HOW TO DEFINE TRANSACTION TYPES IN ORACLE RECEIVABLES
In this article, Mr Ahmad Bilal explains detailed steps to setup transaction type in Oracle Receivables.
Define the transaction types that we assign to invoices, debit memos, commitments, chargeback, credit memos, on–account credits, and bills receivable.
Oracle Receivables use transaction types to default payment term, account, tax, freight, creation sign, posting, and receivables information.
Oracle Receivable provides two predefined transaction types:
-
Invoice
-
Credit Memo.
We can create receivable transaction type by using following steps
-
Sign on to the application using Receivables Super user Responsibility.
-
Navigate to the Transaction Types Form
Setup / Transactions / Transaction Types
-
In operating Unit field by default current operating unit is populated Vision Operations
-
Enter a Name and Description for this transaction type.
Name: = XX Credit Memo
Description:-This is a Sample Credit Memo
-
Enter a Class for this transaction type.
Following are the seeded classes provided by oracle
-
Invoice
-
Chargeback
-
Credit Memo
-
Debit Memo
-
Deposit
-
Guarantee
In credit memo case I select Credit Memo
-
Open Receivable is set to Yes,
Receivables updates customer balances each time we create a complete debit memo, credit memo, chargeback,
or on-account credit with this transaction type. Receivables also include these transactions in the standard aging and collection processes.
-
Check the Post to GL box
To be able to post transactions with this type to general ledger.
The default is the value specified for the Open Receivables option. This box must be checked if the class is Deposit or Guarantee.
-
Choose Print. We can override this value when entering transactions in transaction window.
-
Choose Transaction Status of Open from open, Closed, Pending, or Void.
Use these statuses to implement our own invoice approval system. Enter 'Void' to void debit memos, on-account
credits or invoices to which we want to assign this transaction type.
-
Check the Allow Freight box.
Allow freight to be entered for transactions with this transaction type
-
Check the Tax Calculation box.
Receivables calculate tax for transactions with this transaction type.
If we do not check this box, the Tax Code field in the Lines window will not be required and Receivables
will not perform tax calculations or create tax accounting entries for transactions with this
transaction type (this is also applicable for transactions in Oracle Order Management).
-
Choose Creation Sign Negative.
The default is Positive Sign for transaction types with a class of either Guarantee or Deposit.
If we are using the Cash Basis accounting method, Transaction's creation sign must be Positive Sign, Negative Sign, or Any Sign.
We cannot update this field after entering transactions with this type.
-
Select the Natural Application Only check box. We cannot update this option after save this transaction type.
-
Enter the Receivable Account for transactions with this transaction type.
Receivables use this information, along with Auto Accounting definition, to determine the receivable accounts
for transactions with these types.
Receivables creates a receivables transaction record using this account so we can transfer to general ledger and
create a journal entry if Post To GL is Yes for this transaction type.
-
Enter receivable account “Accounts Receivable” .
Receivables does not require entering a Receivable account for Credit Memo transaction types if the profile option Use
Invoice Accounting for Credit Memos is set to YES otherwise, must enter a Receivable Account.
-
Enter a Freight Account for transactions with this transaction type.
Receivable uses this information, along with Auto Accounting definition, to determine the freight account for transactions with this transaction type.
-
Enter Revenue Account Receivables does not require to enter a Revenue Account for Credit Memo transaction
types if the profile option Use Invoice Accounting for Credit Memos is set to YES. Otherwise, must enter a Revenue Account.
-
As this is a credit memo so we need to define UNBILLED RECEIVABLE ACCOUNT.
Receivable uses this information, along with Auto Accounting definition, to determine the Unbilled Receivable
account for transactions with this transaction type.
Receivable only uses the Unbilled Account field to determine the Unbilled Receivable account for invoices with the rule Bill in Arrears.
-
Enter an Unearned Revenue Account. Receivable uses this information, along with Auto Accounting
definition, to determine the unearned revenue account for transactions with this transaction type.
Receivable only uses this account when transaction's invoicing rule is Bill In Advance.
-
Enter a Tax Account. Receivable uses this information along with Auto Accounting
definition to determine the tax account for transactions with this transaction type.
-
Save this credit memo transaction type now.
-
Navigate to the Transaction Form
Transaction Transactions
Look in above screen shot I have select XX Credit Memo Type
Apps2Fusion Articles 
Comments
giri_p2212
as per my view every apps consultant useful this site.
(Ohhh Great i never seend like this much of explanation,
it s very useful to me.)
it gives very very useful information to me., i think not only me all oracle apps consultants.
i sinceyarly thnks to anil Passi and his team
Long leave anil passi......
I am workig on Billing and Receiopt History Report. I need to raise an On Account Credit Transaction in AR. Can you please let me know whats the navigation.I am stuck here.
Thanx
Mu rali
I am workig on Billing and Receiopt History Report. I need to raise an On Account Credit Transaction in AR. Can you please let me know whats the navigation.I am stuck here.I need to fix a Problem
Thanx
Murali
thnx,
phili
Could you please explain the difference between the transaction types(Invoices, credit memo,debit memo etc) in oracle receivables.
Regards
Arun
I wish you a happy new year to you and your team.
Regards
S.Satish kumar
Sravanapatasatish
Can you please send/scrap me the types of errors that a financial consultant will have to encounter in the role of customer support job...
Thanks,
Rajeev
I am quite new to oracle financials and interested in OM and AR module. specially order to cash.
Just wondering what is the daily job task of AR functional consultant. Once the organization has implemented oracle 11i financial modules.
And the project is already go-live.
What task a Functional consultant will perform who knows AR, OM (order to cash). What is his role in daily task, month end task, and year end task.
Your valuable suggestion will be appriciated.
t hankyou
regard s
Arvin
immfinancial.com
platform are you using for this website? I'm getting tired of Wordpress because I've had problems with hackers and I'm looking at alternatives for
another platform. I would be awesome if you could point me
in the direction of a good platform.
found this web site as a finest site for newest updates.
out there right now. (from what I've read) Is that what
you are using on your blog?
RSS feed for comments to this post