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Contents
O verview of Auto matic Receipts:...........................................................3
A uto matic Receipts and Re mittance Process ...............................................4
Setting Up Auto matic Receipts..............................................................6
Step 1: Define Receipt Class .............................................................7
Step 2: Define Receipt M ethod ...........................................................9
Enabling Auto matic Funds Transfer Error Corrections ............................. 10
Step 3: Assigning Re mittance Banks ................................................... 12
Step 4: Setting Up Docum ent Sequences............................................... 14
Enable Sequential Nu mbering Profile Option ....................................... 14
Step 5: Define Print programs for your Auto matic Receipts........................... 15
Step 6 Oracle Pay ments Setup For Funds Capture Processing ........................ 16
Setting Up Funds Capture by Oracle Pay ments ..................................... 16
Si mulation of Auto matic Receipts Feature:............................................... 17
Step 1 Assign default pay ment details at the custom er account or site level.......... 17
Step 2 Flagging Transactions for Auto matic Receipts ................................. 19
Step 3 Create Auto matic Receipts Batch ............................................... 20
Sub mitting the Auto matic receipt creation process.................................. 20
Step 4 Approving Auto m atic Receipts ................................................. 23
Step 5 For matting Autom atic Receipts (Optional)..................................... 24
Step 6 Confirming Autom atic Receipts ................................................ 25
Accounting for Auto matic Receipts....................................................... 27
Important Reports.......................................................................... 28
A uto matic Receipts and Re mittances Execution report................................ 28
Transactions A waiting Consolidation .................................................. 28
A uto matic Receipts A waiting Confirmation Report................................... 28
Receipts A waiting Re mittance Report ................................................. 28
A uto matic Receipt Batch Manage ment Report ........................................ 29
So me Facts and Questions:................................................................ 30
Description
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
Choose a Re mittance Method. The remittance method determines the accounts that Receivables
uses for Automatic receiptsthat you create using the receipt method assigned to this receipt class.
Choose one of the following methods:
Standard: Use the remittance account for Automatic receipts assigned to a receipt method with
this receipt class.
Factoring: Use the factoring account for Automatic receipts assigned to a receipt method with
this receipt class.
Standard and Factoring: Choose this method if you want Receivables to select receipts
assigned to this receipt class for remittance regardless of the batch remittance method. In this
case, you can specify either of these remittance methods when creating your remittance batches.
See: Creating Remittance Batches, Oracle Receivables User Guide.
No Re mittance: Choose this method if you do not require receipts assigned to this receipt class
to be remitted.
Note: If the creation method is Automatic, then you cannot select No Remittance as the
Re mittance Method.
To require Automatic receipts assigned to this receipt class to be confirmed before they can be
remitted, check the Require Confirmation box. Check this box to confirm Automatic receipts
using this receipt class in the Confirm Automatic Receipts window.
If you check this box, then:
The Create Automatic Remittances window does not let you create remittances for
unconfirmed receipts that were created using a receipt method with this receipt class.
Receivables will not let you create refund credit card receipts that were created using a
receipt method with this receipt class.
7. Enter a Receipt Maturity Date Rule. Receivables uses this rule to pay invoices that have
different due dates with a single receipt using this receipt method.
Choose from one of the Rules:
Earliest:if you want the receipt maturity date to be the earliest due date of all of the invoices that
your receipt covers.
Latest: if you want the maturity date to be the latest due date of all of the invoices that your
receipt covers.
8. Enter the Automatic Print Program for transmissions using this receipt method.
Receivables provides one standard receipt print program to format the output of your pay ment
selection and creation programs when you physically create the receipt docu ment.If you need a
different receipt print program format, you must copy this standard receipt print program, and
m odify it accordingly.
9. Specify a nu mber of Lead Days. Lead days indicate the nu mber of days before the invoice due
date that an invoice can be selected for application by the Automatic Receipts program using this
receipt method.
10. Select a funds capture pay ment method. A funds capture pay ment method is a pay ment
mediu m by which your customer chooses to remit pay ment to you. Oracle Payments predefines
funds capture payment methods, but you can define your own.
Select Credit Card for transactions to be paid by creditcard.
Select Bank Account Transfer for transactions to be paid by AC H (Automated Clearing House)
transfer.
For transactions to be paid by direct debit,create a new receipt method or use an existing receipt
method, and assign or define a new EFT-specific payment method.
