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Oracle Receivables User Guide
Release 12.1
Part Number E13522-04
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Bills Receivable

Bills Receivable Overview

Oracle Receivables provides a comprehensive solution to managing the entire life cycle of bills receivable: creation, acceptance, remittance, updates, history, and closing.

A bill receivable is a document that your customer formally agrees to pay at some future date (the maturity date). The bill receivable document effectively replaces, for the related amount, the open debt exchanged for the bill. Bills receivable are often remitted for collection and used to secure short term funding.

Creating Bills Receivable

Oracle Receivables treats a bill receivable as a separate transaction. You can create bills receivable individually through the Bills Receivable window, directly exchange a completed invoice for a bill receivable in the Transactions workbench, or create bills receivable in batch using the Bills Receivable Transaction Batches window or the Bills Receivable Batch Creation concurrent program. You can create signed, unsigned, and customer-issued (promissory note) bills receivable.

Remitting Bills Receivable

You can remit bills receivable to a bank or factoring company using the Remittances window. Choose to factor remittances with or without recourse. Optionally print bills receivable as supporting documentation for the bank or for your own records. Run the Bills Receivable Maturity and Risk program and report to apply receipts and eliminate risk on remitted bills factored with recourse. You can further automate the creation of a remittance batch by using the inbound API.

Managing Bills Receivable

Use the Bills Receivable Portfolio Management window as an analysis tool and to record changes to a bills receivable transaction. You can:

You can also review bills receivable transactions using the Receipt workbench features.

To further automate the update of items not paid by a customer, you can choose to utilize the Unpaid Bills Receivable API.

Bills Receivable Reporting

Oracle Receivables offers several reports that are specific to bills receivable. You can send reminder letters for items that are pending customer acceptance, set up and review stamp values for tax authorities that require stamps, and review bills receivable creation and remittance batches. There are also two RXi reports that let you customize the report layout to suit your needs.

Bills Receivable Creation

There are four methods in Oracle Receivables for exchanging transactions for bills receivable:

When you create a bill receivable manually, you can assign and group transactions that have the same currency and exchange rate as the bill according to your own requirements.

When you create bills receivable automatically, you must assign transactions a bills receivable creation receipt method. Receivables collects and groups transactions into bills receivable based on selection criteria, currency, exchange rate, paying customer bank account, and the rules defined on the bills receivable creation receipt method.

The bills receivable transaction type assigned to the bill receivable determines if the bill is issued by the drawee (promissory note), requires drawee acceptance (signed bill), or does not require drawee acceptance (unsigned bill). The transaction type also determines the printing options for the bill.

Note: While a transaction is assigned to a bill receivable that is pending drawee acceptance, you cannot perform any activity on the transaction, such as applying receipts, credit memos, or adjustments.

Bills Receivable Accounting

After you exchange a transaction for a bill receivable, the transaction is reduced by the exchanged amount. Accounting for the bill receivable occurs:

or

The initial accounting for a bill receivable is a debit to Bills Receivable and a credit to Accounts Receivable for each transaction exchanged. Receivables derives the Bills Receivable account segments from AutoAccounting and inherits the Accounts Receivable account segments from each transaction exchanged.

Manually Creating a Bill Receivable

Use the Bills Receivable window to manually create a bill receivable and assign transactions to the bill. You can also query and update existing bills receivable in this window.

You can designate a maximum amount for the bill. If you do, then the total amount of the transactions assigned to the bill must equal the designated maximum amount in order to complete the bill. If you do not designate a maximum amount, Receivables calculates the amount of the bill as the sum of assigned amounts when you complete the bill.

The values for the Signed and Issued by Drawee boxes are derived from the bills receivable transaction and are displayed for reference only. Receivables updates the Acceptance Date and Acceptance GL Date when a bill that requires acceptance is accepted, and updates the Remittance Date and Remittance Batch when the bill is remitted.

