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Oracle Receivables An Overview

Day 1

Agenda
Order to Cash lifecycle overview Overview of Receivables Process

Setups
Manage Parties and Customer accounts Process Invoice and Auto Invoicing

Process Receipts and Manual receipts


Period Close Process

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Order to Cash lifecycle overview

Copyright 2006 Deloitte Development LLC. All rights reserved.

Order to Cash Lifecycle


Order Management Shipping Execution

Enter

Book

Pick Release

Ship Confirm

AutoInvoice Receivables Cash Management

Invoice

Receipt

Bank Reconciliation

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Order to Cash Lifecycle


Ordering:
Entering the order, pricing the order, booking the order, scheduling (which can include checking ATP, placing demand, and reserving on-hand Inventory), running pick release, and shipping the order.

Collecting:

Running AutoInvoice, generating invoices, collection efforts, and receipt of payments.

Accounting:

Receipt information which is available to be used by Cash Management to reconcile the bank statement and transferring accounting information to the General Ledger.

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Integration with other applications


Customer Customer Master

ORDER
MANAGEMENT

Orders

CRM Suite

Pricing
Inventory Item Information Shipping Accounting Invoices

Accounting General Ledger Receivables

Receipts
management

Cash

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Order Management Process


Orders can be created from a number of different sources. New orders can be created by entering the information or by copying existing orders. It can also be brought from EDI, CRM, and other interfaces Import from *CRM or other systems EDI Order Import

Enter order or return online

Copy an order or return

*Customer Relationship Management includes: iService, iStore, Teleservice, Telesales, Sales Online, iSupport

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Pricing Process & Shipping Process


Pricing Process The pricing engine supplies the initial unit price from a price list or customer agreement. It will also apply any modifiers for which the order qualifies. Modifiers can either raise or lower the initial unit price. They can be set to be applied manually or automatically. They can also be set to only be applied after certain events like saving, booking, or shipping. Entered order line Price list or agreement Unit price

Modifiers

Shipping Process When the item is ready, it is pick released. This creates the move order which can automatically detail where to get the item. The items are brought from Inventory to the staging area. The pick confirmation process in the system can automatically occur when you run pick release. Once the items are loaded on the truck from the staging area you can run the ship confirm process. When you run the ship confirm process the system can decrement Inventory and update the sales order. The information can then be transferred through AutoInvoice to Receivables for invoicing the customer.
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AutoInvoice Process
AutoInvoice Process Invoice data can be sourced from a number of locations for example: Order Management, Contracts or legacy systems. When the data is brought into the Interface Tables, errors are pushed to the Interface Exceptions Table to be corrected. Correct data gets pushed into Receivables as invoices. AutoInvoice Exceptions: Errors are sent to the Interface Exceptions Table where they can be corrected. Once the lines are corrected, AutoInvoice can be rerun and invoices created from the corrected lines.

Invoice Data

Interface Tables

Invoices

Corrected Records

Interface Exceptions

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Receivables Process

Imported Invoices & Manually created Invoices

Review and Correct Data

Print Invoices

Post Receipts

Collect Payments

Send Invoices

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Cash Management Process


The final step of the process is to post entries to the General Ledger. The entries travel from Cash Management to Receivables and then to the General Ledger.

Receive Bank Statement

Load and Verify Bank Statement

Perform Reconciliation

Post to General Ledger

Enter Manual Entries

Review Results

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Receivables overview

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Receivables Overview in Order to Cash Process


The transactions are created either by importing them or by manually creating them. The transactions can then be reviewed and corrected before being completed. Once completed, they are ready to be printed and sent to the customer for payment. However, there is a system option Allow Changes to Printed Transactions, which will allow the correction of printed transactions as well. Then the transactions go through the collection process. Once collected, the receipts are enter and applied. The transactions can be transferred to the General Ledger once they are completed. Finally, the receipts can be transferred once they are completely entered. Transactions Review and Correct Data Print and Send Invoices

Transfer to General Ledger

Enter Receipts

Collect Payments

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Overview of Receivables Integration