11. Select Funds Transfer Error Handling to enable the Automatic correction of funds transfer
errors.
Available Actions
Change Instrument, Clear Pay ment Information, Retry
Change Instrument, Retry,Reverse Receipt
Retry, Reverse Receipt
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For example,for the Invoice category, map a credit card processor's error code of G W-0062 to an
action such as Retry. If credit card authorization later fails and the credit card processor returns
the error code of G W-0062 for multiple transactions, then Receivables will delete the error on all
failed transactions in the Invoice category that have this error code. This error code removal
makes allfailed transactions eligible for inclusion in the next Automatic Receipts batch.
Optionally enter a subsequent action, and indicate how many days should pass before
attempting the next action. For example, you might want to remove the credit card information
after attempting reauthorization for two days.
If no subsequent action is specified, then the nu mber of days indicates how many days should
pass before failed transactions appear on the Correct Funds Transfer Errors page for manual
correction.
Note: Transactions that stillfailthe automatic funds transfer correction process are displayed on
the Correct Funds Transfer Errors page. Navigate to this page to manually correct funds transfer
errors. Optionally enter notes for automatic inclusion on the transaction that recorded the funds
transfer error.
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transmission program for this receipt method if your bank branch account's factoring creation
mediu m is magnetic medium.
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Receipt Methods
You can attach Receipt Methods at Customer and Custo mer Site level.
The Site level willtake precedence.
You can assign multiple receipt methods to a customer account as long as the start and end dates
of the methods do not overlap.
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During transaction entry, Oracle Receivables uses the primary receipt method that you defined
for your customer accounts as the default. However, you can override the receipt method, along
with the payment method and pay ment instrument, atthe transaction or receipt level.
By default when you create Transactions, the receipt method attached at Customer level (step1)
will be defaulted. You can always override this Receipt Method.
Pay ment Instruments
This customer pay ment information that you create is actually stored in Oracle Pay ments for use
during funds capture processing.
Credit Cards
Bank Account Transfer:
Assign bank accounts to customer accounts to allow funds to be automatically transferred from
these accounts to your remittance bank accounts when using Automatic receipts. Receivables
allows multiple customer bank accounts in different currencies and lets you assign bank accounts
to customer addresses.
The primary bank account for a particular currency is used as the default account when you use
Auto matic receipts. You can define multiple, non-primary accounts in the same currency, even if
the date ranges overlap.
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To flag imported transactions to be paid by Automatic Receipt, ensure that each transaction to
import has pay ment details defined and is assigned to a receipt method with an associated
receipt class that has an Automatic Creation Method.
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9. Enter selection criteria to create Automatic Receipts for specific transactions or customers
(optional). For example, enter the low and high values of the transaction Due Dates, Transaction
and Docu ment Nu mbers, Customer Na mes, or Customer Nu mbers to create Automatic Receipts
for those transactions. Leave a field blank if you do not want to limit your query.
Note: Enter a range of creditcard nu mbers in the Bank Accounts to create Automatic Receipts for
transactions marked for pay ment by credit card.
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10. Choose OK. Receivables generates a Batch Na me by using the next nu mber after the value in
the Last Nu mber field of the receipt source 'AUT O M A TIC RECEIPTS.'
Depending upon the function security options set up by your system ad ministrator, you might be
able to create,format, and approve Automatic receipt batches in one step.
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due for this transaction. If Natural Application Only is Yes, you can only enter an amount that
brings the balance due of the transaction closer to zero.
5. If you updated transaction information save your work.
6. Choose Confirm, then enter the GL and Confirmation Date for this receipt. The GL date must
be in an open or future accounting period. If you are reviewing a receipt that you have already
confirmed, Receivables displays the GL date you specified for the previous confirmation. The
default Confirmation date is the current date, but you can change it.
7. Choose Confirm.
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Accounting Entries
D R Accounts Receivables
CR Revenue
D R Confirmation
CR Accounts Receivables
D R Confirmation
CR Accounts Receivables
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Important Reports
Automatic Receipts and Remittances Execution report
Use this report to review the nu mber and amount of Automatic receipts and remittances you
have created, approved, or formatted. Receivables auto matically generates this report when you
sub mit a batch of Automatic receipts or remittances to be created, approved, or formatted.
For Automatic receipts,the report prints the nu mber of receipts processed and their amounts for
each customer. This report also prints a sum mary by currency at the end of the report.
