RECEIVABLES RECEIV ABLES -1
01.Explain different types of transaction in Receivables. Invoice In Oracle Projects, a summarized list of charges, including payment terms, invoice item information, and other information that is sent to a customer for payment. Debit memos Debits that you assign to a customer to collect additional charges. For example, you may ant to charge a customer for unearned discounts ta!en, additional freight charges, taxes, or finance charges. Charge backs " ne debit item that you assign to your customer hen closing an existing, outstanding debit item.
#eceivables,, a document document that partially partially or fully fully reverses reverses an original original invoice. $ou $ou can Credit memo In Oracle #eceivables create credit memos in the #eceivables %redit &ransactions indo or ith "uto Invoice. Deposit " type of commitment hereby a customer agrees to deposit or prepay a sum of money for the future purchase of goods and services Garan Garantee tee " contractual obligation to purchase a specified amount of goods or services over a predefined period of time. 0!. "hat is #pplication Rle $et% #pplication Rle $ets
'se the "pplication #ules (ets indo to revie existing ex isting and define ne application rule sets. "pplication rule sets specify the default payment steps for your receipt applications and ho discounts affect the open balance for each type type of associ associate ated d charges charges.. )y defini defining ng you yourr on applicat application ion rule rule set, set, you can determ determine ine ho #eceivables reduces the balance due for a transaction*s line, line, tax, freight, and finance charges. #eceivable provides the folloing application rules+ &ine 'irst ( )ax )ax #fter* "pply to the open line item amount first. "pply any remaining amount in the folloing order+ tax, freight, and then finance charges. &ine 'irst ( )ax +rorate* "pply a proportionate amount to the open line item amount and the open tax amount for each line. "pply any remaining amount to freight and then to finance charges. +rorate #ll* "pply a proportionate amount to the line, tax, freight, and finance charges. )o define an application rle set*
. -avigate to the "pplication #ule (ets indo. . /nter a -ame and Description for this rule set. 0. /nter the (e1uence number for this application rule. #eceivables apply payments pa yments in this se1uence, beginning ith the loest se1uence number.
1 Of 13
RECEIVABLES -1
,ote* $ou cannot enter a se1uence number for the Over application rule. )y default, this rule is last in the se1uence for each application rule set.
2. /nter an application #ule. /ach rule ill correspond to a line type 3for example, lines, freight, or charges4, so you should give your rule a descriptive name. /ach rule set must have at least one application rule. #ttention* #eceivables automatically assigns the Over application rule to each application rule set. $ou cannot delete this rule. &he Over application rule applies any remaining amount after the balance due for each item has been reduced to zero. If the transaction type of the debit item allos over application, this rule prorates the remaining amount beteen each line and its associated tax amount, ma!ing these amounts negative. If the transaction type does not allo over application, either you can place the remaining amount on5account or leave it *'napplied*.
6. /nter #ule Details for this application rule. &his section indicates the type of charges and the tax handling for this rule. %hoose a &ype of 7ine, Freight, or %harges. $ou need to enter at least one type for your rule set. 8. If you chose a &ype of *7ine*, choose a &ax &reatment. %hoose one of the folloing+ +rorate* %hoose this option to proportionately reduce the net amount of the line and associated tax amounts. -efore* %hoose this option to first reduce the open tax amount, then apply any remaining amount to the line. #fter* %hoose this option to reduce the open line amount, then apply any remaining amount to the associated tax. ,ote* &he default &ax &reatment for your Freight and %harges types is -one. &his option ignores tax, since you cannot tax freight and charges in #eceivables. $ou cannot choose -one for your 7ine type.
