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GRR Real Time Accounts Receivables Docs

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ACCOUNTS RECEIVABLES EXERCISE

Author: GRR

Creation Date:

Last Updated:

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Exercise Real Time Implementation


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Document Control
Change Record

Date Author Version Change Reference

3rd Mar 2005 1.0

Reviewers
Name Position

Distribution
Copy No Name Location

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Contents

DOCUMENT CONTROL 2

CONTENTS 3

CHAPTER1 - CUSTOMERS 4
CHAPTER 2-TRANSACTIONS.........................................................................................................................5
CHAPTER 3- RECEIPTS..............................................................................................................................11
Chapter 4- Collections................................................................................................15

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Chapter1 - Customers
Oracle Receivables provides the facility of defining Customers in order to enter transactions through
the transaction entry screen. The Customer definition is a one-time activity for a customer and the
details can be modified accordingly.

Defining Customers

Customers  Customers

1. Define Customer

2. Enter Customer Name

3. Select either Organization or Person in the Customer Type field,


default is organization

4. If there is no customer with the same name, you will be given a


prompt to select the “new” button to add a new customer

5. Enter Customer Number. (Organization Number is automatically


generated)

6. Enter the Contact Person’s name, Mail Address, Telephone, Fax,


Mobile Numbers, if any. (If there is no contact person, the Customer’s
name to be entered.)

7. Enter the Business Address of the Customer. (Compulsorily enter the


Address line 1, City, Pincode and State and click OK (B))

8. Choose Usage-‘Bill To’ from LOV

9. Location No. is automatically generated.

10. Tick the Primary Check box.

11. Save and close the Screen

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Chapter 2-Transactions
Oracle Receivables provides a facility to enter transactions through the
transaction entry screen. The various types of transactions that can be
entered are Invoices, Deposits and Credit Memos.

Creating Transactions Types

Setup-Transactions  Transaction Types

1. Navigate to Transactions window.

2. Enter Name of Transaction Type, Enter description

3. Choose Class ‘Invoice’, Check ‘ Open Receivables’, ‘Post to GL’


flags,
4. Choose ‘Priting Option’ ‘Print’ , Transaction Status ‘ Open’

5. Choose ‘Creation Sign’ – Positive sign’ (For Credit Memo Choose


Negative Sign), Check ‘Natural Application only’ enter start date
6. Enter Receivable Account

7. Enter Revenue Account

8. Save the Record

Creating Transaction Sources

Setup-Transactions  Transaction Sources

1. Enter a Transaction Source

2. Enter Transaction Source Name

3. Enter Description

4. Enter effective date

5. Choose the numbering for the transactions

6. If automatic, enter Last number

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7. Save the Record

Raising Invoices - Overview

Transactions  Transactions

1. Navigate to Transactions window.

2. Enter the Date and Currency of this transaction. The default date is
the current date. The default currency your functional currency.

3. If the Invoice has to be entered in any currency other than


Functional Currency enter exchange rate information.

4. Select the Source from the list of values for this transaction. The
transaction source specifies automatic or manual invoice
numbering.

5. Choose the Invoice Type as class for Invoice, Credit Memo for
entering a Credit Memo.

6. Choose the Transaction Type depending upon the nature/type of the


Transaction.

7. Enter the GL Date for this transaction, By default GL Date is the


Transaction date

8. Select the Customer Name, Location, Ship-To and Bill To


addresses

9. Enter the payment Terms for this transaction. Receivables calculate


the Due Date based on the payment terms and date of this
transaction.

10. Enter the Remit-To-Address in the” Remit To, Sales “ alternate


region of the transaction entry screen by taking a list of values.

11. To enter the Invoice details, Invoice Description, Amounts etc., to


bill to this customer, choose Line Items, then enter the Quantity,
and Amount for each line.

12. Press the button “Line Items”.

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13. Enter the Description for the Invoice

14. Enter Quantity as 1 and the Total Invoice Amount in the Unit Price
Column. Save your work and close the Lines screen.

