accounts receivable

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Oracle Receivables Oracle Applications 11i

Oracle Receivables Understanding Functions

Oracle Apps : Account ReceivablesReceivables • Facilitates

• Control of Billing and Collection Processes , including user-defined dunning letters , statements , aging and key indicator reports.

• Generate standard invoices, debit-memos ,credit -memos , recurring invoices and commitments.

• Automatic accounting for all trade and miscellaneous cash receipts.• Track, monitor and collect your receivables to reduce customer’s

accounts.• Integrate with other Oracle application modules like order entry,

general ledger

Oracle Apps : Account ReceivablesCourse Objectives• Create / Enter & Manage Customer information• Enter Individual/Batch Transactions like Standard Invoices,

Credit-memos , Debit-memos , chargeback ,deposits etc.• Enter & Apply Individual/Batch Receipts for customers.• Know the collection methods supported by AR• Import Transactions using AutoInvoice feature from order entry

or external feeder system .

Oracle Receivables

Oracle Receivables Function’s

Key ProcessesKey Processes : • Entering Customer Information• Entering Standard Invoices• Entering Invoices with Rules• Correcting Transactions • Tax Processing• Completing Transactions• Entering Manual Receipts.• Entering Automatic Receipts.• Miscellaneous actions relating to collections like dunning letters• Auto-Invoice->Creating Transaction from external sources like

sales orders (Order Management ) , legacy System etc.

Oracle Apps : Account Receivables

Main Functions/Menu’s in Oracle Receivables • Transactions• Receipts • Collections

CustomersSet-ups ReportsInterfacesControl

Key Features ( 1 of 2 )

Customer• Specify customer relationships • Validate customer addresses • Enter addresses in country-specific formats • Enter an unlimited number of:

• Addresses, foreign or domestic • Remit-to addresses • Business purposes • Contact names • Telephone numbers

Oracle Apps : Account ReceivablesCustomers :• Oracle Receivables can be used to group customers into profile

classes to streamline credit and collection processing. • Enable related customers to establish reciprocal payment and

contract Terms. • Create , maintain customer information.• Eliminate duplicate customer entry • Merge customers.• Establish Relationship between Customers.

Customer

Oracle Apps : Account ReceivablesCustomer Workbench • Customer Workbench provides the following Functions

• Standard• Quick• Summary• Profile Classes• Merge

Oracle Apps : Account ReceivablesCustomer Entry :

• Pre-Requisites are • Choose automatic or manual customer and site numbering (optional ) .

Choose automatic or manual organization and person numbering by setting the Generate Party Number Profile Option.

• Define customer profile classes (optional )• Define customer look-ups (optional )

Oracle Apps : Account ReceivablesDefining Customer Profile Classes.

• Profile classes are used to define a customer more accurately and efficiently.

• A Profile class defines several default values for customers with similar credit terms and payment terms , statement cycle collector and dunning letter sets , finance charge terms.

• Default Values can be modified specific to customer • Example: A profile class can be defined for small scale customers

and their credit terms , statements cycle , etc. values can be set for them as a business policy.

Customer Profiles

Oracle Apps : Account ReceivablesUpdate options for profile class :

• Do not update : Only the customers created in the future will be reflect the change

• Update all profiles : The attribute will be updated in all profiles.• Update all uncuztomised profiles : Profile Value attribute is

customized for a customer then any change to this profile class will not change the customized attribute

Oracle Apps : Account ReceivablesCustomer Entry

• Different Types of customer entry methods are • Standard customer entry• Quick customer entry• Customer interface method

Oracle Apps : Account ReceivablesEntering Customers using Standard method :

• Enter the Customer Name and number(if numbering is set to manual )

• Enter the Profile class • Customer Address : Multiple addresses can be assigned to a

single customer and for each address business purposes can be assigned .Also all the different addresses can have relationshipdefined like bill-to and ship-to address .

• Bank Account information like bank name and account numbers.• Payment Methods • Contact person name and contact numbers• Order Management information

Oracle Apps : Account ReceivablesAssigning Business Purpose to Addresses :

• Bill-to : All invoices are sent at this address for payment • Ship-to: Place to where the goods are shipped. Sales tax are

calculated based on this address• Dunning: Dunning Letters are sent to this Location . Only one

active dunning site can be defined per customer• Legal : Serves as the government point of contact • Statement : Consolidated statement and invoices are sent here

and only one site per customer• Marketing : Marketing Literature and Product announcement , data

sheets are sent at this address.