9. &o automatically adjust this line type to account for any rounding corrections ithin this rule set, chec! the #ounding %orrection box. :hen an amount is prorated among several line types, #eceivables must use one of the line types to account for the rounding adjustment. /ach application rule set must have one and only one rounding correction line type. $ggestion* "ssign the #ounding %orrection to the line type that is usually the largest portion of your invoices. )y doing this, the rounding correction ill have the least effect on the overall remaining and applied amounts for this line type. ;. #epeat the previous steps for each rule you ant to add to this rule set. <. (ave your or!. =. :hen you are satisfied ith this rule set definition, chec! the Freeze box. #eceivables verify that your application rule set is defined properly and that it does not violate any basic application guidelines. If this rule set fails validation, #eceivables displays an error message. In this case, modify your rule set definition, and then chec! the Freeze box again to revalidate it. #ttention* " rule set must be *frozen* before you can assign it to a transaction type or use it as your default rule it in the (ystem Options indo. "dditionally, after you freeze an application rule set, you cannot update or delete it. 0. Explain #to #cconting.
Define "uto "ccounting to specify ho you ant #eceivables to determine the general ledger accounts for transactions that you enter manually or import using "uto Invoice. #eceivables create default accounts for 2 Of 13
RECEIVABLES -1
revenue, receivable, freight, tax, unearned revenue, unbilled receivable, finance charges, bills receivables accounts, and "uto Invoice clearing 3suspense4 accounts using this information. :hen you enter transactions in #eceivables, you can override the default general ledger accounts that "uto "ccounting creates. $ou can control the value that "uto "ccounting assigns to each segment of your "ccounting Flex field, such as %ompany, Division, or "ccount. $ou must define "uto "ccounting before you can enter transactions in #eceivables. $ggestion* If you use the multiple organization support feature, you can set up "uto "ccounting to derive the Product segment of your #evenue account based on inventory items. &o do this, define the Product segment of your #evenue account to use (tandard 7ines and specify a :arehouse ID hen entering transactions. )o define #to #cconting*
. -avigate to the "utomatic "ccounting indo. . /nter the &ype of account to define. %hoose from the folloing+ #to Invoice Clearing* &he clearing account for your imported transactions. #eceivables use the clearing account to hold any difference beteen the specified revenue amount and the selling price times the 1uantity for imported invoice lines. #eceivables only use the clearing account if you have enabled this feature for the invoice batch source of your imported transactions. -ills Receivable* &he bills receivable account for your transaction. #eceivables use this account hen you exchange transactions for bills receivable. 'actored -ills Receivable* &he factored bills receivable account for your bills receivable transactions. 'reight* &he freight account for your transaction. Receivable* &he receivable account for your transaction. Remitted -ills Receivable* &he remitted bills receivable account for your bills receivable transactions. Revene* &he revenue and finance charges account for your transaction. )ax* &he tax account for your transaction. /nbilled Receivable* &he unbilled receivable account for your transaction. #eceivables use this account hen you use the )ill In "rrears invoicing rule. If your accounting rule recognizes revenue before your invoicing rule bills it, #eceivables uses this account. /nearned Revene* &he unearned revenue account for your transaction. #eceivables use this account hen you use the )ill In "dvance invoicing rule. If your accounting rule recognizes revenue after your invoicing rule bills it, #eceivables uses this account. /npaid -ills Receivable* &he unpaid bills receivable account for your bills receivable transactions.
0. For each segment, enter either the table name or constant value that you ant #eceivables to use to get information. :hen you enter an account &ype, #eceivables displays all of the segment names in your "ccounting Flexfield (tructure. (egments include such information as %ompany, Product, Department, "ccount, and (ub5"ccount. #eceivable lets you use different table names for different accounts. %hoose one of the folloing table names+ -ill to $ite* 'se the bill5to site of the transaction to determine this segment of your revenue, freight, receivable, "uto Invoice clearing, tax, unbilled receivable, and unearned revenue account. Draee $ite* 'se the draee site table to determine this segment of your bills receivable, factored bills receivable, and remitted bills receivable, and unpaid bills receivable account.
