activity - may override)
Write-off the invoice balance:

DR : Cost of Doing Business (Receivables Activity - may override)
You may use AutoAdjustments to perform mass cleanup of open invoices and on-account credits. The Accounts Receivable account credited is the Accounts Receivable accou
for the transaction. The account debited is based on the Receivables Activity you select when you submit the AutoAdjustment process. Note that ALL adjustments made dur
this process will use that exact same "write off" account even if the original invoices are for different companies, or cost centers. This may be a consideration in determining
you can actually utilize AutoAdjustments, or if you want to run multiple passes of AutoAdjustment by Transaction Type and Adjustment Activity.
Foreign Currency Gains and Losses: Transactions that are not in your base currency may cause gains or losses to occur due to fluctuations in the exchange rates. This
automatically accounted for by Oracle Receivables. When you enter the Transaction, the applicable exchange rate for the date you enter it is stored with the transactio
When you enter the related receipt the applicable exchange rate for the date you enter the receipt is stored with the receipt. The gain or loss is determined based on t
difference in the value of the money (in your base currency) between when the invoice was created and when the receipt was created. The gain and loss accounts are deriv
based on the values in your System Options and how you set up Flexbuilder. Note that most companies use the default setup for Flexbuilder. Note that there is no gain or los
you apply an adjustment since both the adjustment and the invoice use the same rate. You can predict Gains and Losses using the Projected Gains/Losses Report. You can o
view the gain/loss accounting activity by running the Journal Entries Report.
Gain - now worth more:

DR : Cash (Receipt Class at the receipt rate)
: Unapplied (Receipt Class at the receipt rate)
CR : AR (from the invoice at the invoice rate)
: Gain (System Options - difference between the invoice and receipt values)
Loss - now worth less:

DR : Cash (Receipt Class at the receipt rate)
: Loss (System Options - difference between the invoice and receipt values)
CR : AR (from the invoice at the invoice rate)
:Unapplied (Receipt Class at the receipt rate)
Mandatory setups in Accounts Receivables:
1. Defining the customer
2. Define customer bank
3. Payment terms
4. Defining the dunning letters
5. Defining the statements
6. Defining auto cash rule set
7. Customer profiles
8. Defining collector
9. Defining the sales person
10. Auto Lockbox
The key flexfields of AR are:
Sales tax location flex field
Territory key flex field. (Its segments are city, state, country)
The works under AR are classified into 4 workbenches
1. Transaction work bench
These deals with the transactions such as invoices, collections, receipts etc.
2. Receipts work bench
This tracks the receipts received from the customer manually or automatically. The customer requires a bank to pay the cheques and the supplier requires an inter
bank account.
3. Bills receivable work bench
4. Collection workbench.
Payment terms:
Payment terms determine the payment schedule and discount information for customer invoices, debit memo and deposits.
These specify the due date and discount date for the items of the customers. Payment terms include discount percent for early payment and we can assign multi
discounts to each payment term.
Distribution sets:
These sets are used when we enter miscellaneous cash receipts that have frequently used revenue accounts. Here invoice amount is distributed to various reven
accounts.
Auto cash rule set:
The rules that we set how to adjust the amount that we receive from an old customer.
Dunning letters
The notes that we send to the customer to do his payments are called as Dunning letters.
Statement cycles:
These are legal documents just like invoices. Any transactions that we are raising a customer are going to be printed on a paper. These are called as the stateme
cycles.
Transactions:
Invoice transaction
Deposit transaction
Debit memo transaction
Credit memo Transaction
Charge back transaction
Guarantee Transaction
Invoice Transaction:
Deposit Transaction:
A supplier asks a customer to deposit some amount as surety. When he pays it then the deposit transaction will be raised. The advance amount paid is called as t
deposit amount.
Guarantee Transaction:
When a third party is giving guarantee to a customer then it is called as guarantee transaction. The third party gives assurance of the amount whenever the custom
fails to pay his credit then we raise the guarantee transaction.
Debit memo transaction:
A substitute for an invoice is the debit memo transaction. Suppose we have raised a transaction for 10000 instead of 15000. Instead of canceling it we raise a de
memo of 5000 and the balance becomes 15000.
Credit memo transaction:

When the customer is not liable to pay the amount, which is included in the invoice, then he will send a note of credit memo. Then the supplier raises a credit me
transaction to that.
Charge back Transaction:
It is raised to cancel the due amount in the customer account in order to raise a new invoice along with the interest with the new credit period on request of customer.
Sales tax:
In a sales tax based system, receivables calculates the tax based on the address components of out sales tax structure (for ex state.country.city)
Hierarchy of tax calculation:
Customer site level
Header
Location
Item
Transferring the amount AR to GL
Posted by Raju Chinthapatla at 6:09:00 PM 0 comments
Labels: AR
SATURDAY, DECEMBER 5, 2015
Oracle Account Receivable (AR) Functional Training Guide
Overview
Brief the module overview including oracle standard flow and its applicability in EBS suite. Overview should be in details mentioning the all functionality provided by oracle
and its shared entities as well as its integration with other modules.
Entering Transactions:
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 in the Transactions Summary window.
The procedure for entering invoice is shown below.
Enter Invoice or Debit Memo:

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 chargeback in the Transactions Summary window. When you enter an invoice, Receivables uses the A/C Code defined in the Transaction Type or Auto
Accounting rules to determine the default General ledger accounts. You can enter transactions one at a time or in a group called a batch. Your system administrator determines
whether you can delete a transaction. However you can override these accounts which are by default populated through this account generator.
Navigation : Transaction (N) ->Transactions
Step# 1: Transaction Batch Sources

Batch sources control the standard transaction type assigned to a transaction and determine whether Receivables automatically numbers your transactions and transaction
batches. Active transaction batch sources appear as list of values choices in the Transactions, Transactions Summary, and Credit Transactions windows, and for bills receivable
the Bills Receivable and Bills Receivable Transaction Batches windows.
Step# 2: If your batch source does not specify Automatic Invoice Numbering, enter a transaction Number. Otherwise, Receivables assigns a number when you save. If you are
adding transactions to a batch, the transaction number must be unique within this batch.
Step# 3: Enter the Date and Currency of this transaction. The default date is either the batch date or, if there is no batch information, the current date. The default currency is
either the currency entered at the batch level or your functional currency, but you can change it to any currency defined in the system. If the currency is different from your
functional currency, and you have not defined daily conversion rates, enter exchange rate information.
Step# 4: Choose a class of Invoice or Debit Memo
Step# 5: Choose a transaction Type with a class of Invoice or Debit Memo
Step# 6: Select Customer "Bill to Site" name and location for this transaction from list of value.
Step# 7: Enter the payment Terms for this transaction. Receivable calculates the Due Date based on the payment terms and date of this transaction
Receivables use the following hierarchy to determine the default payment terms, stopping when one is found:
· Customer Bill-To site level
· Customer address level
· Customer level
· Transaction Type
Step# 8: Enter any special instruction or comments (Optional)
Step# 9: If you are using manual sequence numbering, open the More tabbed region, then enter a unique Document Number. Otherwise, Receivables assigns a document numb
when you save.
Step# 10: Open the Remit To tabbed region, and then enter the Remit To Address for this transaction. The default is the remit-to address assigned to the country, state, and post
code combination for this customer's address.
Step# 12: To enter Freight information for this transaction, choose Freight
Step# 13: To enter the goods or services to bill to this customer, choose Line Items, and then enter the Item, Quantity, and Unit Price for each item. Receivables automatically
calculates the total Amount for each line
Step# 14: Select the tax code form list of value mentioned in the field tax classification.
Step# 15: Accounting Entries

Once the transaction in completed the invoice can be sent to the customer for collection. The system will generate the following accounting entries. For example you have
invoiced the customer for Rs 69.93/- for one-year period.
-->Receivable Dr 69.93
-->Revenue Cr 49.95
-->Revenue Cr 19.98
To review or update accounting information, choose "Distributions".
Step# 16: Save your work. If you are ready to complete this transaction then press "Complete" button to change the transaction status to "Complete" and make it available for
inquiry, receipt application and other uses.
Entering Credit Memo

Stand-alone credit notes can be issued to the customer for recording returns, write off or any other business reason. The procedure is as explained below.
Use the Transaction window to enter credit memos. You can also query and update your transactions in this window and review your transactions.
Navigation : Transaction (N) ->Transaction
Navigate to the Transactions window.