15. Press the ‘Complete’ button to complete the Invoice.

16. If you need to change any thing, first incomplete the invoice by
pressing the ‘Incomplete’ button and then do the changes. You
cannot incomplete a transaction if it is already transferred to GL.

17. Once changes are finished press the ‘Complete’ button again to
complete the Invoice.

Raising an Invoice for Deposit

Transactions  Transactions

1. Navigate to Transactions window

2. Enter the Date and Currency of this transaction. The default date is
the current date. The default currency your functional currency.

3. If the Invoice has to be entered in any currency other than


Functional Currency enter exchange rate information.

4. Select Invoices in Source from the list of values for this transaction.

5. Choose the Invoice Type as Class for Deposit.

6. Choose the Transaction Type depending upon the nature/type of the


Transaction.

7. Enter the GL Date for this transaction, By default GL Date is the


Transaction date

8. Select the Customer Name, Location, Ship-To and Bill To


addresses

9. Enter the payment Terms for this transaction. Receivables calculate


the Due Date based on the payment terms and date of this
transaction.

10. Click the Commitment Function on the Form to enter the Invoice
Description, Amount and the Validity of the Vouchers

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11. Enter the Total Voucher Amount in the Amount Field

12. Enter the Description for the Invoice; this description gets printed
on the Invoice when the Invoice is printed from the system.

13. Save your work and close the Commitment screen.

14. Press the ‘Complete’ button to complete the Invoice.

Raising an Invoice for With Accounting Rules

Transactions  Transactions

1. Navigate to Transactions window ‘Type’

2. Enter the Date and Currency of this transaction. The default date is
the current date. The default currency your functional currency.

3. If the Invoice has to be entered in any currency other than


Functional Currency enter exchange rate information.

4. Select Invoices in Source from the list of values for this


transaction.

5. Choose the Invoice Type as Invoice

6. Choose the Transaction Type depending upon the nature/type of


the Transaction.

7. Enter the GL Date for this transaction, By default GL Date is the


Transaction date

8. Select the Customer Name, Location, Ship-To and Bill To


addresses

9. Enter the payment Terms for this transaction. Receivables


calculate the Due Date based on the payment terms and date of this
transaction

10. Click the More Function on the form and choose the Invoicing
Rule as ‘IN ADVANCE’.

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(Note: The Rule has to be specified without Fail before saving/clicking


on line items)

(Ensure that the Period Status is either Open or Future Enterable for
the Entire agreement Periods)

11. Enter Quantity as 1 and the Total Invoice Amount in the Unit Price
Column. The system will automatically calculates the Invoice
Amount in the Amount Column. (You cannot manually enter the
Invoice Amount directly). The Amount field is automatically
updated as follows: Quantity x Unit Price.

12. Enter the Description for the Invoice; this description gets printed
on the Invoice when the Invoice is printed from the system.

13. Click the Rules Function on the form and choose the relevant
Accounting Rule for recognizing the Revenue, the Duration and
the Start Date. By default the start date will be the transaction date

14. If the Start date is modified, then the System will automatically
change the Transaction and GL Date accordingly

15. Press the Button “Distributions “ to go to Accounting window

16. There will be accounting lines for Receivables, Revenue and


Unearned Revenue for the transactions. The GL Accounts are
defaulted from the Customer’s Bill-To Site.

17. Ensure that the Unearned Revenue Account is recorded correctly.

Raising an Credit Memo Invoice against an Invoice - Overview

Transactions  Credit Transactions

1. Go to the transaction screen and query the Invoice against which


credit memo has to be issued.

2. Click on Find button to get the Invoice details

3. Enter the reason for issuing a credit memo in the Reason field of the
Credit Transactions screen.

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4. Take a list of values and select Credit Memo Transaction Type in the
Type Field.

5. Enter either the percentage or the amount to be credited out of the


Original amount (which is displayed in the field displayed as
‘Original’ under Credited Transaction) in the field ’Line’ under Credit
memo.

