Implement Receipts

Copyright 2007, Oracle. All rights reserved.

Objectives

After this module, you should be able to:

Enter setup information relating to receipts
Discuss implementation considerations

Copyright 2007, Oracle. All rights reserved.

Agenda

Entering receipt setup data

Discussing implementation considerations

Copyright 2007, Oracle. All rights reserved.

Overview of Receipt Setup

Receivables
activities

Remittance
bank

Bank
accounts

Receipt
source

Receipt
class and
receipt
methods

Setup options:
AutoCash Rule Sets
Application Rule Sets

Copyright 2007, Oracle. All rights reserved.

Receivables Activity Types

Earned

Adjustments

Unearned

Miscellaneous
Cash

Discounts
Bank Errors

Late Charges
Refunds
Copyright 2007, Oracle. All rights reserved.

Credit Card
Chargebacks

Receivables Activity Setup

1. Select an operating unit
2. Select an Activity Type
3. GL Account Source:
Activity GL Account
Distribution Set
Revenue on Invoice
Tax Rate Code on
Invoice
4. Tax Rate Code Source:
None
Activity
Invoice
Copyright 2007, Oracle. All rights reserved.

Receivables Activity Example

Invoice #100
Revenue account 4010
Tax account 2025

Line 1
Tax for Line 1*

500
100

600

Receivable account 1210

*Tax rate code = VAT @ 20%

Adjustment #200
Tax rate code source =
None

Tax rate code source =

Invoice
Revenue

Revenue
Receivable

120
120

Tax
Receivable

Copyright 2007, Oracle. All rights reserved.

100
20
120

Receipt Class, Receipt Method,

and Bank Account Relationship

Receipt class

Receipt method

Receipt method

Bank account

Bank account

GL account

GL account

Copyright 2007, Oracle. All rights reserved.

Defining Remittance Banks and

Bank Accounts

Cash
Account

Contact

Cash
Account

Contact

Copyright 2007, Oracle. All rights reserved.

Cash
Account

Contact

Defining Receipt Classes

Creation Method
Automatic
Manual

Clearance Method
Direct
By Automatic Clearing
By Matching

Remittance Method
No Remittance
Standard
Factoring
Standard &
Factoring

Receipt Method
One or more per
Receipt Class
Acquires Receipt
Class attributes
Tie to one or more
Bank Accounts

Copyright 2007, Oracle. All rights reserved.

Associating a Bank Account

With a Receipt Method

Bank Accounts
Bank Name
Branch
Account
Currency

Receipt Class/
Receipt Method

Copyright 2007, Oracle. All rights reserved.

Defining Receipt Sources

Determine:
Creation Method
Automatic
Manual

Batch Numbering
Defaults
Receipt Class
Receipt Method
Bank Account

Set Profile Option:

AR: Receipt Batch
Source
At any level:

User
Responsibility
Application
Site

Copyright 2007, Oracle. All rights reserved.

Defining AutoCash Rules

Clear Past Due Invoices Grouped
by Payment Terms
Apply Oldest
Invoice First

Quick
Cash
Receipts

Clear Past Due Invoices

Match Payment with Invoice

Clear
Account

Copyright 2007, Oracle. All rights reserved.

Defining Application Rule Sets

Seed Rule Sets:

Line First - Tax After
Line First - Tax Prorate
Prorate All

Partial
Payment

Create Your Own

Each Transaction Type

OR
System Level

Copyright 2007, Oracle. All rights reserved.

Setting Up Cross Currency Receipts

1. Define a cross-currency rounding account in the

System Options window
2. Define a suspense account in General Ledger
3. Set the Journals: Display Inverse Rate profile
option

Copyright 2007, Oracle. All rights reserved.

System Options for Receipt Accounting

Realized Gain/Loss Accounts

+ 100

- 100

01-000-9230-0000-000

01-000-9240-0000-000

Cross Currency Rounding Account

Exchange Rate 78.374
Revenue

100 USD

Revenue

20 USD

Receivables

78.37

CAD

15.67 CAD

120 USD

Rounding Account
Copyright 2007, Oracle. All rights reserved.

94.05 CAD
.01 CAD

Miscellaneous System Options

Relating to Receipts
Discount
Basis

Discount on
Partial
Payment

Receipts Per
Commit

AutoCash
Rule Set

Require
Billing
Location

Chargeback
Due Date

Allow
Unearned
Discounts

Invoices Per
Commit

Application
Rule Set

Copyright 2007, Oracle. All rights reserved.

Profile Options

AR: Allow Overapplication in Lockbox

AR: Always Default Transaction Balance for Applications
AR: Application GL Date Default
AR: Cash - Allow Actions
AR: Commit Between Validations in Lockbox
AR: Create Bank Charges
AR: Include Receipts at Risk in Customer Balance
AR: Invoices with Unconfirmed Receipts
AR: Receipt Batch Source

Copyright 2007, Oracle. All rights reserved.

Agenda

Entering receipt setup data

Discussing implementation considerations

Copyright 2007, Oracle. All rights reserved.

Implementation Considerations
for Receipts
GL
Accounts
for Banks

AR:
Receipt
Batch
Source
Profile
Option

Receipt Defaults

One or Many
Cash Accounts
Copyright 2007, Oracle. All rights reserved.

Other Implementation Considerations

for Receipts

Earned
AutoCash
Rule Sets

AutoLock
Box

Define
Receivables
Activities
First

QuickCash

Copyright 2007, Oracle. All rights reserved.

Unearned
Then
Define
Banks

Setting Up Lockboxes

Transmission Formats

Receipt Class/
Receipt Method

Managing Claims

Copyright 2007, Oracle. All rights reserved.

Function Security
Function Name

Activities That Can Be Restricted

View, enter, update, and delete cash receipts

Cash

View, enter, update, and delete miscellaneous

transactions
View, enter, and update QuickCash receipts
(either all, manual only, or AutoLockbox only)
Post QuickCash

Miscellaneous
QuickCash
QuickCash Post

Reverse

View, create, maintain, approve, and format

automatic remittances
View, create, maintain, approve, format,
confirm, and unconfirm automatic receipts
Standard reversals or debit memo reversals

Exchange Rate Adj.

Create exchange rate adjustments

Remit
Auto

Copyright 2007, Oracle. All rights reserved.

Summary

In this module, you should have learned how to:

Enter receipt setup information
Discuss the implementation considerations

Copyright 2007, Oracle. All rights reserved.