After you enter general information to create the bill, you can:

Prerequisites

To create a new bill receivable manually:

  1. Navigate to the Bills Receivable window.

    If you assigned a transaction batch source to the AR: Bills Receivable Batch Source profile option, the batch source defaults in the Source field. If the transaction batch source contains a bills receivable transaction type, the transaction type defaults in the Type field.

    Otherwise, enter or update the transaction batch Source.

  2. Enter or update the bills receivable transaction Type.

  3. If the batch source does not specify automatic transaction numbering or copying of the document sequence number to the bill number, enter a transaction Number. Otherwise, Receivables assigns a number when you save.

  4. Enter the bill receivable Maturity Date.

  5. Enter a Currency for the bill. The default is the functional currency.

    Receivables determines the exchange rate based on the transactions assigned to the bill. You can view exchange rate information for a completed bill using the Tools menu.

  6. If you want to set a maximum amount for this bill, enter the Amount for the bill. The sum of the transactions that you assign to the bill must equal this amount.

    If you leave the field blank, Receivables updates this field with the total amount of all assigned transactions upon completion of the bill.

  7. Enter an Issue Date for the bill.

  8. If the bill does not require acceptance, enter a GL Date. The date that you enter must belong to an open or future period.

    If the bill requires acceptance, leave this field blank. Receivables updates the GL date with the Acceptance GL date that you enter when the bill is accepted. See: Accepting a Bill Receivable for more information.

  9. If you are using manual sequence numbering, enter a unique Document Number. Otherwise, Receivables assigns a unique document number when you complete the bill.

    If your transaction batch source has Copy Document to Transaction Number set to Yes, then Receivables assigns this number as the bill receivable number.

  10. Open the Main tabbed region.

  11. Enter the customer drawee for this bill. You can enter the drawee by Name, Number, or Taxpayer ID.

  12. Enter the customer drawee Location, Address, and Contact.

    If you defined a primary drawee site and contact for the customer, this information defaults into the respective fields.

  13. Select a legal entity.

  14. In the Print Option field, enter Print to allow formatting of bills receivable or Do Not Print to disable formatting. The default value is derived from the transaction type.

  15. Open the More tabbed region.

  16. Enter any internal Comments about this bill.

    These comments are for internal use only and do not appear on the printed bill.

  17. Enter a Special Instruction for this bill.

    Special instructions appear on the printed bill.

  18. Optionally enter reference information.

Entering Bills Receivable Bank Account Information

Use the Bank Accounts tabbed region in the Bills Receivable window to enter customer drawee and remittance bank information.

The drawee bank defaults from the drawee's primary bank account for the bill receivable currency, if a primary bank account is defined that is in the currency of the bill.

Prerequisites

To enter bills receivable bank account information:

  1. Navigate to the Bills Receivable window.

  2. Query or enter a bill receivable.

  3. Open the Bank Accounts tabbed region.

  4. In the Drawee Bank region, Receivables displays a display-only Oracle Payments payment method, Bills Receivable.

    Select a customer drawee bank account.

  5. In the Remittance Bank region, select a remittance bank account.

  6. Leave the Allow Override box checked if you want to consider this bill when remitting to other banks. Uncheck the Allow Override box if you only want this bill included in remittances to this bank.

Related Topics

Creating a Bills Receivable Remittance Batch

Manually Assigning Transactions to a Bill Receivable

Use the Assignments window to manually assign transactions to a bill receivable, remove transactions from a bill receivable, and review assigned transactions. You can assign and unassign transactions to a bill until the bill is completed or, for bills that require acceptance, until the bill is accepted.

You can manually assign any class of transaction to a bill except guarantees. You can also assign a bill that has a status of Unpaid to a new bill receivable. See: Exchanging a Bill Receivable for a New Bill Receivable for more information.

By default, you can only assign transactions that belong to the drawee and its related customers. If you set the Receivables system option Allow Payment of Unrelated Transactions to Yes, you can assign transactions of unrelated customers.