6. Then complete the credit memo by pressing the complete button in the
Credit Transactions screen and save your work.

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Chapter 3- Receipts

Creation of Receipt Class

Setup  Receipts  Receipt Class

1. Enter Name of the Receipt class


2. Enter Creation method and Remittance method as Standard and
Clearance Method by Matching

3. Save the information


4. Enter Payment Method Name ( Name of the Accounting Centre –
Check) and the Effective date.

5. Go to Bank Accounts

6. Choose the Bank Name

7. Choose the Bank Account Name

8. Give the effective date, check Override Bank and save the information

Creation of Receivable Activities

Setup  Receipts  Receivable Activities

1. Enter name and description of the Miscellaneous Receipt to be created

2. Choose Miscellaneous Cash in Type

3. Choose Activity GL Account in GL Account Source

4. Choose the Tax Code as None

5. Enter the GL code combination as applicable

6. Save the record

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On account-Receipts

Receipts  Receipts

1. Choose a Receipt Type of ’Cash.’

2. Enter the receipt information, including receipt number

Enter Currency, Receipt Amount,Gl date and Receipt date

3. You can change the GL Date, but it must be in open or future


period

4. Select Payment Method from LOV

5. Enter Net Receipt Amount

6. In “ Customer Name” field search for the customer

7. Choose Location from lov

8. Save the receipt

9. In the Receipts, click the Applications button

10. In the ‘Apply To’ field choose ‘On Account’ from LOV

11. Save the application

12. Close the application screen

13. View Accounting

14. Close the screens

Un applied-Receipts

Receipts  Receipts

1. Choose a Receipt Type of ’Cash.’

2. Enter the receipt information, including receipt number

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Enter Currency, Receipt Amount,Gl date and Receipt date

3. You can change the GL Date, but it must be in open or future


period

4. Select Payment Method from LOV

5. Enter Net Receipt Amount

6. In “ Customer Name” field search for the customer

7. Choose Location from lov

8. Save the receipt

9. View Accounting

10. Close the screens

Un identified-Receipts

Receipts  Receipts

1. Choose a Receipt Type of ’Cash.’

2. Enter the receipt information, including receipt number

Enter Currency, Receipt Amount,Gl date and Receipt date

3. You can change the GL Date, but it must be in open or future


period

4. Select Payment Method from LOV

5. Enter Net Receipt Amount

6. Save the receipt

7. View Accounting

8. Close the screens

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Miscellaneous Receipts from Staff and Others

Receipts  Receipts

1. Change Receipt type to ‘MISC’

2. Enter Receipt Number

3. Enter Receipt Date

4. Select Payment Method for LOV Choose

5. Enter Net Receipt Amount.

6. Select Activity. Select activity type from lov.

7. Review Accounting

8. Save and Close Receipts screen.

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Chapter 4- Collections

Receivables application lets you view customer account information in a


variety of ways. You can view the total amount due from a customer or
customers in the Customer Accounts window. You can view all
transactions that are past due for a specific customer in the Account
Details window

Collections  Customer Accounts

1. Navigate to “Find Customer Accounts” window.

2. Pick Customer Number / Customer Name as the query criteria.

3. In case you want to see Location-wise customer balances,


check “Display Location” check box.

4. Press button “Find” to navigate to “Customer Account” screen.

5. Place the cursor at the appropriate line for which you want to see the
balance and press button “Account Details”.

6 The System lets you view detailed or summary information about your
invoices, credit memos, debit memos that have outstanding balances.
Account Details window is used to view the status, due date, number
of days late, dispute amount, and the balance due for a specific
transaction.

7 Receivables also lets you view the age of the customer balance by
pressing on the Aging Button on the Customer Accounts form You can
view more detailed information about a transaction by choosing the
Transaction Overview button. An overview of the monthly
transactions of the customer can be obtained by choosing Account
Overview button on the Customer Account form.

8 An overview of the Customer Interactions with the customer can be


obtained by choosing Calls button.

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