A receipt is a written acknowledgement that a specified article or sum of money has been received as an exchange for goods or services. The receipt acts as the title to the property obtained in the exchange.

In oracle receipts are processed in three steps: Creation(approval)/Confirmation, Remittance and Clearance.

Manual Receipts

  • Manual receipts are entered in receipt workbench and can be entered individually or in a batch.
  • The customer balance is updated when the receipt is saved.
  • Manual receipts can be cash or miscellaneous receipts.

QuickCash Receipts

  • You can enter receipts manually or using AutoLockbox. QuickCash receipts must be entered in a batch.
  • The customer balance is updated when the batch is posted.
  • You can simplify the receipt application process using AutoCash rule sets.

Automatic receipts

  • Automatic receipts can be a bill of exchange (BOE), direct debit, or credit card receipt and Automatic receipts must be entered in a batch.
  • Automatic receipts are created, approved, and formatted. The customer balance is updated during the approval process.
  • Automatic receipts require customer authorization and customer bank information, and they can require customer confirmation.

Receipt Type

You can enter two types of receipts in Receivables:

  1. Cash receipts: Payment (such as cash or a check) that you receive from your customers for goods or services.
  2. Miscellaneous receipts: Revenue earned from investments, interest, refunds, and stock sales.
  • You can apply receipts to invoices, debit memos, deposits, guarantees, on–account credits, and chargebacks.
  • You can partially or fully apply a receipt to a single debit item or to several debit items.
  • You can enter receipts and apply them to transactions in either Open or Future accounting periods.
  • If you do not specify a customer for a receipt, the receipt is unidentified. In this case, the receipt amount appears in the Unidentified field in the Receipts window (Application Summary tabbed region). You cannot apply an unidentified receipt.

Receipt Status
A receipt can have one of the following statuses:
Approved: This receipt has been approved for automatic receipt creation. This status is only valid for automatic receipts.
Confirmed: For manually entered receipts, this status indicates the receipt belongs to a receipt class that requires remittance. For automatic receipts, this status indicates the receipt has been confirmed.
Remitted: This receipt has been remitted. This status is valid for both automatic and manually entered receipts.
Cleared: The payment of this receipt was transferred to your bank account and the bank statement has been reconciled within Receivables. This status is valid for both automatic and manually entered receipts.
Reversed: This receipt has been reversed. You can reverse a receipt when your customer stops payment on a receipt, if a receipt comes from an account with non–sufficient funds or if you want to re–enter and reapply it in Receivables. You can reverse cash receipts and miscellaneous receipts.

1.1 Receipts Batches
1.2 Cross Currency Receipts
1.3 More on Receipts (Standard Reversal and Debit memo reversal)

2.1 Applying Receipts
2.2 Chargebacks and Adjustments
2.3 Bills of Exchange

Demo : Customer Receipts - Bank Deposits - Remittances

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