Explain the process of recievables in oracle financials. : oracle accounts receivable
- 1 Answers
- 1259 Views
- I also Faced
- E-Mail Answers
Answer Posted / Dev Dutt Joshi
In Oracle Financials, the Accounts Receivable (AR) module manages customer invoices and cash collections. The process includes:
1. Invoice Creation: Create an invoice for goods or services provided to customers.
2. Invoice Approval: Get the invoice approved by the necessary approvers, depending on your organization's setup.
3. Invoice Posting: Post the invoice to make it available for customer payment and update accounts accordingly.
4. Customer Payment: Customers can make payments via various methods such as cash, check, or electronic funds transfer.
5. Receipt Creation: Create a receipt for the received payment, which updates the customer account balance.
6. Bank Reconciliation: Compare the bank statement with recorded transactions to ensure accuracy and make necessary adjustments.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