You can assign full or partial transaction amounts to a bill. The unassigned portion of a transaction remains an open item. If you designated a maximum amount for the bill, you can only assign transactions up to the designated maximum amount. You cannot complete a bill receivable with a designated maximum amount until the bill is fully assigned.

Note: Bills receivable assignments follow the natural application rule, even though the individual transactions assigned to the bill may allow for overapplication.

You can only assign transactions that have the same currency as the bill receivable. Transactions assigned to the bill must share the same functional exchange rate. The bill inherits the exchange rate from the transactions assigned to it when you complete the bill. If you want to assign transactions with a different currency, you must uncheck any transactions already assigned to the bill and enter the new currency in the Currency field.

To manually assign transactions to a bill receivable:

  1. Navigate to the Bills Receivable window.

  2. Query or enter a bill receivable.

  3. Choose the Assignments button.

  4. Enter a Transaction Number to assign to the bill. Receivables defaults the remaining amount due for the transaction in the Amount Assigned field and updates the Assigned total of the bill.

    If a transaction has more than one installment, a separate row for each payment schedule due date is displayed.

    Note: Receivables displays the billing invoice number only if you select the Show Billing Number system option check box.

  5. If you want to assign a partial amount, update the Amount Assigned.

  6. Check the Assign box to assign this transaction to the bill. Uncheck the box to unassign a transaction.

  7. Save your work.

  8. Repeat steps 4 to 7 for each transaction that you want to assign to the bill.

    You can continue to assign and unassign transactions to the bill until it is completed or, for bills that require acceptance, until it is accepted.

Related Topics

Entering Transactions

Using Selection Criteria to Assign Transactions to a Bill Receivable

Use the Quick Assign window to assign groups of transactions to a bill receivable. You can retrieve transactions using selection criteria based on customer drawee information, transaction information, and transaction classes.

You can automatically assign transactions that match your selection criteria, or preview the selected transactions in the Assignments window and manually assign each transaction. If the bill has a designated maximum amount, Receivables assigns transactions until the full amount of the bill is assigned.

To assign transactions to a bill receivable using selection criteria:

  1. Navigate to the Bills Receivable window.

  2. Query or enter a bill receivable.

  3. Choose the Quick Assign button.

  4. Enter Customer selection criteria.

    If the customer drawee for the bill has a bill-to address, the Customer Name defaults. Enter a Customer Name or Number to search only this customer's transactions. You can narrow the search further by choosing a Customer Location. Leave the Customer fields blank to include transactions for both the customer and related customers.

    Note: For manually created bill receivables, if a customer drawee was previously assigned during creation, but you enter a different customer name in the Quick Assign window, then the search results will include transactions for both customers.

  5. Enter Transaction selection criteria:

  6. Specify how to sort selected transactions by entering a Primary Sort Criteria. The default is Transaction Number. If the bill is in a currency other than your functional currency, and the currency is outside the EMU, then the default is Exchange Rate. You can sort in Ascending or Descending order by:

  7. If necessary, choose the Secondary Sort Criteria and sort in Ascending or Descending order.

  8. In the Include region, indicate the transaction classes that you want to include in the search by checking or unchecking the appropriate boxes.

  9. To automatically assign all transactions that match your selection criteria, choose the Assign button. To review the results of your selection criteria before assignment, choose the Preview button.

  10. Update the transaction assignments in the Assignments window by checking or unchecking the Assign box. You can also update the Amount Assigned for each transaction.

Flagging Transactions for Automatic or Direct Exchange into Bills Receivable

To exchange a transaction for a bill receivable using the Bills Receivable Transaction Batches window, the Bills Receivable Batch Creation concurrent program, or the Exchange action in the Transactions window, you must update the transaction with a bills receivable creation receipt method. The currency, exchange rate, paying customer bank account, and the grouping rule assigned to the receipt method determine how transactions are grouped into bills receivable. To flag transactions for automatic or direct exchange into a bill receivable, you must assign each transaction a paying customer defined as a drawee, with a bills receivable creation receipt method.