3 Of 13
RECEIVABLES -1
Remittance -anks* 'se the remittance ban!s table to determine this segment of your factored bills receivable and remitted bills receivable account. $alesperson* 'se the salesperson*s table to determine this segment of your revenue, freight, receivable, "utoInvoice clearing, tax, unbilled receivable, and unearned revenue account. If you choose this option for your "utoInvoice clearing, tax, or unearned revenue accounts, #eceivables uses the revenue account associated ith this salesperson. If you choose this option for your unbilled receivable account, #eceivables uses the receivable account associated ith this salesperson. If the transaction has a line type of >7I-/> ith an inventory item of freight 3>F#&>4, "uto"ccounting uses the accounting rules for the freight type account rather than the revenue type account. $tandard &ines* 'se the standard memo line or inventory item on the transaction to determine this segment of your revenue, "utoInvoice clearing, freight, tax, unbilled receivable, and unearned revenue account. If you choose this option for your "utoInvoice clearing, freight, tax, unbilled receivable or unearned revenue accounts, #eceivables uses the revenue account associated to this standard memo line item or inventory item. If the transaction has a line type of >7I-/> ith an inventory item of freight 3>F#&>4, "uto"ccounting uses the accounting rules for the freight type account rather than the revenue type account. )axes* /nter this option to use tax codes hen determining your tax account. )ransaction )ypes* 'se the transaction types table to determine this segment of your revenue, freight, receivable, "utoInvoice clearing, tax, unbilled receivable, and unearned revenue account, and of your bills receivable, factored bills receivable, remitted bills receivable, and unpaid bills receivable account. If the transaction has a line type of >7I-/> ith an inventory item of freight 3>F#&>4, "uto"ccounting uses the accounting rules for the freight type account rather than the revenue type account.
2. If you did not enter a &able -ame, enter a %onstant value for this segment, or select one from the list of values. /nter a %onstant value if you ant "uto"ccounting to alays use the same value for this "ccounting Flexfield segment. )e sure to enter information that is valid for this segment. For example, if you defined your %ompany flexfield segment as a to5character segment ith valid values ranging from == to =, you must enter a to5character value ithin this range. 6. (ave your or!. . "hat is #to Cash Rle $et%
Define "uto %ash #ule (ets to determine the se1uence of "uto %ash #ules that Post ?uic! %ash uses to update your customer*s account balances. $ou specify the se1uence and the "uto %ash #ules for each "uto %ash #ule (et. &he "uto %ash #ule (ets you define display as list of values choices in the %ustomers, %ustomer "ddresses, %ustomer Profile %lasses, and the (ystem Options indos. Post ?uic! %ash first chec!s the customer site, then the customer profile class, and finally at the system options level to determine the "uto %ash #ule (et to use. #eceivable provides a default "uto%ash #ule (et hen you assign a customer to a credit profile, but you can modify individual "uto%ash #ule (et assignments at both the customer and customer site levels. If you do not assign an "uto%ash #ule (et to a customer*s credit profile, and you enter a receipt for this customer, #eceivables uses the "uto%ash #ule (et that you entered in the (ystem Options indo along ith the number of Discount @race Days you specified in this customer*s credit profile to apply the receipt. If you assign an "uto%ash #ule (et to a customer, but none of the "uto%ash #ules apply, #eceivables places the remaining amount 'napplied or On5"ccount, depending on ho you set the #emaining #emittance "mount option for the rule set. 4 Of 13
RECEIVABLES -1
If you have set up your system to use ban! charges and a tolerance limit, Post ?uic!%ash ill also consider these amounts if the current "uto%ash rule fails 3this is true for all rules except *"pply to the Oldest Invoice First*4. If it finds a match, Post ?uic!%ash applies the receiptA otherise, it loo!s at the next rule in the se1uence. $ou can disable an existing "uto%ash #ule (et by changing its status to Inactive and then saving your or!. +rere2isites
Define system options )o define an #toCash Rle set*
. -avigate to the "uto%ash #ule (ets indo. . /nter the -ame of this "uto%ash rule set. 0. /nter a description for this "uto%ash rule set 3optional4. 2. /nter the type of Discount you ant to automatically give to your customer for this "uto%ash #ule (et. %hoose one of the folloing Discount options+ Earned 3nly* $our customer can ta!e earned discounts according to the receipt terms of sale. $ou negotiate earned discount percentages hen you define specific receipt terms. $ou can enter this option if "llo 'nearned Discounts is set to yes in the (ystem Options indo. In this case, #eceivables only allos earned discounts for this "uto%ash #ule (et. Earned and /nearned* $our customer can ta!e both earned and unearned discounts. "n unearned discount is one ta!en after the discount period passes. $ou cannot choose this option if the system option 'nearned Discounts is set to -o. ,one* $our customer cannot ta!e discounts 3this is the default4.