Inventory Item Information Orders & Shipment Order Management

Legacy

Orders

Receivables

Contracts

Service

General Ledger

Accounting Leasing

Receipts

Cash Management

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Overview of the Transaction Process


Transactions can be copied in Receivables. A standard transaction would follow the path of being reviewed, corrected, completed, printed, and sent to the customer. A receipt would be entered against the transaction. The accounting information would be transferred to the General Ledger after the transaction was completed. Standard Transaction

Copy
Review and make corrections

Valid transaction

Invalid transaction

Complete, print and send to customer

Void

Delete

Enter receipt

Interface to General Ledger


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Overview of Other Invoice Operations


You can use an invoice to make copies. This process can be applied for invoices which will be the same over a period of time. Invoices can be created with or without rules. Invoices with rules can be imported or manually created. The accounting rule indicates when revenue recognition should take place. The invoicing rule indicates whether to bill in advance (the first period) or to bill in arrears (the last period).

Original Invoice

Invoice with Rules

Invoice Copies

Accounting Rules

Invoice Rules

Installments

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Overview of Adjustments
Adjustments are entered into the system and proceed through a validation process before being approved. Adjustments can increase or decrease the remaining balance. Each user can have a different approval limit. If the adjustment is within the approval limit it is automatically approved. If it exceeds the approval limit it is placed in a pending status until approved by a user with the appropriate approval limit.

Adjustment entry

Approval limit $500

Validation process

Approved or Pending

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Overview of Credit Memos


You use the Credit Transactions window to enter, update, and review credit memos against specific invoices, debit memos, or commitments. You create credit memos to reduce the balance due for a transaction. When you credit a transaction, Receivables creates the appropriate accounting entries and reverses any sales credit assigned to your salespeople. Receivables lets you credit an entire invoice or specific invoice lines. Enter Credit Transactions Update Review Credit memos

Invoices

Debit memos

Commitments

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Overview of Receipts and Remittances


Receipts can be entered in one of three ways: Manual: Which includes cash and miscellaneous receipts. QuickCash: Which includes cash and AutoLockbox. Automatic: Which includes credit cards, bills of exchange, direct debits, and ACH bank account transfers. Remittances are a group of receipts remitted to the same bank and bank account, similar to bank deposit tickets. Enter Receipts and Remittances Apply to invoice or customer account Update customer balance

Transfer to General Ledger Reverse or Reapply

Reconcile

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Overview of Collections
Identify past due items by reviewing information online and printing collections reports. Contact the customer by sending statements, dunning letters or by a telephone call. Record the customer contact activity and resolve any disputed items. Apply adjustments and record bad debt

Identify past due items

Contact customer

Record activity

Record bad debt

Apply adjustments

Resolve disputed items

Record receipts

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Setups

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Required Setup Steps for Transactions


Before you can use customer invoices, the following must be set up: Customers: Define Customers including Bill To and Ship To address for transaction processing. Receivables Transaction Types: Assign to transactions. Transaction types add default information to the transactions.. AutoAccounting: Specifies the General Ledger accounts of transactions that you enter manually or import using AutoInvoice. Payment Terms: Determine the payment schedule and cash discount information for customer invoices, debit memos, and commitments. Transaction Sources: Assign to transactions to control transaction and batch numbering and provide default information. Remit-to addresses: Informs customers where to send payments. System and Profile Options: Provides default values for some Receivables operations, such as how Receivables processes data and controls the actions users can perform.

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Receivables Transaction Types


Receivables, Vision Operations (USA) (N) > Setup > Transactions > Transaction Types You must set up transaction types before you can enter invoices.

Transaction Type determines: If the transaction can be posted to the General Ledger (GL). If the transaction is an open receivable. If tax must be calculated, or freight can be entered. The default credit memo type for an invoice. The default invoice type, payment terms, etc.
Creation Sign: The creation sign of each transaction type is also controlled with a setup here. Transaction classes: Transaction types are dependent on seeded Transaction classes, which are seven Invoice, DM, CM , Deposit, Guarantee, Chargeback, Bills Receivable. Note For guarantees and deposits, the creation sign must be Positive. Transaction Type is setup at OU level.