A paying customer bank account on a flagged transaction acts as an additional grouping rule. Bills receivable transactions inherit the bank account entered on a flagged transaction if:

and

If the grouping rule on the bills receivable creation receipt method is One per Customer or One per Customer Due Date, then the bills receivable transaction inherits the bank account only if:

and

If the bank account on flagged transactions is not assigned to the primary drawee site, then Receivables creates the bills receivable transactions without a drawee bank account.

For transactions imported using AutoInvoice or entered manually, set the bills receivable creation receipt method as primary at the customer or customer bill-to site level, if you want to default the bills receivable creation receipt method to the transaction. If you also want to default the customer bank account, set the customer bank account as primary for the bill-to site.

Prerequisites

To flag transactions for automatic or direct exchange into bills receivable:

  1. Navigate to the Transactions window.

  2. Query or enter the transaction that you want.

  3. In the Paying Customer region, enter the Name or Number, and the Paying Location.

  4. Enter a bills receivable creation receipt method. Optionally select the drawee bank account information.

  5. Save your work.

  6. Repeat steps 2 to 6 for each transaction that you want to make available for exchange into a bill receivable.

Related Topics

Defining Customer Drawee Sites

Batching Transactions for Bills Receivable

Use the Bills Receivable Transaction Batches window or the Bills Receivable Batch Creation concurrent program to select and group transactions to exchange for bills receivable. Batching transactions lets you automatically generate bills receivable and assign transactions marked with bills receivable creation receipt methods to the bills.

When you submit a batch, Receivables runs the Bills Receivable Batch Creation concurrent program and prints the Automatic Transactions Batch report. The Automatic Transactions Batch report lists the bills receivable created from the batch and the transactions assigned to each bill. You can both print the report and submit the batch, or only print the report for review before submitting the batch. When you submit the batch, you can also print bills receivable if:

and

You cannot assign disputed transactions or other bills receivable to a bill using a bills receivable batch. If you are batching debit and credit memos with the payment term Immediate, Receivables includes these debit and credit memos in the first available bill receivable, without regard to the due date grouping rule assigned to the bill.

Note: The amounts of the debit and credit memos must still respect the maximum amount assigned to the bill, if there is one. If the sum of debit and credit memos assigned to a bill exceeds the maximum amount of the bill, Receivables excludes one or more debit/credit memos from assignment.

Numbering Bills Receivable Transactions

If only one transaction is exchanged for a bill receivable, then Receivables uses the transaction number as the bill number if:

If the Inherit Transaction Number box is not checked, or if the bill contains more than one transaction, then Receivables numbers bills receivable transactions according to the transaction batch source assigned to the batch.

Ordinarily, a bills receivable transaction batch source has the Automatic Transaction Numbering box checked. If you are using document sequences and the Copy Document to Transaction Number box is checked, then Receivables uses the document sequence number assigned to the bill as the bill receivable number.

Batch Statuses

A bills receivable batch has one of the following statuses after it is submitted:

To automatically batch transactions for bills receivable:

  1. Navigate to the Bills Receivable Transaction Batches window.

  2. Select an operating unit.

  3. Enter or update the bills receivable transaction batch Source.

    Receivables defaults the batch source from the AR: Bills Receivable Batch Source profile option, if there is one.

  4. Enter a Batch Name if the batch source does not use automatic batch numbering. Otherwise Receivables assigns a name when you submit the batch.

  5. Enter the Batch Date. The default is the current date.

  6. Enter the batch GL Date.

    Note: Bills that do not require acceptance inherit the GL date from the batch GL date. For bills that require acceptance, the GL date is derived when you enter an Acceptance GL date.

  7. Enter the Issue Date for bills receivable created with this batch.

  8. Enter a Maturity Date for bills receivable created with this batch (optional). The maturity date cannot be earlier than the issue date.

