This Post Is Exclusively Shared by Mr. Sidhartha Anireddy (Oracle Finance Expert)
This Post Is Exclusively Shared by Mr. Sidhartha Anireddy (Oracle Finance Expert)
This Post Is Exclusively Shared by Mr. Sidhartha Anireddy (Oracle Finance Expert)
This post is exclusively shared by Mr. Sidhartha Anireddy (Oracle Finance expert).
Setups Overview
1 2 3 4 5 6 7 The following setups are required for the purpose of being able to create a Prepayment Receipt for a customer from Order Management. Update OM System Parameters Define Customer Bank Account Define New Payment Method (Optional) Define Receivable Activity Define Payment Terms Assign Bank Account to Customer Site Define/Assign Document Sequences
(c) Click on Bank Accounts and assign an internal bank account. The effective dates in the bank account default to the current system date. If you are entering back dated transactions when testing please ensure that this date is changed accordingly. Enter all the required information if it does not default from Bank Account Setup. Please refer the below screen shot.
(a) (b)
(f) Sequence Enter the name of the sequence that would be generating numbers for your payment method. Please refer to the below screen shots. Document Sequence Assignment Document Tab
Process Steps
1. Enter and Book Order
Navigation > Order Management Super User > Orders, Returns > Sales Order Enter the following information to create and book the order:(a) Customer Name Enter the name of the customer for whom the bank account was assigned in the setups. (b) Navigate to Other tab on Order Header and change the payment term to the new payment defined in #5 above. (c) Enter the order lines and book the order.
3. Ship Order
Navigation > Order Management Super User > Release Sales Order > Release Sales Order. Enter the sales order number which has to be released. After releasing the sales order ship confirm and submit the workflow background process to interface Order to Receivables. From Receivables responsibility submit the Autoinvoice program for the order. The Prepayment Matching Program (Prepayments Matching Program) will automatically get fired. This program applies the prepayment receipt to the invoice that gets created by Autoinvoice program. Receipt Accounting Entries when the Receipt is created. Cash A/c Unapplied Receipts A/c Unapplied Receipts A/c Prepayment A/c Dr. Cr. Dr. Cr.
Accounting Entries when the receipt is applied to an Invoice by the Prepayment Matching Program. Prepayment A/c Unapplied Receipts A/c Unapplied Receipts A/c Receivables A/c Dr. Cr. Dr. Dr.