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HOW TO DEFINE TRANSACTION TYPES IN ORACLE RECEIVABLES | Print |  E-mail
Written by Ahmad   
Friday, 27 July 2007
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:


  1. Invoice

  2. Credit Memo.


We can create receivable transaction type by using following steps


  1. Sign on to the application using Receivables Super user Responsibility.


  1. Navigate to the Transaction Types Form

Setup / Transactions / Transaction Types


  1. In operating Unit field by default current operating unit is populated Vision Operations


  1. Enter a Name and Description for this transaction type.



Name: = XX Credit Memo

Description:-This is a Sample Credit Memo


  1. Enter a Class for this transaction type.


Following are the seeded classes provided by oracle

  1. Invoice

  2. Chargeback

  3. Credit Memo

  4. Debit Memo

  5. Deposit

  6. Guarantee


In credit memo case I select Credit Memo


  1. 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.



  1. 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.






  1. Choose Print. We can override this value when entering transactions in transaction window.


  1. 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.


  1. Check the Allow Freight box.

Allow freight to be entered for transactions with this transaction type


  1. 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).


  1. 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.

  1. Select the Natural Application Only check box. We cannot update this option after save this transaction type.

  1. 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.

 

  1. 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.



  1. 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.



  1. 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.


  1. 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.


  1. 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.


  1. Enter a Tax Account. Receivable uses this information along with Auto Accounting
    definition to determine the tax account for transactions with this transaction type.


  1. Save this credit memo transaction type now.



  1. Navigate to the Transaction Form

Transaction  Transactions




Look in above screen shot I have select XX Credit Memo Type

Comments (13)add
...
written by srikanth , August 08, 2007
thanks for the valuable resources...thank you very much
...
written by Giri p , September 07, 2007
thank u ...ur document is very helpful..... can u mail me some more docs related to oracle receivables technical

giri_p2212@yahoo.co.in
...
written by srinivasM , September 15, 2007
it is an excellent screenshot, can u pls help me in creation of grouping rules and line order rules
...
written by Dinesh.Jonna , September 16, 2007
Hi Anil Passi U r doing a wonderful job,
as per my view every apps consultant useful this site.
(Ohhh Great i never seend like this much of explanation,
its very useful to me.)

...
written by Dinesh.J , September 18, 2007
Hi., Great wishes to anil passi ., to strat this site .
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......
...
written by Muralidhar , September 21, 2007
Hi Anil,

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
Murali
...
written by Muralidhar , September 21, 2007
Hi Anil,

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
...
written by phili , December 13, 2007
Images are not getting displayed can you please repost the topic, thnks anil the articles u posted are very helpful

thnx,
phili
I want to know How the debit note and credit note works in Accounting....
written by Raghavendra PM , December 18, 2007
pls send to my E-Mail ID and Images are not getting displayed
functionality of Transaction types
written by arun , December 26, 2007
Hi Anil,

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
written by satish , January 02, 2008

Hi Anil,

I wish you a happy new year to you and your team.

Regards
S.Satish kumar
Sravanapatasatish@gmail.com


What are the common errors to be handled by Financil functional Consultant in the role of customer support job
written by Rajeev Ranjan , January 12, 2008
Hi Al,

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
How to convert Account Values from Legacy to Oracle Apps Base Table
written by manikandan , January 25, 2008
While converting Account values from Legacy to Oracle Apps Base Table the segment qualifiers ie.,allow budgeting allow posting,Account Type,Third party control,Reconcile flags are not inserting.Can You please guide how to do this.
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