Oracle Apps : Account ReceivablesEntering Customers using Quick method :

• Used to create customers with minimum business information for one-time or drop-shipments.

• Quick entry method allows to assign business purpose simply and quickly to a single address.

The difference between standard entry and quick customer entry

• Bill-to and Ship-to can not be linked to each other• Profile classes can not be defined.• Business purposes can not be identified as primary or default.• Location names cannot be assigned to an address.

Customer Interface

Oracle Apps : Account ReceivablesEntering Customers using Customer Interface :• All customer data can be imported using the customer interface• Customer relationship can be added through customer interface• Customer Profile class information like payment terms, statement,

automatic receipt , finance charge , dunning and invoicing information can also be imported through interface.

• After the data is loaded in the temporary interface table and after correction and validation run the concurrent program for customer interface to upload data in the oracle receivables tables.

Oracle Apps : Account ReceivablesMain Functions/Menu’s in Oracle Receivables • Transactions • Receipts • Collections • Customers • Set-ups • Reports• Interfaces• Control

InvoicingCreate sign-insensitive transactions

Recognize revenue over multiple periods using invoice rules

Create recurring invoices

Create consolidated billing invoices based on periods defined by payment terms

View transaction balances

View accounting entries on-line

Print invoices at any time

Invoicing

InvoicingSpecify transaction type, including: • debit and credit memos, recurring invoices, chargebacks,

adjustments and commitments.

Create credit memos, including: • Full and partial credit • Automatic sales credit reversal • On-account credit

Handle write-offs automatically or manually

Set adjustment limits

Recurring Invoices

Oracle Apps : Account ReceivablesTransaction • Oracle Receivables Provides Transaction Work-Bench to :

• Create New / Update existing Invoices , Debit memos, Credit-memos , On–account credits , Chargebacks , and Commitments within Receivables

• To Enter , Review or Complete transactions • Copy invoices • Create Adjustments • Create Credit transactions • Review Invoice Installments

Oracle Apps : Account ReceivablesTransaction Workbench• Transaction workbench offers the following functions

• Batches - Process any type of transaction in batches in large numbers.

• Batches summary - Query all or any one batch in particular and perform desired actions.

• Transactions - Process a single invoice at one time • Transaction summary - Query one invoice at a time and perform

further action • Credit Transaction - You can create Credit-Memos.• Copying Transaction - You can create copy of a invoice when a

similar invoice is to be generated on daily/weekly/monthly basis

Oracle Apps : Account ReceivablesClasses of Transaction : (seed data) • Invoice : billing customers for product and services.• Credit memo : credit customers not specific to invoices.• Debit memo : bill customers for products /services not included in earlier

invoices.• Deposit : bill customers for contractual agreements• Guarantee : a contractual agreement that is referenced by invoice . No

payments only commitments.• Chargeback : Adjust the remaining balance of the existing debit memo to

zero and create a new debit item to bill customer for unpaid balance of the original invoice . This is more practiced in USA where the Law of Limitation is applicable.

• The above transaction classes are system defined , a new class cannot be defined by user. You can define types of a particular transaction class called as Transaction Types.

Credit & Debit Memo

Oracle Apps : Account ReceivablesTransaction Types • Declares Whether

• Transaction updates open receivables• Post to General Ledger• Tax is to be Calculated

• And Determines• Transaction creation sign (+/- or any sign)• Natural Application / Allows Overapplication• Default transaction class• Payment Terms• Printing Options

• Also • You Can Set-up AutoAccounting to use transaction types when

determining general ledger accounts.

AutoInvoice

Sales Tax InterfaceThe Sales Tax Rate Interface enables you to load sales tax locations and rates into your application from your sales tax feeder system.

This program allows you to load one or more tax rates for the same location which cover different date ranges and postal codes.

The records that you load into Oracle Receivables or Order Entry through the Sales Tax Rate Interface program update your existing sales tax rates with the most current tax rates for each location.

Oracle Apps : Account ReceivablesMain Functions/Menu’s in Oracle Receivables

• Transactions • Receipts• Collections • Customers • Set-ups • Reports• Interfaces• Control

Receipts

Oracle Apps : Account ReceivablesReceipts :• Oracle Receivables provides the Receipts Workbench to :

• Create receipt batches and enter, apply,reverse, reapply, and delete Individual receipts.