6. &o include transactions in dispute hen calculating your customer*s open balance, chec! the Items in Dispute chec! box. 8. &o include finance charges hen calculating your customer*s open balance, chec! the Finance %harges chec! box. 9. Define the "utomatic Batching #ule for this "uto%ash #ule set. ;. If this rule set ill include the "pply to the Oldest Invoice First rule, choose ho you ant to apply any #emaining #emittance "mount. #eceivables uses this value to determine ho to enter the remaining amount of the receipt if none of the "uto%ash #ules ithin this rule set apply. %hoose *'napplied* to mar! remaining receipt amounts as 'napplied. %hoose *On5"ccount* to place remaining receipt amounts On5"ccount. <. &o automatically apply partial receipts hen using the "pply to the Oldest Invoice First rule, chec! the "pply Partial #eceipts chec! box. " partial receipt is one in hich the receipt minus the applicable discount does not close the debit item to hich this receipt is applied. &he applicable discount that #eceivables uses for this rule depends upon the value you entered in the Discounts field for this "uto%ash #ule (et. If you exclude finance 5 Of 13
RECEIVABLES -1
charges 3by setting Finance %harges to -o4 and the amount of your receipt is e1ual to the amount of the debit item to hich you are applying this receipt minus the finance charges, #eceivables defines this receipt as a partial receipt. In this case, #eceivables does not close the debit item because the finance charges for this debit item are still outstanding. If "pply Partial #eceipts is set to -o, this "uto%ash #ule (et ill not apply partial receipts and ill either mar! the remaining receipt amount *'napplied* or place it on5account, depending on the value you entered in the #emaining #emittance "mount field. =. /nter a (e1uence number to specify the order of each rule in this "uto%ash #ule (et 3optional4. #eceivables uses the rule assigned to se1uence , then se1uence , and so on hen applying receipts using this "uto%ash #ule (et. . /nter one or more "uto%ash #ules for this "uto%ash rule set. %hoose from the folloing "uto%ash rules+ #pply to the 3ldest Invoice 'irst* &his rule matches receipts to debit and credit items starting ith the oldest item first. &his rule uses the transaction due date hen determining hich transaction to apply to first. &his rule uses the values you specified for this "uto%ash #ule (et*s open balance calculation to determine your customer*s oldest outstanding debit item.