Step# 1: Enter the Date and Currency of this transaction.
Step# 2: Enter the transaction batch Source for this transaction. The default is the source you entered at the batch level. If there is no batch information, you must enter a source
The transaction batch source specifies automatic or manual batch and invoice numbering and the standard transaction type.
Step# 3: Choose a transaction Type with a class of Credit Memo (optional).
Step# 4: Choose Bill to Customer Site of the relevant customer.
Step# 5: Press the "Line Items" button
Step# 6: Enter line items; always enter the amount with negative sign.
Enter the Credit Memo by Using the Credit Transactions Window

To speed up the data entry process use the Credit Transactions window to enter, update, and review credit memos against specific invoices. You create credit memos to reduce
balance due for a transaction. When you credit a transaction, Receivables creates the appropriate accounting entries.
Navigation : Transaction (N) -> Credit Transaction
Note:Receivable lets you credit an entire invoice or specific invoice lines.
To create a Credit Memo against a transaction the following steps need to be followed.
Step# 1: Navigate to the Transactions Summary or Credit Transactions window.

Receivables > Credit Transaction or Transaction Summary Window
Step# 2: If you are in the Transactions Summary window, query the transaction to credit, then choose Credit.
Step# 3: If you chose Credit Transactions from the Navigator, enter the 'Transaction Number" to credit in the Find Transactions window. If you do not know the transaction
number, enter selection criteria such as Class, Transaction Date, and Currency to limit your search.
Step# 4: Enter the Date of this credit memo. Receivables prints this date on your credit memo.
Step# 5: Enter a transaction Type for this credit memo.
Step# 6: Enter the GL Date for this credit memo. This date must be in an open or future enterable accounting period and must be equal to or later than the GL date of the Origin
transaction.
Step# 7: Enter the Currency for this credit memo.
Step# 8: If you are not using Automatic Sequence Numbering, open the More tabbed region, then enter a unique Document Number for this credit memo.
Step# 9: To credit only part of the balance due for this transaction, enter the percentage or Amount of Line, Tax, or Freight charges to credit. To credit a specific portion of the
charges, enter a negative number in the Amount field (for example, enter -50 to decrease the balance due by 50 dollars). If you enter a percentage, Receivables calculates the
amount, and vice versa.
Step# 10: To credit the entire balance due for this transaction, choose Credit Balance. Receivable reduces the Balance Due for this transaction to zero for each type of charges.
Step# 11: Choose Credit Lines.
Step# 12: Select the transaction line to credit from the list of values and enter "Amount".
Step# 13: Save your work. Receivable creates all the accounting reversal entries and reverses the amount of sales revenue.
Step# 14: If you are ready to complete this credit memo press the button Complete.
Credit Balance
Oracle Receivables gives you this liberty to credit the entire balance of an invoice to Zero
Navigation : Transaction (N) -> Credit Transaction

Step#1: Query the Transaction that is you want to fully credit
Step#2: On pressing the button (Credit Balance) credit transaction system will gives you this prompt message
Step#3: On pressing the button "ok" you will find balance to "Zero"
Copy Transaction
Query your respective transaction by following the following navigation
Navigation : Transaction (N) -> Copy Transaction

And after pressing torch button on the transaction window following window will appear
Press the Find

Press the button "Copy to"
Enter the rule, number of days and number of times you want to create invoices on pressing the Tab button system automatically populated the invoice related information
On pressing the button save system will generate the concurrent request mentioned in the Request ID
Entering Deposit/Guarantee
Navigation : Transaction (N) -> Transaction
Step#1: Enter the source
Step#2: Enter the class "Deposit"
Step#3: Enter the transaction type.
Step#4: Move towards the "Tab" Commitment and enter the details like Effective date, amount and description.
Step#5: After entering all details Press the button complete.
Apply Deposits
Navigation : Transaction (N) -> Transaction
Step#1: Query the invoice on which you want to apply deposit
Step#2: Go to Action button and click on Apply Deposit
Step#3: On clicking the button apply deposit another window will open
Step#4: Choose the deposit, Apply date and GL date