For remittances, this report prints the nu mber and am ount of remittances for each remittance
bank account and a sum mary by remittance bank (by currency) at the end of the report.
Receivables also prints any exceptions that occurred while processing Automatic receipts. Typical
exceptions might be that minimu m receipt amounts have not been satisfied at the customer or
bank level, or that the primary site has not been defined for that customer and your system
option requires one.
Transactions Awaiting Consolidation
Use this report to review a list of transactions (debit me mos, credit me mos, on-account credits,
invoices) that have been designated for Automatic receipt application (i.e., that have been
assigned an Automatic receipt method). You can also review transactions that have been
designated to be exchanged for bills receivable (i.e., that have been assigned a bill receivable
receipt method). You can review all transactions that are in different stages of the creation
process. These stages include creating, approving, and formatting. Receivables does not display
transactions that have been confirmed, or approved for Automatic receipt with a receipt class of
Require Confirmation set to No, in this report.
Receivables will also display transactions that started but did not complete, the creation,
approval, or formatting process in this report.
Automatic Receipts Awaiting Confirmation Report
Use this report to review all Automatic receipts awaiting confirmation. Before a receipt can be
included in this report it m ust be formatted and have been assigned a receipt method with a
receipt class of Require Confirmation set to Yes. Receipts that have been confirmed, do not
require confirmation, or have been approved but not formatted will not be displayed in this
report.
Receipts Awaiting Remittance Report
Use this report to review a list of Automatic receipts that are awaiting remittance to your bank.
Before an Automatic receipt can be included in this report, it must be confirmed or created as
confirmed, and the receipt class assigned to it must have Require Remittance set to Yes. Before a
manual receipt can be included in this report,the receipt class assigned to it must have Require
Re mittance set to Yes. You can review all receipts waiting to be sent to your remittance bank or
receipts that are in different stages of the remittance process.
Once a receipt has been approved for remittance it will no longer be displayed in this report.
Receipts that have started, but not yet completed, the creation or approval process also appear in
this report.
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W hat is significance of profile option AR: Default Exchange Rate Type in Automatic Receipts?
Profile AR: Default Exchange Rate Type determines the default exchange rate to use when
converting foreign currency transactions to your functional currency. If using the Auto matic
Receipts and Re mittances Creation programs to pay foreign currency transactions, then set this
profile option to a value other than User.
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the same as the discount date. For example, if the pay ment schedule for your pay ment terms
specifies that your transaction is due 30 days after the transaction date, then enter a percent
discount for 30 days after the transaction date for that pay ment schedule line. This lets
Receivables always take the percent discount you specify.
Receivables does not allow discounts to be calculated for Automatic receipts that require
confirmation. Ho wever, you could define a receivables activity type of 'Discount' and create an
adjustment in the Applications window to adjust the balance down on the invoice. Then, charge
the adjusted amount to the discount account defined for the discount receivables type.
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If you want one customer to be able to pay for an invoice billed to another custo mer, you must
either have the system option Allow Pay ment of Unrelated Invoices set to Yes, or define a
relationship between the two customers. Then, when entering an invoice, you must enter the billto customer's name and location and the paying customer's bank information.
N u m bering Automatic Receipts
To help you track receipts that the Automatic Receipts program creates, you can ensure that the
Auto matic receipt'stransaction nu mber isthe same as the nu mber of the transaction to which itis
applied. To do this, set the Receipt Inherit Invoice N u mber option to Yes when defining the
receipt class for your Automatic receipt.
If the Receipt Inherit Invoice Nu mber option is set to No, the Automatic Receipts program
automatically generates a unique Automatic receipt num ber. The Receipt InheritInvoice Nu mber
option affects only receipts created by the Automatic Receipts program. When creating a manual
Auto matic receipt in the Receipts window, you must enter a receipt nu mber.
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White Paper Title Automatic Receipts [Release 12], A Complete Guide for Oracle Receivables Users
[October] 2008
Author: Bharat Rajani, GCS.
Contributing Authors:
Oracle Corporation
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500 Oracle Parkway
Redwood Shores, CA 94065
U.S.A.
Worldwide Inquiries:
Phone: +1.650.506.7000
Fax: +1.650.506.7200
www.oracle.com
Copyright 2008 Oracle. All rights reserved. Oracle is a registered trademark of Oracle. Various product and service names referenced herein may be
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