    If you leave this field blank, Receivables derives the maturity date from the bills receivable creation receipt method.

  9. Enter a bills receivable Currency (optional).

    If you enter a currency, Receivables only exchanges transactions and creates bills receivable in this currency. If you leave the field blank, Receivables can create bills receivable in different currencies, depending on the transactions selected.

  10. Enter any internal Comments.

    These comments are updated on each bill that is created by the batch and appear in the Bills Receivable window and Bills Receivable Portfolio Management window when you review the bill.

  11. Enter any Special Instructions for this bill.

    These instructions are updated on each bill that is created by the batch and appear in the Bills Receivable window and Bills Receivable Portfolio Management window when you review the bill. You can also choose to print special instructions on bills receivable.

  12. Open the Selection Criteria tabbed region (optional).

  13. Select transactions by payment schedule Due date range or Transaction date range.

  14. In the Transactions region, enter any of these criteria:

  15. In the Customers region, enter any of these criteria:

    Note: The Class and Category fields are mutually exclusive. Use either the Name field or the Number field to identify a customer.

  16. Choose the Submit button.

  17. Choose the Draft radio button to print the Automatic Transactions Batch report only. Choose the Create radio button to print the report and submit the batch.

  18. If you choose Create, check the Print box if you want to print bills receivable.

    Note: You can only print bills receivable that require acceptance. The transaction type assigned to the bill must also contain a format program.

  19. Choose the OK button.

    After you run the batch, you can view and update the bills receivable and their assignments in the Bills Receivable window and the Assignments window.

Related Topics

Transaction Batch Sources, Oracle Receivables Implementation Guide

Batching Transactions for Easy Entry and Retrieval

Automatic Transactions Batch Report

Batching Transactions Using the Bills Receivable Batch Creation Concurrent Program

You can run the Bills Receivable Batch Creation concurrent program directly from the Submit Request window to create bills receivable automatically. You can use bills receivable parameters and selection criteria, and schedule the concurrent program to run periodically.

You can only create bills receivable in Create mode using the Submit Request window. Use the Bills Receivable window to review bills receivable created automatically.

Request Parameters

Enter the following parameters to specify the desired options for the batch. You can enter additional parameters to limit the selection of transactions to exchange for bills receivable. For example, enter a Bills Receivable Receipt Method, Customer Class, or enter a range of transaction numbers, due dates, or transaction dates. Leave a field blank if you do not want to limit the search to transactions matching these criteria.

Print

Enter Yes to print the bills receivable. You can only print bills receivable that require acceptance and that have a format program assigned to the transaction type.

Batch Source

Enter a batch source.

Batch Date

Enter the batch date. The default is the current date.

GL Date

Enter the GL date for bills receivable created with this batch. The default is the current date.

Issue Date

Enter the issue date for bills receivable created with this batch. The default is the current date.

Maturity Date

Enter the maturity date for bills receivable created with this batch. The maturity date cannot be earlier than the issue date. If you leave this field blank, Receivables derives the maturity date from the bills receivable creation receipt method.

Currency

Enter the currency to use for the bill receivable. You can only exchange transactions that have the same currency and exchange rate that you enter here.

Comments

Enter any internal comments for bills receivable created with this batch.

Special Instructions

Enter any special instructions for bills receivable created with this batch.

Exchanging a Transaction for a Bill Receivable

Use the Exchange option in the Actions menu of the Transactions window to exchange a transaction directly for a bill receivable. Choosing the Exchange option runs the Bills Receivable Batch Creation concurrent program to create a bill receivable from the selected transaction.

You can exchange only one transaction per bill receivable using this action. In addition, you can only exchange a completed transaction for a bill receivable.

Prerequisites

To exchange a transaction for a bill receivable:

  1. Navigate to the Transactions window.

  2. Query or enter a completed transaction.

  3. Choose Exchange from the Actions menu.

    Receivables submits the Bills Receivable Batch Creation concurrent program to exchange the completed transaction for a bill receivable.