• Enter receipts Manually , Import them using AutoLockbox, or create them Automatically.

• Clear or Risk Eliminate factored receipts • Remit Automatic receipts • Create chargebacks and adjustments • Submit Post QuickCash to automatically update your customer’s

account balance

Cash ApplicationUse AutoCash rules: • Apply to oldest invoice first • Exact match on invoice • Clear past due invoices • Clear the account • Clear Past Due Invoices grouped by Payment Term

Clear bank statement items automatically or manually Use flexible lockbox formats Create bank charges automatically Reapply cash Reverse multiple receipts in a single step Process Notes Receivable

Receipts

AutoLockbox

Quick cash

Oracle Apps : Account ReceivablesReceipt Workbench • Receipt Workbench provides the following function

• Batches : Enter Receipt in batch • Batches Summary : Query one or all Batches• Receipt : Enter Receipt individually• Receipt summary : Query one Receipt at a time• Remittances : Create,review and Approve Receipts for remittance .• Remittances summary • clear/risk Eliminate • Lockbox : Transfer receipt and application information from bank files into

Oracle Receivables – Transmission history– Maintain Transmission data

• Alternate name Batches

Oracle Apps : Account ReceivablesReceipts :• There are two types of Receipts

• Cash Receipt - To record Payment (such as cash or a check) that is received from customers for goods or services.

• Miscellaneous receipts -To record receipts not related to the organization’s usual transaction activity Revenue earned from investments, interest, refunds, and stock sales.

Oracle Apps : Account ReceivablesEntering Std. Receipts Manually

Enter and Apply

Charge back

Reverse Reapply

Reconcile

Adjustment

Oracle Apps : Account ReceivablesEntering Misc. Receipts Manually

Miscellaneous

Reconcile

Reverse

Oracle Apps : Account ReceivablesMain Functions/Menu’s in Oracle Receivables • Transactions • Receipts • Collections• Customers • Set-ups • Reports• Interfaces• Control

Collections

Oracle Apps : Account ReceivablesCollections • Oracle Receivables provides Collection Work-bench for the

following Purpose:• View Information about Customer Transactions • View customer Account Balances & Outstanding Balances• Place a customer account on credit hold• Place items in Dispute• View the dunning history for a transaction • Correspond with customers by recording customer calls.• You can use this workbench to review internal collections policies • Discover developing business trends• Create dunning letters, calculate finance charges, and print statements

using Oracle Receivables.

Oracle Apps : Account ReceivablesCollection Workbench :• Collection Workbench of receivables allows following Functions

• Customer Calls• Customer Accounts • Accounts Overview• Aging • Correspondence• Account Details• Transaction Overview• Unmatched Payments• Scheduler• AR Online

Reconciliation'sReconciliation• Oracle Receivables provides a comprehensive set of reports to

reconcile your outstanding customer balances, transactions, receipts and account balances.

• Outstanding customer balances at the beginning of any period can be reconciled with the ending balances for that period, by generating various reports to show the activity against that customer during the period.

Print Transactions

Batch ProcessesAutoInvoice• AutoInvoice allows you to automatically import invoice information

from your other financial systems. You can integrate Oracle Receivables with existing applications, such as order entry. Foreach accounting period, import invoices from feeder systems, then review and print them.

AutoAccounting• AutoAccounting automatically creates your general ledger

accounting information –your Accounting Flexfields. You can easily set up Auto Accounting to create Accounting Flexfields in a way that meets your business requirements. Oracle Receivables provides efficient and effective control of your accounting information.

Integration to GL

Reports ( 1 of 2 )

Create accounting reports of agings, receipts, cash application, and adjustments

Create flexible agings, including: • Customizable aging buckets • Dispute bucket • Customer and invoice summary • By amount and salesperson

Reports ( 1 of 2 )

Additional reports: • Transaction registers • Tax reports • Credit and collections reports • Key indicators • Supplier/Customer Netting report • Foreign Exchange Gain/Loss report

Inquiries:• Customer Query• On-line Transaction Overview • On-line Receipt Inquiry• On-line Transaction History • On-line Customer Account Inquiry

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