Step#5: Press the button "Complete"
Receipts:
Use the Receipts window to enter new or query existing receipts. You can enter two types of receipts in Receivables:
Standard receipts: Payment (such as cash or a check) that you receive from your customers for goods or services. Also known as cash receipts.
Miscellaneous receipts: Revenue earned from investments, interest, refunds, stock sales, and other nonstandard items.
You can enter receipts and apply them to transactions in either Open or Future accounting periods. You can partially or fully apply a receipt to a single debit item or to several
debit items.
Navigation : Receipt (N) -> Receipt
Press on button Apply

Choose values from Apply to
And press the button Save
Viewing the Receipt History:

Use the Receipt History window to view additional details about your saved receipts. This window displays a history of the receipt's statuses, as well as exchange rate
adjustments. You can also view all application notes that were made to this receipt. This window also includes Oracle Cash Management-related information.
From the Receipts window, click Receipt History
Receipt Status
A receipt can have one of the following statuses:
Approved: This receipt has been approved for automatic receipt creation. This status is only valid for automatic receipts.
Confirmed: For manually entered receipts, this status indicates the receipt belongs to a receipt class that requires remittance.
Remitted: This receipt has been remitted.
Cleared: The payment of this receipt was transferred to your bank account and the bank statement has been reconciled within Receivables.
Reversed: This receipt has been reversed. You can reverse a receipt when your customer stops payment on a receipt, if a receipt comes from an account with non-sufficient fun
or if you want to re-enter and reapply it in Receivables.
Miscellaneous Receipts
Navigate to the Receipts or Receipts Summary window
Step# 1: Enter a payment method. Receivables use the payment method to determine the accounting and remittance bank accounts for this receipt.
Step# 2: Enter the receipt information regarding receipt number
Step# 3: Enter the receipt information regarding receipt currency. You can enter transactions in any currency defined in Oracle Receivables if you have at least one remittance
bank account with a Receipts Multi-Currency flag set to Yes. If no such bank account exists, you are limited to entering only those currencies in which bank accounts exist.
Step# 4: Enter the receipt information regarding receipt amount
Step# 5: Enter the receipt information regarding receipt GL date, and receipt date. The default GL date is the same as the batch GL date. If there is no batch information, the GL
date is the same as the receipt date. The default receipt date is the current date, but you can change it. If the Receipt date is not in an open period, Receivables changes the GL
date to the last date of the most recent open period. You can change the GL date, but it must be in an open or future period. If this receipt is part of a batch and you change the
receipt date, Receivables does not automatically modify the GL date. Choose a receipt type of Standard. But here we are using miscealleous receipt and choose the activity.
Step# 6: Press the button "Save"
Customer Overview
Use the Customers set of pages to manage customer information in Oracle Receivables. You create customers so that you can properly record and account for sales transactions
as well as all other attributes of your selling relationships. Recording a sales transaction requires that a customer has been created as a party in Oracle Trading
Community Architecture has an account as well as an account site. Consequently, to understand the role of a customer in the context of your trading community, you should als
understand other concepts such as party, customer account, and account site.
· Party: An entity that can enter into a business relationship, such as buying and selling, and can be of the type Organization or Person. A party exists separately from any
business relationship that it enters into with another party.
· Customer: A party, either an organization or person, with whom you have a selling relationship.
Navigation : Customer(N) -> Customer
· Customer Account: A customer account represents the attributes of the business relationship that a party can enter into with another party. The account has information about
the terms and conditions of doing business with the party. You can create multiple customer accounts for a party, to maintain information about different categories of business
activities.
· Sites/Addresses:
§ A location is a point in space described by an address.
§ A party site is the location where a party is physically located. Every party has only one identifying address, but a party can have multiple party sites.
§ An account site is a party site that is used in the context of an account. An account can have multiple account sites.
§ A customer address is an account site that is used for billing, shipping, or other purposes.
· Contact: A person who communicates for or acts on behalf of a party or customer account. A contact can exist for a customer at the account or address level. A person usually
acts as a contact for an organization, but can also be a contact for another person. For example, an administrative assistant could be the contact for an executive.
Creating a Customer
This procedure lets you create, a new customer, an account for the customer, an account site for the account, a business purpose for the account site
For creating a new customer navigate to the Create Customer page. The Create Customer page displays differently, depending upon your customer type selection, Organization
Person, on the Customer Search page.
Step# 1: Enter Customer name, account number, and account site address. All other details are optional depending on the business requirements at your enterprise.
Step# 2: Click Save and Add Details to go to the Account Overview page to add further account details, such as account sites, profile, payment, and communication details. Ad
business purpose to the account sites like "Bill to", Ship to" etc.
Step# 3: Click Apply to go to the Customer Overview page to add further customer details, such as accounts, profile, communication, party relationship, and tax profile.
Customer Inquiry
Receivable lets you view detailed or summary information about your invoices, credit memos, debit memos, and commitments that do not have or have outstanding balances
relating to any customer.
Use the Account Details window to view the status, due date, number of days late, dispute amount, and the balance due for a specific transaction. You can open this window fro
the Navigator or by choosing Account Details from the Customer Accounts or Aging window. You can view more detailed information about a transaction by choosing the
Details button.
Navigation : Account Detail (N)
The Account Details window does not display receipts, credit memos, on-account credits, adjustments, and debit items that have a transaction type with Open Receivables set t
No. Transactions assigned to a transaction type with Open Receivables set to No do not update your customer balances and therefore are not included in the standard aging and
collection process.
Inquiry detailed information of specific transaction:

Step# 1: Navigate to the Account Details window.
Step# 2: To limit your query, enter selection criteria in the Find Account Details window. For example, enter a Transaction Number, a range of Due Dates, a Bill-To Customer
Name, transaction Class, Status, or low and high values of Balances Due to select only those transactions. Leave a field blank if you do not want to limit your query to
transactions matching those criteria.
Step# 3: Choose find.
Step# 4: Select the transaction to view, and then choose "Transaction Overview". If you are viewing a Receipt, choose Account Details.
To view open activities against a transaction:

Step# 1: Navigate to the Account Details window.
Step# 2: To limit your query, enter selection criteria in the Find Account Details window. For example, enter a Transaction Number, a range of Due Dates, a Bill-To Customer
Name, transaction Class, Status, or low and high values of Balances Due to select only those transactions. Leave a field blank if you do not want to limit your query to
transactions matching those criteria.
Step# 3: Choose Find.
Step# 4: Select the transaction to view, and then choose "Activities".
Standard Reports
This chapter explains some of the most important Oracle Receivable Standard reports and listings. It provides step-by-step instructions for submitting a request, illustrates how
you can use reports to reconcile transactions to the general ledger, and explain report parameters and headings common to each Oracle Assets report.
Running Standard Reports

Use Oracle Receivable standard reports and listings to analyze and track your accounts Receivable information.
Step# 1: Navigate to Submit Request window.
Reports > Accounting
Step# 2: Select the Name of the request (report or program) you want to run from the LOV in the Name field.
Step# 3: Use the AR Reconciliation Reports to start the reconciliation process. It will provide a summary of your customer, transaction, receipt, and account balances for the
period that you specify. It can give you a starting point to identify areas that need research .Use these reports to get the detailed information.
· Sales Journal by customer - Use to review all transactions.
· Transaction Register - Use to check that all items that can be posted are reflected on the Sales Journal .Sales Journal balance should match the total of the transactions here
after adding the credit memo total twice .
· Receipt Register - Use to review a list of receipts.
· Sales Journal By GL Account - Use to ensure that the Transaction Register matches the Sales Journal.
· Journal Entries Reports - Use to review the details that make up the general ledger journal entries.
· Receipts Journal Reports - Use to review details of receipts that appear in the Journal Entries reports.
· Aging Reports - Use the last day of the prior month to get the outstanding opening balance.
· Transaction Detail Report- Use this report to review all of the information you entered for your invoices, credit memos, debit memos, chargeback, guarantees, and deposits.
· Adjustment Register - Use to identify any adjustments that affect the transactions for the month.
· Unapplied Receipt Register - Use to determine customer balance after taking into account all on-account and unapplied amount.
· Applied Receipt Register - Use to identify receipts that reduce the outstanding opening balance.
· Invoice Exceptions Reports - Use to identify transactions that reduce the outstanding opening balance .This report shows all transactions where the open Receivable flag is s
to No. Therefore, the transactions do not display on the aging but do show in the Transaction Register. This can occur when an item can be ordered in Order Management but n
invoiced, such as an internal item.
Report Parameters
A Parameters window automatically appears if you select a request that requires parameter values.
Step# 1: Use the LOV to display a list of valid values for a special parameter
Step# 2: Once you enter the values in the required parameter fields and choose OK, the Parameters window closes, and your parameter values will be displayed in the Paramete
field.
Step# 3: Choose the Options Button to specify the numbers of copies you want to print and the printer from which you want to print your report.
Step# 4: Press Submit Button to submit a concurrent process to run the Report.
Step# 5: To view your Report, Navigate to the Requests window by choosing View from the Menu Bar then View Requests
Step# 6: Click the button View Output to see your online generated Report.
c) Running Revenue Recognition