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AutoAccounting
Receivables, Vision Operations (USA) > Setup > Transactions > AutoAccounting Oracle Receivables provides flexible setup for transaction accounting by using AutoAccounting and determines the General Ledger (GL) accounts for invoices by determining a value for each segment of the accounting flexfield. Invoice Salesperson = Joe Adams Transaction Type = Invoice 1. Wrist Pad 2 @ 1,000 Revenue Account = 01-100-4505-201 Salesperson = Joe Adams Revenue Account = 02-100-4000-000 Account Type = Revenue Segment Constant Value Table Name CO 01 CC Salesreps Account Trans. Types Product Standard Line Transaction Type = Invoice Revenue Account = 02-000-4505-100 Copyright 2006 Deloitte Development LLC. All rights reserved. Standard Line = Wrist Pad 24 Revenue Account = 02-000-4101-201

Auto Accounting

Auto Accounting: This screen displays the Auto Accounting Segments


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Payment Terms
Receivables, Vision Operations (USA) > Setup > Transactions > Payment Terms
Define standard payment terms to determine payment schedules and percentages of discounts allowed. The formula used to determine the amount due is: Amount Due = Relative Amount/Base Amount x Invoice Amount. For example: Relative Amount = 60%/Base Amount = 100% would be 60% of Invoice amount. Select the Credit Check check box to trigger Order Management credit check. Enter the number of days before the due date that the invoice should be printed. Allow discounts on partial payments by selecting the Allow Discount on Partial Payments checkbox. Specify how to allocate tax and freight on invoices with split terms: in the first installment, or prorated across all installments. Select the Last Day of Month check box or a specific day to send consolidated invoices.
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Payment Terms

Payment Terms: This screen displays the Payment Terms extended to customers. These payment terms are used on invoices
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Transaction Sources
Transaction sources are used to control transaction batching, numbering, and specify default transaction types. Select validation options for imported transactions. Assign batch sources to invoices, debit memos, commitments, credit memos, and onaccount credits. When setting up the Credit Memo Workflow, assign a Manual source. Select the Copy Document Number to Transaction Number check box to use the same value for both the document number and the transaction number for transactions assigned to this source. You must check the box if using Gapless document sequences.

Control

10001
Invoice Batch Defaults

10002 10003
Numbering
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Transaction Sources

Transaction Source: This screen displays the Transaction Sources


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System Options Relating to Transactions


Receivables, Vision Operations (USA) > Setup > System > System Options Header Level Rounding: Assigning a special account for rounding differences when converting foreign currency transactions to your functional currency. The Header Level Rounding is enabled on the Accounting tab. Caution: It cannot be disabled once the box has been selected and Header Level Rounding adds an additional line to every transaction regardless of the currency. Automatic Journal Import: Automatically import the batches you transfer by checking this box on the Accounting tab. The value becomes the default value on the Run GL journal Import field in the Run General Ledger Interface window. Allow Change to Printed Transactions: Allow updates to printed transactions by checking this box on the Trans and Customer tab. Allow Transaction Deletion: Allow transaction to be deleted from Receivable after it has been saved by checking this box on the Trans and Customer tab. Caution: Do not enable this option if using gapless numbering of transactions.

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System Options

System Options: This screen is used to define System Options


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System Options

System Options: This screen is used to define System Options


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System Options

System Options: This screen is used to define System Options


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Overview of Receipt Setup


Set up receipts in the following order:
Receivables activities Remittance bank Bank accounts

Receipt source

Receipt class and payment methods

Setup options: AutoCash Rule Sets Application Rule Sets

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Types of Receivables Activities


