Skip to main content

Different types of transaction in Oracle Receivables R12


Transaction Class in Oracle Receivables : 

There are 6 transaction class in Oracle Receivables into which a transaction can be classified. These are :
  1. Invoice
  2. Debit memo
  3. Credit Memo
  4. Chargeback
  5. Deposit
  6. Guarantee

Invoice : It is a document which is sent to the customers to let them know that a transaction has been recorded and the customer balance due related to the transaction.

Debit Memo: It is sent to the customers to let them know that they were undercharged for a transaction . For eg: if you forget to charge your customer for freight amount for a transaction , you would send a debit memo to your customer rather than creating a new invoice for the same. Debit memo increases the liability (balance due) of the customer. 

Credit Memo : This document is sent to the customers to let them know that they have been overcharged for a transaction. Credit Memo would bring down the liability(balance due) of the customer.  Credit Memo has a negative amount. Eg: Suppose your customer returns back a defective item which you have shipped, you will send a credit memo to the customer to let them know the amount they have to pay less for returning the item. 

Chargeback : This is sent to the customers to let them know of the balance due after only a part of an existing transaction has been paid. For eg : Suppose an invoice amount is 1000 INR and your customer has paid you 800 INR. You would chargeback an amount of 200 INR to the customer. 

Deposit : This document is created when your customer deposits an amount with you as a committment before having any transaction with you. You have to create a receipt for the deposit and apply the deposit to the future transactions of the customer. 

Guarantee: This document is created when your customer has promised to have transactions worth a certain amount but has not paid for it. In this case, you would record a guranatee first. Then you would create receivable transactions for the customer and apply receipt and guarantee document to the transaction.








Comments

Post a Comment

Popular posts from this blog

Prepayments in Oracle Receivables R12

When you determine that a prepayment is required, you record the payment information in your feeder system (eg: OM) , and the information is passed to Oracle Receivables. . When the order is later sent to Receivables for invoicing, AutoInvoice creates an invoice that is marked as prepaid. Setups :   1. In OM:System parameters set 'Allow Multiple Payments' to 'Yes'. 2. Create a Customer Bank Account. 3. Assign the Customer bank Account to Customer Site. 4. Create a Payment Method and assign an internal bank account (Receipt Method in Receipt Class         window). 5. Create a document sequence for the Payment method.  6. Create or Update a Payment term by checking Prepayment checkbox. 7. Create a Prepayment Receivable Activity. Process :  1. Book a Sales Order in OM responsibility.  2. Go to Action in Sales Order header and select Payments.  3. Select Payment Type as Cash , 100% (Percent amount of sales order t...
Post a Comment
Read more

Oracle Apps AR R12 Interface Tables and Information

RECEIVABLE INTERFACE TABLES Transactions RA_INTERFACE_LINES_ALL This table acts as an intermediate storage of data between your external sytem, oracle subledgers and oracle receivables. You must enter all mandatory columns and columns required as per the transaction in this table (using a custom feeder program) alongwith the required oracle setups, so that Autoinvoice Master Program (AMP) can validate the information without any errors. Once data is validated, Autoinvoice Import Progra m (AIP) triggered by AMP imports data for various receivable batch sources (One AIP for each batch is trigerred) and creates oracle receivable transactions. Depending on the transaction you would create, populate the below transaction flexfields in the columns of this table :  Line Transaction Flexfield - Use when creating invoice lines.  interface_line_context interface_line_attribute1 to interface_line_attribute15 ( Use any as per requirement ). Reference Transaction...
Post a Comment
Read more

AutoAccounting in Oracle Apps Receivables AR R12

AutoAccounting AutoAccounting is a powerful feature in Oracle Apps Receivables which is used to default the Accounting Flexfield Structure (Chart Of Account Structure) / General Ledger  (GL) accounts for the transactions entered either manually or imported using Autoinvoice. AutoAccounting defaults Accounting Flexfield segments only for transactions (eg:- Invoices, Debit Memo, Credit Memo, Chargeback, Deposit, Guarantee ) and not for receipts. Account for receipts is simply taken from the Bank Accounts defined in receipt class. The below table shows the sources from which a segment in the below accounts can take a value . Now, let us know the use of various accounts and when it is used : Autoinvoice Clearing Account : This account hits when there is a difference between the revenue recognized and Selling Price times the Quantity invoiced. For this account to hit, enabling this feature in transaction batch sources is required. Freight Account : This is...
Post a Comment
Read more