Post ?uic!%ash uses the next rule in the set if any of the folloing are true+ 5 all of your debit and credit items are closed 5 the entire receipt amount is applied 5 it encounters a partial receipt application and "llo Partial #eceipts is set to -o for this "uto%ash #ule (et 5 the next oldest debit item includes finance charges and Finance %harges is set to -o for this "uto%ash #ule (et &his rule mar!s any remaining receipt amount *'napplied* or places it on5account, depending on the value you entered in the #emaining #emittance "mount field for this "uto%ash #ule set Clear the #ccont* Post ?uic!%ash uses this rule only if your customer*s account balance exactly matches the amount of the receipt. If the receipt amount does not exactly match this customer*s account balance, Post ?uic!%ash uses the next rule in the set. &his rule calculates your customer*s account balance by using the values you specified for this "uto%ash #ule (et*s open balance calculation and the number of Discount @race Days in this customer*s profile class. &his rule also includes all of this customer*s debit and credit items hen calculating their account balance. &his rule ignores the value of the "pply Partial #eceipts option. &his "uto%ash #ule uses t he folloing e1uation to calculate the open balance for each debit item+ 3pen -alance 4 3riginal -alance 5 'inance Charges ( Discont #eceivables then add the balance for each debit item to determine the customer*s total account balance. &he *%lear the "ccount* rule uses this e1uation for each invoice, chargebac!, debit memo, credit memo, and application of an 'napplied or On5"ccount receipt to a debit item. ,ote* &he discount amount for each item depends upon the payment terms of the item and the value of the Discounts field for this "uto%ash #ule (et. &he number of Discount @race Days in this customer*s credit profile, along ith the payment terms assigned to their outstanding invoices, determine the actual due dates of each debit item. Clear +ast De Invoices* &his rule is similar to the *%lear the "ccount* rule because it applies the receipt to your customer*s debit and credit items only if the total of these items exactly matches the amount of this receipt. 6 Of 13
RECEIVABLES -1
Coever, this rule only applies the receipt to items that are currently past due . " debit item is considered past due if its due date is earlier than the receipt deposit date. &his rule considers credit items 3i.e. any pre5existing, unapplied receipt or credit memo4 to be past due if the deposit date of the receipt is either the same as or later than the deposit date of this pre5existing receipt or credit memo. In this case, this rule uses a pre5existing receipt or credit memo before the current receipt for your "uto%ash receipt applications. If this "uto%ash #ule (et*s open balance calculation does not include finance charges or disputed items, and this customer has past due items that are in dispute or items ith balances that include finance charges, this rule ill not close these items. &his rule ignores the value of the "pply Partial #eceipts option. Clear +ast De Invoices Groped by +ayment )erm* &his rule is similar to the *%lear Past Due Invoices* rule, but it first groups past due invoices by their payment term, and then uses the oldest transaction due date ithin the group as the group due date.
:hen using this rule, #eceivables can only apply the receipt if the receipt amount exactly matches the sum of your customer*s credit memos and past due invoices. " debit item is considered past due if the invoice due date is earlier than the deposit date of the receipt you are applying. For credit memos, #eceivables uses the credit memo date to determine hether to include these amounts in the customer*s account balance. For example, if you are applying a receipt ith a receipt date of =5"-5<0, credit memos that have a transaction date 3credit memo date4 on or earlier than =5"-5<0 ill be included. %redit memos do not have payment terms, so they are included in each group. 6atch +ayment ith Invoice* &his rule applies the receipt to a single invoice, debit memo, or chargebac! that has a remaining amount due exactly e1ual to the receipt amount. &his rule uses the values that you enter for this "uto%ash #ule (et*s open balance calculation to determine the remaining amount due of this customer*s debit items. For example, if Finance %harges is -o for this rule set and the amount of this receipt is e1ual to the amount due for a debit item minus its finance charges, this rule applies the receipt to that debit item. If this rule cannot find a debit item that matches the receipt amount, Post ?uic!%ash loo!s at the next rule in the set. &his rule ignores the value of the "pply Partial #eceipts option.
. (ave your or!. 07."hat are the mandatory fields in cstomer profile class%
%ollector 08.&ist the 9ey flexi ('ields in Receivables
(ales &ax 7ocation Flexfield &erritory Flexfield 0:.&ist some of the +rofile Class #mont limits
Finance %harges Interest #ate Bax Interest Per Invoice Binimum %ustomer )alance for Finance %harges Binimum Invoice )alance for finance %harges 7 Of 13
RECEIVABLES -1
Binimum receipt "mount Binimum (tatement "mount Bin Dunning "mount Bin Dunning Inv "mount %redit 7imit Order %redit 7imit 0;. "hat is the Defalt
#eceivables uses the folloing hierarchy to determine the default payment term for your transactions, stopping hen one is found+ . )ill5to site . %ustomer "ddress 0. %ustomer 2. &ransaction &ype 0=.st an on #ccont Credit memo ith in invoice.