You determine how Oracle Receivable accounts for various Receivables Activities by specifying accounting rules. Adjustment: You use activities of this type in the Adjustments window. You must create at least one activity of this type. Bank Error: You use activities of this type in the Receipts window when entering Miscellaneous transactions. You can use this type of activity to help reconcile bank statements using Oracle Cash Management. Earned Discount: You use activities of this type in the Adjustments and the Remittance Banks windows. Use this type of activity to adjust a transaction if payment is received within the discount period (determined by the transaction's payment term). Finance Charge: You use activities of this type in the Customers and System Options window. You must define a finance charge activity if you include finance charges on your statements or dunning letters. You can only define one activity of this type. Miscellaneous Cash: You use activities of this type in the Receipts window when entering Miscellaneous transactions. You must create at least one activity of this type. Unearned Discount: You use activities of this type in the Adjustments and the Remittance Banks windows. Use this type of activity to adjust a transaction if payment is received after the discount period (determined by the transaction's payment terms).
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Receivables Activity Setup


1. Select Type of Activity 2. GL Activity Source Options:
1. Activity GL Account: Uses the General Ledger (GL) Account on the Receivables Activity Screen. Revenue on Invoice: Uses the GL Account on the Invoice. Tax Code on Invoice: Uses the GL Account on the Tax Accounting window of the Tax Code form. Distribution Set: Uses a predefined set of GL Accounts for miscellaneous cash type activities only.

2. 3.

4.

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Receipt Class, Payment Method & Bank Account Relationship


The relationship between receipt class, payment, and bank account enables default accounting. When a receipt is entered, a payment method and bank account are specified. Then Oracle Receivables processes the receipt according to the receipt class that the payment method is associated with, and the accounting for the receipt is derived from the bank account of the payment method

Receipt class

Payment method

Payment method

Bank account
GL account
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Bank account
GL account
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Defining Banks
Before receipts can be recorded, banks must be defined. Enter bank information, such as address, contact person, institution type, and transmission and printing programs. Define customer and supplier banks as well as internal banks. Share banks with Oracle Payables, which uses these banks for remittance of payments. Reconcile payments and receipts through Oracle Cash Management, which shares the same bank information. Receivables, Vision Operations (USA)v > Setup > Receipts > Banks Banks can have one or more bank accounts for each physical bank. Enter a separate bank account for each currency used at a given bank branch. Select the Multiple Currency Receipts check box in the Receivables Options tabbed region to allow deposits in currencies other than the currency of the bank account. The Multiple Currency Receipts check box can be selected only if the bank account is in the functional currency. Enter a cash account to debit for receipts that are remitted to each bank account. Enter information about the contact person for each remittance bank account.
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Bank Account and Branch definition

Banks: This screen displays the listing of Banks, country wise


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Bank Account and Branch Creation

Banks: This screen displays the creation of new Banks and related branches.
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Defining Receipt Classes


Receivables > Setup > Receipts > Receipt Classes Receipt classes determine how Oracle Receivables processes receipts, by specifying: Entry Method Manual: Standard, quick, and lockbox receipts Automatic: Automatic and credit card receipts Remittance Method No Remittance: Receipts that are not remitted. Standard: Regular remittance. Standard and Factoring: Both types in a batch. Note: Cash receipts that will be reconciled in Oracle Cash Management must be remitted. Clearance Method Direct: Clears receipt status as soon as the receipt is entered. By Automatic Clearing: Runs a program to clear receipts. By Matching: Clears receipts by reconciling them in Oracle Cash Management. Note: Clearing happens when the receipt has cleared from the bank. This usually indicates the funds are available, which is important for cash flow. Payment method You can define one or many payment methods to use for a receipt class. Payment methods determine the automatic receipt attributes.

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Receipt Classes

Receipt Classes: This screen is used to define receipt classes


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Collectors
Collectors Collectors are defined in Receivable module and are attached to Customer / Customer site.

