Entering and Changing Credit Memos

In this practice you will learn how to create credit memos.

    * Enter a credit memo with percentage

    * Enter a credit memo for a specific line

    * Enter an on-account credit invoice

Assumptions

    * You must have access to an Oracle Application Vision database or comparable training or test instance at your site on which to complete this practice.

    * The URL s for accessing the HTML login page and apps login page.

    * Seeded vision data.

Tasks

1.    Enter a credit memo with percentage:

It has been determined that the invoice entered should have included a 5% discount up front; that will be rebilled at a later date.  You will create a credit memo for the discrepancy.

Solution:

   1. Login as Operations with Welcome as the password.
   2. Choose Receivables, Vision Operations (USA) as the responsibility.
   3. (N) Transactions > Credit Transactions
   4. You enter a query to retrieve previously created transactions.
   5. Leave the “Batch” field set at  “None” since we are not batching credit transactions.
   6. The Source is Manual and the system will auto-generate the credit memo number.
   7. Choose Credit and Rebill as the reason.
   8. Enter Credit Memo as the type.
   9. In the Line field of the Credit Memo region, enter 5 which implies a credit of 5 % for all lines.
  10. Save your work.
  11. Choose the Credit Lines button to review how the system pre-rated the credit amount..
  12. Close the Lines window to return to the Credit Transactions window.
  13. Choose the Complete button to complete your invoice.
  14. Write down the credit memo number _____________________________

Tasks

2.    Enter a credit memo for a specific line:

    * Correct a specific invoice line error.

Solution:

   1. Login as Operations with Welcome as the password.
   2. Choose Receivables, Vision Operations (USA) as the responsibility.
   3. (N) Transactions > Credit Transactions
   4. You enter a query to retrieve previously created transactions.
   5. Leave the “Batch” field set at  “None” since we are not batching credit transactions.
   6. The Source is Manual and the system will auto-generate the credit memo number.
   7. Choose Credit Memo as the type.
   8. Choose Damaged Goods as the reason.
   9. Save your work.
  10. Choose the Credit Lines button.
  11. Use List of Values to choose the value of the Num field.
  12. Enter –5 as the quantity.
  13. Enter 50 as the unit price.
  14. Save your work.  Notice Balance Due on the invoice.
  15. Close the Lines window to return to the Credit Transactions window.
  16. Choose the Complete button to complete your invoice.
  17. Write down the credit memo number _______________________

Tasks

3.  Enter an on-account credit invoice:

A customer has been over-charged.

Apply the on-account credit memo against the standard invoice.

Solution:

   1. Login as Operations with Welcome as the password.
   2. Choose Receivables, Vision Operations (USA) as the responsibility.
   3. (N) Transactions > Transactions
   4. Choose Manual as the source.  Since this source has been defined as a manually entered transaction with automatically generated, sequential transaction numbering (the system will assign a number upon committing/saving).
   5. Choose Credit Memo as the class.
   6. Choose On-Account Credit as the type.
   7. Choose American Telephone and Telegraph as the customer.
   8. New York (OPS) is defaulted as the location.
   9. Smith, Lisa is defaulted as the contact.
  10. Douglas, Ms. Lisa is defaulted as the salesperson.
  11. Save your work.
  12. Click on the Line Items button.
  13. Enter Miscellaneous in the Description field.
  14. Enter 1 as the Quantity.
  15. Enter -400 as the unit price.
  16. Choose Location as the tax code.
  17. Save your work.
  18. Close the Lines window to return to the Transactions window.
  19. Choose the Complete button to complete your invoice.
  20. Write down the invoice number  _____________________.
  21. (N) Transactions > Transactions Summary
  22. You enter a query to retrieve previously created on-account credit transactions.
  23. Choose the Applications button.
  24. In the Apply To field, chose a transaction to apply the on-account credit against, optionally you can choose not to apply the complete amount by changing the Amount Applied field.
  25. Save your work.

Oracle Applications Fusion Cloud - Inventory

Oracle Cloud/Fusion Procurement training will help you develop the fundamental skills required to set up and use the Procurement module. This training covers all the tasks, setups, forms and reports used in Procurement and related modules