  4. Save your work.

    After you exchange the transaction for a bill receivable, you can view and update the bill and its assignment in the Bills Receivable window and Assignments window.

Related Topics

Entering Transactions

Exchanging a Bill Receivable for a New Bill Receivable

Use the Exchange option in the Tools menu of the Bills Receivable window or the Bills Receivable Portfolio Management window to exchange an unpaid bill receivable for a new bill receivable.

You can only exchange for the full amount of the original bill. When you exchange an existing bill for a new bill, Receivables assigns a new bills receivable number to the new bill and defaults the maturity date and other existing information from the original bill. You can use the Bills Receivable window to update information and complete the bill.

Receivables updates the status of the original bill to Closed when you complete the new bill, or when you accept the new bill if acceptance is required.

To exchange a bill receivable for a new bill receivable:

  1. Navigate to the Bills Receivable window or the Bills Receivable Portfolio Management window.

  2. Query or enter the bill receivable that you want to exchange.

  3. Choose Exchange from the Tools menu.

    The Exchange window appears with the bill number for the new bill receivable.

  4. Navigate to the Bills Receivable window.

  5. Query the new bill number.

  6. Update the information that you want for the new bill.

  7. Save your work.

Completing a Bill Receivable

Use the Complete Bill button in the Bills Receivable window to complete a bills receivable transaction. To complete a bill receivable, you must:

If the bill requires customer acceptance, completing the bill changes its status to Pending Acceptance. While a bill receivable has the status of Pending Acceptance, Receivables reserves the transactions that are assigned to the bill. When you receive written acceptance from the customer, you can update the bill using the Accept Bill button. See: Accepting a Bill Receivable for more information.

If the bill does not require customer acceptance, completing the bill changes its status to Pending Remittance. Receivables records the first accounting for the bill, the assignments reduce the amount due on the exchanged transactions, and the bill appears in the customer's outstanding balance.

If you are using document sequences, Receivables ignores the Document Number Generation Level system option and generates the document number when you complete the bill receivable. If you want the document number and bill receivable number to be the same, check the Copy Document Number to Transaction Number box in the bills receivable transaction batch source.

To complete a bill receivable:

  1. Navigate to the Bills Receivable window.

  2. Query or enter the bill receivable that you want.

  3. Review the contents of the bill in the Bills Receivable window and the Assignments window to check that all information necessary for completing the bill is correct.

  4. Choose the Complete Bill button.

    Receivables checks the Complete box, changes the status of the bill, and generates the document sequence number, if applicable.

Returning a Bill Receivable to Incomplete Status

You can return a completed bill receivable to the status Incomplete by using the Incomplete Bill button. This action applies only to these types of bills receivable:

or

For more information about when you can return a bill to the status Incomplete, see: Bills Receivable Management.

To return a bill receivable to Incomplete status:

  1. Navigate to the Bills Receivable window.

  2. Query or enter the bill receivable that you want.

  3. Choose the Incomplete Bill button.

    Receivables unchecks the Complete box and changes the status of the bill to Incomplete.

Accepting a Bill Receivable

Use the Acceptance window to enter drawee acceptance information. The Acceptance window is enabled only if a bill requires acceptance and the bill receivable is complete.

Receivables assigns the status Pending Acceptance to completed bills receivable that require drawee acceptance, with no GL date specified. Upon acceptance, Receivables records the first accounting for the bill, the assignments reduce the amount due on the exchanged transactions, and the bill appears in the customer's outstanding balance. The bill is updated with the status Pending Remittance.

To enter acceptance information for a bill receivable:

  1. Navigate to the Bills Receivable window or the Bills Receivable Portfolio Management window.

  2. Query or enter the bill receivable that you want.

  3. Choose the Accept Bill button.

  4. In the Acceptance Date field, enter the date that the customer accepted the bill receivable.

    The acceptance date that you enter becomes the assignment date for the transactions exchanged for the bill.

