Receipts

It is  well known that Oracle allows two types of receipt Cash and Miscellaneous.
Cash receipts are those that apply to a customer account and can be applied to a customer and/or their transactions.

A miscellaneous receipt is a receipt such as bank interest that is income but which does not apply to an outstanding debt

Then ‘Reversing’ means..

Reversing a receipt is usually necessary when cheques are returned as unpaid -when the customer has insufficient funds or for example. In these cases Oracle allows the reversal of a previously recorded receipt thereby showing the invoice balance as unpaid.

The only pre-requisite for this is to be informed that a check has bounced or there are insufficient funds to pay a receipt.

Applying the Receipt

Once a receipt has been recorded it needs to be applied to a customer invoice so that the customer balance is updated and they are not chased for the outstanding amount.

Business scenarios for managing receipt

1. Receipts against multiple customer transactions

In these instances your customer will pay invoices on behalf of another customer, in addition to their own. You can apply a receipt to more than one customer.

2. Receipts against multiple invoices

In some instances a customer will send one payment that must be applied to numerous outstanding invoices. You can apply a receipt to more than one customer Invoice.

3. Apply Receipts on Account

In some instances a customer will send a payment without having any outstanding transactions to apply it to. These might be duplicate payments or payments for invoices

Unapplied Receipt

This receipt is not applied to an existing invoice when it is entered. When the customer does not want to apply the entered receipt they can leave it as unapplied and apply the amount on a later date.

On-Account

In case of an On-Account receipt, there is no identified invoice against the receipt. Advance money is received from the customer and the invoice for the same can be raised at a later date.

The World of API’s

To integrate with Oracle apps there are 10 API’s, such as:

a) Creating a cash receipt

b) Applying it to a debit item

c) Creating a cash receipt and applying it to a debit item in one pass

d) On-account application

e) Unapplying the On-Account application

f) Unapplying the receipt application to a particular transaction

g) Reversing the receipt

h) Create a Miscellaneous receipt

i) Create a cash receipt activity application

j) Unapplies a cash receipt activity application