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AR Standard Oracle Practices
AR Standard Oracle Practices
AR Standard Oracle Practices
FUCTIONAL PROCESS FLOW: RECEIPT PROCESS + RECONCILIATION UNIDENTIFIED / UNAPPLIED RECEIPTS PROCESS
REMMITTANCE PROCESS:
ENTER PRINT & SEND CREATE & APPROVE FORMAT & SEND
TRANSACTION INVOICE RECEIPTS RECEIPTS
In AR, Transactions are flagged for the Automatic Receipt creation program to create the receipts. Additionally, customers can review
the receipts and confirm payments
Followed by, creation of remittance batches to select receipts for remittance which are sent to our bank. Then bank in-turn sends
statements for reconciliation in Cash Management
TCS Confidential
AR STANDARD ORACLE PRACTICES:
AutoLockbox automatically creates receipts in Receivables using electronic information that your bank provides.
Functionality: Customer deposits the money directly into the relevant bank account for the due invoices and bank provides a BANK/flat
file with a specific type of transmission format
Upon import program being submitted, Auto lock box will format the bank file into the Payments Interface Table
Validation Program will check the data with Receivable and upon validation the data is transferred into QuickCash Tables.
AR_INTERIM_CASH_RECEIPTS_ALL & AR_INTERIM_CASH_RCPT_LINES_ALL
Once validated you can query the receipts In the system via QuickCash Window
Followed by the application of receipts and updated Customer balances
In summary: Elimination of manual entries by automatic processing of receipts which were sent to the relevant bank
Optionally, when the post QuickCash program can use AutoCash Rule Set to apply the customer receipts in a specified manner:
i.e. Clear the Account, Clear the Past Due Invoices, Clear Past Due Invoices grouped by Payment Terms, Match Payment with invoices, Appy
Receipt to the oldest invoice first.
TCS Confidential
AR STANDARD ORACLE PRACTICES:
TCS Confidential
AR STANDARD ORACLE PRACTICES:
TCS Confidential