Step# 1: Navigate to Control > Accounting > Revenue Recognition
Step# 2: The revenue recognition program will automatically run prior to the General Ledger transfer process .You can run the Revenue Recognition program manually at any
time as well .The program is run to generate the revenue recognition schedule for invoice with accounting rules. Distributions are created and will pass to the General Ledger
during the appropriate accounting period. This is an essential process in accrual-based accounting.
Monthly Transactions
d) Transfer to General Ledger
You create accounting entries for invoices and other transactions in Oracle Receivables using the Oracle Sub ledger accounting architecture.
Oracle Sub-ledger Accounting is a rule-based accounting engine, toolset, and repository that centralizes accounting across the E-Business Suite. Acting as an intermediate step
between each of the sub-ledger applications and Oracle General Ledger, Oracle Sub-ledger Accounting creates the final accounting for sub-ledger journal entries and transfers
the accounting to Oracle General Ledger.
You have two programs to transfer the Receivable accounting to General Ledger Namely.
Create Accounting
The Create Accounting program creates and transfers journal entries. In general, the parameters described in the table below determine which accounting events are processed.
Create Accounting Program Parameters

Parameters Description
Ledger Required; limits accounting events selected for processing to those of a particular
ledger
Process Category Optional; restricts the events selected for accounting to a particular process
category. ( Transactions , Adjustment , Standard Receipts etc)
The Create Accounting program selects events with event types falling into the
event classes Assigned to the process category.
End Date Required; end date for the Create Accounting program; processes only those events
with event dates on or before the end date
Mode Required; determines whether the sub ledger journal entries are created in Draft or
Final mode
If Draft mode is selected, then the Transfer to GL, Post in General Ledger, and
General Ledger Batch Name fields are disabled. Draft entries cannot be transferred
to General Ledger.
Errors Only Required; limits the creation of accounting to those events for which accounting has
previously failed
If Yes is selected, the Create Accounting program processes all events with a status
of Error.
Report Required; determines whether to generate a report showing the results of the Sub
ledger Accounting program in summary or detail format
Transfer to General Ledger Required; if Mode is set to Final; determines whether to transfer the sub ledger
journal entries to General Ledger, Journal import is launched if set to Yes.
Post in General Ledger Required; if Mode is set to Final or Create Accounting is set to No; determines
whether to post sub ledger journal entries in General Ledger
General Ledger Batch Optional; user-entered batch name that appears on the transferred General Ledger
Name sub ledger journal entries. Transfer to GL option must be set to Yes.
Include User Transaction Required; controls whether the report displays user identifiers' names and values.
Identifiers
Submit Accounting
Whenever you run the Submit Accounting program, Receivables first runs the standard Revenue Recognition program with same parameters that are used in Create Accountin
Program.
If you want to run the Create accounting or submit Accounting Program for a single transaction, one can also transfer the receivables entries from the current form like
Transactions, Receipts etc., to create the accounting for a single Transaction, Receipt.
Step# 1: Go to Tools select Create accounting it will open the Create Accounting Window you will find the three options.
a. Create Final Accounting Post to GL

b. Create Final Accounting
c. Create Draft Accounting
Step# 2: Choose the above options to create accounting for a single transaction.
a) Accounts Receivable Period End Close