#egular credit memos ill not be posted, as no cash is exchanged. &herefore, if you use credit memos, ensure that the accounts on the credit memo are the same as those on the invoices associated ith the credit memos. $ou can achieve this by setting your profile option "#+ 'se Invoice "ccounting For %redit Bemos to $es. "n on5account credit ill be posted hen it is applied to an invoice or combined ith a cash receipt. %onsider the journal entries created in the folloing instances+ "n on5account credit is issued. -o journal entry is created. &he on5account credit is applied to an invoice for E==. &his table shos the journal entries that are created+
Instead of applying the on5account credit memo to an invoice, the user combines it ith a cash receipt of E==. 8 Of 13
RECEIVABLES -1
&his table shos the journal entries that are created+
)y applying the on5account credit to a cash receipt, the available unapplied cash balance is increased from E== to E0==. &he user applies the E0== unapplied cash balance to an invoice. &his table shos the journal entries that are created+
10."hat Is the Relevance of ?3pen Receivables@ in )ransaction )ype%
If Open #eceivable is set to $es, #eceivables updates your customer balances each time you create a complete debit memo, credit memo, chargebac!, or onaccount credit ith this transaction type. #eceivables also include these transactions in the standard aging and collection processes. If you are defining a GvoidG transaction type, set Open #eceivable to -o. $ggestion* $ou can use the Open #eceivable option to implement an approval cycle for any temporary or preliminary debit memos, credit memos, onaccount credits, chargebac!s, and invoices that you may use in your business. For particularly sensitive debit memos, credit memos, onaccount credits, chargebac!s, and invoices that you may ant to revie, you can define a transaction type called Preliminary ith Open #eceivable set to -o. &his transaction type does not update your customer balances. :hen you revie and approve the item, you can then change the transaction type to Final 3a transaction type that you define ith Open #eceivable set to $es4 hich ill update your customerGs balances. 11."hat do yo nderstand by ?Creation $ign@ in )ransaction )ype% Can e over ride creation $ign%
%hoose a %reation (ign. &he default is Positive (ign for transaction types ith a class of either @uarantee or Deposit. If you are using the %ash )asis accounting method, your transactionGs creation sign must be either 9 Of 13
RECEIVABLES -1
Positive (ign, -egative (ign, or "ny (ign. $ou cannot update this field after you enter transactions ith this type. 1!."hat is the difference beteen Deposit and Garantee% "rite the acconting entries for both. Deposit " type of commitment hereby a customer agrees to deposit or prepay a sum of money for the future purchase of goods and services Garantee " contractual obligation to purchase a specified amount of goods or services over a predefined period of time. Deposits
:hen you enter a deposit, #eceivables creates the folloing journal entry+ D# #eceivables 3Deposit4 %# #evenue
HHH HHH
:hen you enter an invoice against this deposit, #eceivables creates the folloing journal entries+ D# #eceivables 3Invoice4 HHH %# #evenue HHH %# &ax 3if you charge tax4 HHH %# Freight 3if you charge freight4 HHH D# 'nearned #evenue %# #eceivables 3Invoice4
HHH HHH
:hen you apply an invoice to a deposit, #eceivables creates a receivable adjustment against the invoice. #eceivables use the account information you specified in your "uto"ccounting structure to create these entries. :hen cash is received against this deposit, #eceivables creates the folloing journal entry+ D# %ash HHH %# #eceivables 3Deposit4 HHH Garantees
:hen you enter a guarantee, #eceivables creates the folloing journal entry+ D# 'nbilled #eceivables HHH %# 'nearned #evenue HHH :hen you enter an invoice against this guarantee, #eceivables creates the folloing journal entry+ D# #eceivables 3Invoice4 %# #evenue %# &ax 3if you charge tax4
HHH HHH HHH 10 Of 13
RECEIVABLES -1
%# Freight 3if you charge freight4 D# 'nearned #evenue %# 'nbilled #eceivables
HHH
HHH HHH
:hen you apply an invoice to a guarantee, #eceivables creates a receivable adjustment against the guarantee. #eceivables uses the account information you specified in your "uto"ccounting structure to create these entries. :hen cash is received against this guarantee, #eceivables creates the folloing journal entry+ D# %ash HHH %# #eceivables 3Invoice4 HHH 1."hat do yo nderstand by dispte amont in #R% Dispte #mont* &he current amount of this invoice, debit memo, or chargebac! that is in dispute. #eceivables sums up the dispute amounts for each installment of your payment schedule and display the total in this field. $ou can either increase or decrease the dispute amount. If you enter = 3zero4, the debit item is no longer in dispute. If your debit item does not have split terms, then you can enter a dispute amount that is beteen zero and the balance due for this item.