  5. If necessary, update the acceptance GL date in the Acceptance GL Date field.

    The acceptance GL date that you enter updates the bill GL date and the assignment GL date for the transactions exchanged for the bill. Receivables calculates the acceptance GL date according to the open accounting period rules for the exchanged transactions.

  6. Enter any comments in the Comments field.

Printing a Bill Receivable

You can print bills receivable at different stages of the bill cycle. You can print bills receivable that require drawee acceptance individually or in batch after the bill is completed. You can also print bills receivable when you prepare a bills receivable remittance.

To print a bill receivable, you must:

You can assign a format program to bills receivable transaction types.

If your printed bills receivable require stamps, you must set up stamp values according to the requirements of your tax authority. Prepare stamps that use preprinted forms or continuous stationery before printing your bills.

You can print bills receivable in these ways:

Related Topics

Transaction Types, Oracle Receivables Implementation Guide

Creating a Bills Receivable Remittance Batch

Bills Receivable Stamp Values

Bills Receivable Stamp Values

Use the Stamp Values window to define ranges of bills receivable amounts and their corresponding stamp values. You must define bills receivable ranges and stamp values in the functional currency of your ledger.

Certain countries use stamps to provide legal protection for bills receivable. Depending on country requirements, you can purchase bills receivable stamps individually, as pre-stamped bills receivable documents, or as continuous-feed preprinted bills receivable.

The price of each stamp is based on the value of the bills receivable. The government normally publishes a listing of stamp prices for given ranges of bills receivable. For example, a stamp may cost 1,000 Spanish pesetas for bills receivable between 10,000 and 30,000 pesetas, and 2,000 pesetas for bills receivable between 31,000 and 60,000 pesetas, and so on.

After you define ranges of bills receivable amounts and their corresponding stamp values, you can use the Stamp Values report to determine the number and total cost of stamps required for a given bills receivable transaction batch.

To define bills receivable stamp values:

  1. Navigate to the Stamp Values window.

  2. Select an operating unit.

  3. In the From and To fields, enter the first range of bills receivable amounts.

  4. Enter the Stamp Value that corresponds to this range of bills receivable amounts.

  5. Repeat these steps for each bills receivable range and corresponding stamp value.

    Important: Make sure that the bills receivable ranges do not overlap and that there are no gaps between ranges.

Stamp Values Report

Use the Stamp Values report to review the number and amount of stamps that you must purchase for a given bills receivable batch. The report lists, for each bills receivable amount range, the number and total value of stamps required, with totals for the number of stamps and the stamp amount.

You can run the Stamp Values report before you print a bills receivable batch to determine how many stamps of each denomination you must purchase from your government shop.

Tip: If you are using preprinted bills receivable stationery or continuous-feed bills, you can divide your batches and/or print jobs based on ranges of values to match the preprinted stamp values.

Use the Standard Request Submission windows to submit the Stamp Values report.

Report Parameters

Enter the following parameters to specify the desired reporting options:

Creation Date From: Enter the first bills receivable creation date to include in the report.

Creation Date To: Enter the last bills receivable creation date to include in the report.

Transaction Type: Enter the transaction type to use for the report.

Transaction Batch Name: Enter the transaction batch to use for the report.

Report Headings

<Report Title>: Stamp Values Report.

<Ledger>: The reporting ledger.

Report Date: The report date and time.

Page: The page number.

Creation Date From: The creation date range included in the report.

Transaction Type: The bills receivable transaction type used in the report.

Transaction Batch: The bills receivable transaction batch used in the report.

Column Headings

Amount From: The beginning bills receivable amount range.

Amount To: The ending bills receivable amount range.

Stamp Value: The stamp value for the bills receivable amount range.

Number: The number of stamps for the bills receivable amount range.