Open and close accounting periods in your calendar to control the recording of accounting information for these periods. Receivables lets you open future accounting periods
while your current period is still open. Receivables also lets you reopen previously closed accounting periods and enter receivables activities without transferring transactions t
the general ledger when you set your accounting periods to 'Future.'
Define your receivables calendar in the Accounting Calendar window. Receivables reference the statuses of these accounting periods to control transaction entry and journal
entry creation to your general ledger.
You cannot enter an activity in a closed accounting period.

Navigation : Control (N) -> Accounting -> Open/Close Periods
Period Status
An accounting period can have one of the following statuses:
Closed: Journal entry, posting, and transaction entry are not allowed unless the accounting period is reopened. Receivables verify that there are no unposted items in this period
Receivables do not let you close a period that contains unposted items.
Close Pending: Similar to Closed, but does not validate for Unposted items. Journal entry, posting, and transaction entry are not allowed unless the accounting period is
reopened.
Future: This period is not yet open, but you can enter transactions in this period. However, you cannot post in this period until you open it.
Not Opened: This period has never been opened and journal entry and posting are not allowed.
Open: Journal entry and posting are allowed.
To open or close an accounting period:

Step# 1: Navigate to the Open/Close Accounting Periods window.
Step# 2: To update the status of an accounting period, place the cursor in the Status field next to that period, then enter a new status.
Step# 3: To open the next accounting period after the Latest Open Period, choose Open Next Period. Receivables change the status of the next period to 'Open.'
Step# 4: Save your work
A. Maintenance Activities
Transaction Types
Use transaction types to define the accounting for the debit memos, credit memos, on-account credits, chargeback, commitments, invoices, and bills receivable you create in
Receivables. Transaction types also determine whether your transaction entries update your customers' balances and whether Receivables posts these transactions to your gener
ledger.
If Auto Accounting depends on transaction type, Receivables uses the general ledger accounts that you enter here, along with your Auto Accounting rules, to determine the
default revenue, receivable, freight, tax, unearned revenue, unbilled receivable, finance charges, and Auto Invoice clearing accounts for transactions you create using this type.
For bills receivable, the accounts that you enter here determine the bills receivable, unpaid bills receivable, remitted bills receivable, and factored bills receivable accounts for a
bill receivable.
You can associate transaction types with your invoice sources in the Transaction Sources window to speed data entry in the Transactions and Credit Transactions windows.
Active transaction types appear as list of values choices in the Transactions, Reverse Receipts, Credit Transactions, and Transaction Sources windows, and for bills receivable i
the Bills Receivable and Receipt Classes windows.
You can also define credit memo and invoice transaction types to use with Auto Invoice.
You should define your transaction types in the following order:
· Credit memo transaction types
· Invoice, Debit memo, and Chargeback transaction types
· Bills receivable transaction types
· Commitment transaction types
You must define your invoice transaction types before you define your commitment types.
You can change most of the values here but its recommended not to change the Name of the Transaction type, the change will we applicable to the new transaction not the
existing ones.
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
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.
You can define balance forward payment terms to bill customers periodically (daily, weekly, or monthly) at the account or site level using balance forward billing. The balance
forward bill for a billing period shows the previous balance carried over from the last billing period, payment received, current charges and activities, and current total
outstanding balance.
You can also create split payment terms for invoice installments that have different due dates.
You can use payment terms to determine the amount of each installment. Receivables lets you either distribute tax and freight charges across all installments, or allocate all
freight and tax amounts in the first installment of a split term invoice. You can use prepayment payment terms to indicate which business transactions require prepayment for
goods and services. Receivables displays the active payment terms you define as list of values choices in the Customers, Customer Profile Classes, and Transactions windows
Receivables Activity
Define receivables activities to default accounting information for certain activities, such as miscellaneous cash, discounts, late charges, adjustments, and receipt write-off
applications for a complete list of activities.
Activities that you define appear as list of values choices in various Receivables windows. You can define as many activities as you need.
The Tax Code Source you specify determines whether Receivables calculates and accounts for tax on adjustments, discounts, and miscellaneous receipts assigned to this activit
If you specify a Tax Code Source of Invoice, then Receivables uses the tax accounting information defined for the invoice tax code(s) to automatically account for the tax. If th
Receivables Activity type is Miscellaneous Cash, then you can allocate tax to the Asset or Liability tax accounts that you define for this Receivables Activity.
Receivables uses Late Charges activity's accounting information when you record late charges as adjustments to overdue transactions Query the Chargeback Adjustment activi
that Receivables provides and specify GL accounts for this activity before creating chargebacks in Receivables.
Query the Credit Card Chargeback activity that Receivables provides and specify a GL clearing account for this activity, before recording credit card chargebacks in Receivabl
You can make an activity inactive by unchecking the Active check box and then saving your work.
Navigation : Setup (N) -> Receipts -> Receivable Activities
Once you define an activity, you cannot change its type. However, you can update an existing activity's GL account, even if you have already assigned this activity to a
transaction.
Receipt Classes
Define receipt classes to determine the required processing steps for receipts to which you assign receipt methods with this class. These steps include confirmation, remittance,
and reconciliation. 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 a
three of these steps, Receivables automatically creates receipts assigned to this receipt class with a status of Cleared.
Receivables uses the receipt 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 definin
receipt class whose creation method is Bills Receivable, then Require Confirmation, Remittance Method, and Clearance Method are disabled. If you are defining a receipt clas
whose creation method is Automatic, then the Remittance Method cannot be No Remittance.
In bank account detail all the details will populate automatically from bank window but you can override them here
Posted by Raju Chinthapatla at 9:47:00 AM 0 comments
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1/21/2020 Oracle Applications: Search results for credit memo over view in accounts receivable