$ou can also place a debit item in dispute in the %ustomer %alls indo, and revie your in dispute debit items in the Disputed Invoice #eport. For debit items ith split terms, you can enter the dispute amount for each installment in the Installments indo or you can set it to either the balance due or zero in this field. 1.Can e define proximal payment terms in Receivables%
$es, proxima payment terms a payment term you define for invoices due on the same day each period, such as your credit card or telephone bills. :hen you define a proxima payment term, you specify a cutoff day and the day of month due. &his type of payment term is also used ith consolidated billing invoices. 17. Explain the -elo Concepts* $tandard 6emo &ines
" type of line that you assign to an invoice hen the item is not an inventory item 3for example, *%onsulting (ervices*4. $ou define standard memo lines to speed data entry hen creating your transactions )ransaction $orce
)atch sources control the standard transaction type assigned to a transaction and determine hether #eceivables automatically numbers your transactions and transaction batches. "ctive transaction batch sources appear as list of values choices in the &ransactions, &ransactions (ummary, and %redit &ransactions indos, and for bills receivable in the )ills #eceivable and )ills #eceivable &ransaction )atches indos.
11 Of 13
RECEIVABLES -1
$ou can define to types of transaction batch sources+ o
o
6anal* 'se manual batch sources ith transactions that you enter manually in the &ransactions and &ransactions (ummary indos, and for bills receivable transactions. Imported* 'se imported batch sources to import transactions into #eceivables using "utoInvoice.
$ou can ma!e a batch source inactive by unchec!ing the "ctive chec! box and then saving your or!. #eceivables does not display inactive transaction batch sources as list of values choices or let you assign them to your transactions. 'se transaction types to define the accounting for the debit memos, credit memos, on5account credits, chargebac!s, commitments, invoices, and bills receivable you create in #eceivables. &ransaction types also determine hether your transaction entries update your customers* balances and hether #eceivables posts these transactions to your general ledger Cstom #rchitectre
Party "ccount (ite It is at higher level i.e. It represents the customer ID or It refers to the place of operation organization or business group account number that is used of the customer and the purpose3s4 of the siteplace i.e. billing, shipping, statement etc. Dnning &etters
" letter that you send to customers to inform them of past due debit items. #eceivables let you specify the text and format of each letter and hether to include unapplied and on5account payments. $plit )erm 6ethod
If you are crediting a transaction that has multiple installments, choose one of the folloing (plit &erm Bethods+ 'irst in 'irst 3t A'I'3B* &his method credits the first installment first. &ast In 'irst 3t A&I'3B* &his method credits the last installment first. +rorate* &his method credits the installments of the credited transaction and prorates them based on the amount remaining for each installment.
12 Of 13
RECEIVABLES -1
13 Of 13