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Collections Aging Buckets

Use the Receivables Aging reports to review information about outstanding receivables as of a specific date about your customer's current and past due invoices, debit memos, and chargebacks. Receivables also gives you the option to age or summarize on-account credits, unidentified payments, and on-account and unapplied cash amounts.
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Profile Options
System Administrator > Profile > System Profile Options control many functions in Receivables. Some examples are: AR: Allow Over application in Lockbox: Controls how AutoLockbox handles receipts when the payment amount is greater than the balance due of a transaction. AR: CashAllow Actions: Determines whether you can create adjustments and chargeback's when applying receipts in the Applications window. AR: CashDefault Amount Applied: Determines the default value of the Amount Applied field in the Receipts, Applications, and QuickCash windows when you enter an application. AR: Create Bank Charges: Determines whether users can create bank charges when entering receipts in Receivables. AR: Include Receipts at Risk in Customer Balance: Controls whether Receivables displays items at risk and includes them calculating account balances in the Account Details, Account Overview, and Customer Account windows. AR: Invoices with Unconfirmed Receipts: Select whether to adjust or credit invoices selected for automatic receipt.
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System Profiles

System Profiles: This screen is used to define system profiles

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Summary - Day 1
Today we have covered the following topics: Overview of Order to Cash Cycle. Overview of Receivables Process

Note: Appendix includes some screenshots of Order to Cash flow as well.

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End of Day 1

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Appendix - Screenshots

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Order Entry

Order Entry Screen: This screen is for creating Sales Orders. Underlying Table is OE_ORDER_HEADERS_ALL
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Line Level & Other Information

Order Entry Screen: The Line Items Tab is used to enter details of Items ordered.
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Book Order

Book Order: The FLOW_STATU S_CODE Column of OE_ORDER_L INES_ALL changes from Entered to Booked.

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Pick Release

Pick Release Screen: This screen is used to Pick & Release the orders which are Booked.
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Shipping Transactions Form

Pick & Ship Screen: This screen is used to Ship the orders after Pick Release.
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Price List

Price List: Price List screen shows the Prices attached with an Item. Same item may have different prices at different time eg: seasonal Items like AC, Woolen Sweaters
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Modifiers

Modifiers: The modifier provides price adjustments such as discounts, price breaks, surcharges, coupons, item and term substitutions, and other item discounts.
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Concurrent Program

Concurrent Program: The Pick Selection List Generation program is kicked off as a background process.
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Other Concurrent Programs

Concurrent Program: Other Concurrent Programs are also kicked off as a background process as indicated above.
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Delivery Tab

Shipping Transactions Screen: Delivery Tab shows deliveries that are created as part of Shipping Process.
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Ship Confirm

SO Screen: Flow_Status_Code changes to Shipped in Lines table as visible on Lines Tab.


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Create Invoice
Run workflow background Process. Navigation: Order Management >view >Requests Workflow Background Process inserts the records RA_INTERFACE_LINES_ALL with INTERFACE_LINE_CONTEXT = INTERFACE_LINE_ATTRIBUTE1 = INTERFACE_LINE_ATTRIBUTE3 = ORDER ENTRY Order_number Delivery_id

and spawns Auto invoice Master Program and Auto invoice import program which creates Invoice for that particular Order.

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Auto Invoice Import

Auto Invoice: Auto Invoice, a seeded concurrent program creates invoices against orders.
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Invoice
The Invoice created can be seen using the Receivables responsibility. Navigation: Receivables Super User> Transactions> Transactions Query with the Order Number as Reference. Underlying tables: RA_CUSTOMER_TRX_ALL will have the Invoice header information. The column INTERFACE_HEADER_ATTRIBUTE1 will have the Order Number. RA_CUSTOMER_TRX_LINES_ALL will have the Invoice lines information. The column INTERFACE_LINE_ATTRIBUTE1 will have the Order Number.

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Invoice

Invoice: This screen shows the invoice created against SO. The reference filed indicates the Copyright 2006 Deloitte Development LLC. All rights reserved. 64 SO Number .

Invoicing & Accounting Rules

Invoicing and Accounting Rules: This screen is used to define the accounting rules for invoices.
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Transaction Types

Transaction Types: This screen is used to define valid Transaction Types.


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Profile Values

Profile Values: This screen displays the values set for various profile options

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GL Accounts

GL Accounts: This screen is used to define General Ledger Accounts


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Tax Accounts

Tax Accounts: This screen is used to define Tax Accounts, state wise
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