Home AP AR GL INV PO OM HR PA FAQS SCRIPTS PL-SQL TECH OAF FUSIO

THURSDAY, AUGUST 4, 2011

Accounting For Oracle Receivables

Flow of Accounting Information:

General Ledger Interface:

Period Close Procedures:

Old Aging Balance -----(Aged Trial Balance - 7 Buckets by Account)

For invoices with deferred revenue: a) When first created:

b) For each of the next 11 periods:

Credit Memo tied to an invoice:

DR : Revenue (Memo Line - may override)

Payment applied to an invoice without discount terms:

Payment applied to an invoice with discount terms:

When you leave a receipt as unapplied:

When you identify a receipt is as a pre-payment or deposit:

For unidentified receipts:

DR : Unapplied (Receipt Class)

In the Category of Adjustment:

In the Category of Adjustment (AR):

In the Category of Chargeback:

In the Category of Chargeback (AR):

In the Category of Trade Receipts:

In the Category of Trade Receipts (AR):

DR : Cash (Receipt Class)

Reduce the freight amount:

Write-off the invoice balance:

Gain - now worth more:

Loss - now worth less:

Mandatory setups in Accounts Receivables:

1. Defining the customer

2. Define customer bank

4. Defining the dunning letters

5. Defining the statements

6. Defining auto cash rule set

9. Defining the sales person

10. Auto Lockbox

The key flexfields of AR are:

Sales tax location flex field

The works under AR are classified into 4 workbenches

1. Transaction work bench

2. Receipts work bench

Auto cash rule set:

Debit memo transaction

Credit memo Transaction

Charge back transaction

Debit memo transaction:

Credit memo transaction:

Charge back Transaction:

Hierarchy of tax calculation:

Customer site level

Transferring the amount AR to GL

Posted by Raju Chinthapatla at 6:09:00 PM 0 comments

SATURDAY, DECEMBER 5, 2015

Oracle Account Receivable (AR) Functional Training Guide

Enter Invoice or Debit Memo:

Navigation : Transaction (N) ->Transactions

Step# 1: Transaction Batch Sources

Step# 4: Choose a class of Invoice or Debit Memo

Step# 5: Choose a transaction Type with a class of Invoice or Debit Memo

Step# 8: Enter any special instruction or comments (Optional)

Step# 15: Accounting Entries

Entering Credit Memo