Oracle Fusion Cloud/EBS Knowledge Sharing Blog

When checks issued for payments to suppliers, haven’t been presented for clearing during a specific time period, you should escheat them and transfer the amount to the appropriate local authority. Setups Required Unclaimed fund account at Common Options for Payables and Procurement When you escheat an unclaimed check, its payable amount must be stored in an account before it’s transferred to the escheatment authority Minimum days to escheat payment at Manage Payment Options Before you escheat a payment, you must define a minimum time duration for the validity of a check. Till this time has passed, a check can stay in the Negotiable state. Beyond this duration, Payables identifies this check as valid for escheatment. Escheatment Process Select the Payment and Initiate Escheatment:  Send stop payment instructions to the corresponding banks for all payments in the Escheatment Initiated status After performing due diligence on all stale dated payments, go to the Manage Payments page an...

In AR, we can send copies of the invoice to customers automatically. Some setups need to be done to send Transaction Copies Delivery using E-Mail. Configurations required: Update “Transaction Delivery Using Email settings” at Receivables System Options Setup Assign Preferred Delivery Method as Email in Customer Profile Update Customer Contacts at Communications tab  Add “Role Type” as “Contact”, Add Email Contact Point and Responsibility Type should be “Bill To” Process to run: Run ESS Job “Print Receivables Transactions” (Master program that initiates other child programs which prints transactions or delivers transactions using email) Manage Receivables System Options Setup Use the Transaction Delivery using E-Mail section of the Billing and Revenue tab of the  Receivables System Option  pages to set up the details of transaction delivery using e-mail for the applicable business units. Enter these values in the corresponding fields: From Name: Name of your enterprise. Fr...

Some of us are still confused with O2C journals, especially on the Receipts side. I am trying to clarify the same here. If you need to understand the complete flow and journals of O2C you can refer to the same in my blog which I already posted before.   Let me explain how the receipts are accounted for using different remittance and clearance methods. Receipt with no Remittance and clearance method By Matching When creating Receipt Remitted Cash A/C…..Debit Unapplied Cash A/C…......Credit When applying receipt to open invoices Unapplied Cash A/C…...Debit Receivables A/C…....Credit When reconciling in Cash Management Cash A/C….....Debit Remitted Cash A/C…...Credit Receipt with Remittance When creating Receipt Confirmed Cash A/C……………Debit Unapplied Cash A/C…......Credit ...