Stamp Amount: The total stamp purchase amount for the bills receivable amount range.

Bills Receivable Management

The Bills Receivable Portfolio Management window lets you display bills receivable transactions according to your selection criteria, and provides you with many tools to review, update, and manage the entire life cycle of your bills receivable portfolio.

Bills Receivable View and Analysis

View, analyze, and monitor your bills receivable in the Bills Receivable Portfolio Management window:

Bills Receivable Updates

The life cycle of a bill receivable can vary from bill to bill. To manage your bills receivable, the following activities are available from the Bills Receivable Portfolio Management window:

Accept

Cancel

Eliminate Risk

Endorse

Exchange

Hold

Protest

Recall

Reestablish Risk

Release

Restate

Unpaid

Viewing Bills Receivable

View and manage your bills receivable transactions in the Bills Receivable Portfolio Management window. Analyze bills receivable transactions by status or other criteria, and view the history of actions taken on an individual bill.

The Bills Receivable Portfolio Management window is a folder window that you can customize. Use the Find Bills Receivable window to enter selection criteria for the bills receivable that you want.

To select and view bills receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want to view.

    Note: You cannot select and view bills receivable with the status Incomplete in the Bills Receivable Portfolio Management window. Use the Bills Receivable window to view Incomplete bills receivable.

  3. Select a bill to review its details, assignments, and history. See: Bills Receivable Portfolio Management Window Reference for a description of the fields in this window.

  4. Use the Tools menu and available buttons in the Bills Receivable Portfolio Management window to take action on a bill. See: Updating Bills Receivable for more information.

Bills Receivable Portfolio Management Window Reference

This section provides a brief description of the fields in the Bills Receivable Portfolio Management window.

Transaction Number: The bill receivable transaction number.

Transaction Status: The status of the bill receivable: Pending Acceptance, Pending Remittance, Remitted, Factored, Matured Pending Risk Elimination, Unpaid, Protested, or Closed.

Maturity Date: The date when full payment is due on the bill.

Drawee Name: The name of the drawee who owes the debt on this bill.

Issued by Drawee (check box): If checked, indicates that the bill is a promissory note issued by the drawee.

Signed (check box): If checked, indicates that the bill requires drawee acceptance.

Transaction Type: The bills receivable transaction type that is assigned to the bill.

Acceptance Date: The date that a bill receivable requiring drawee acceptance was accepted by the drawee.

Functional Amount: The functional amount of the bill.

Functional Balance: The functional amount due on the bill.

Balance Due: The entered amount due.

Original Entered Amount: The original amount due.

On Hold (check box): Indicates that the bill is on hold.

Drawee City: The city of the drawee on the bill.

Comments: Any comments that were entered at the time the bill was created and/or completed.

Drawee Contact: The name of the drawee contact on the bill.

Days Late: The number of days after the maturity date that the bill remains unpaid.

Document Number: The document number.

Drawee Account Number: The drawee bank account number that is assigned to the bill.

Drawee Bank City: The city of the drawee bank branch that is assigned to the bill.

Drawee Bank Country: The country of the drawee bank branch that is assigned to the bill.

Drawee Bank Number: The bank number of the drawee bank that is assigned to the bill.

Drawee Branch Name: The name of the drawee bank branch that is assigned to the bill.

Drawee Branch Province/State: The province or state of the drawee bank branch that is assigned to the bill.

Drawee Branch Postal Code: The postal code of the drawee bank branch that is assigned to the bill.

Drawee Category: The drawee customer category.

Drawee Class: The drawee customer class.

Drawee Number: The drawee customer number.

Bill Currency: The bill receivable currency.

Drawee Taxpayer ID: The drawee taxpayer identification number.

Drawee Location: The location of the drawee site.

Magnetic Format Code: The magnetic format code to be used at remittance time.

Selected For Remittance (check box): If checked, indicates that the bill was selected for remittance.

Drawee Postal Code: The postal code of the drawee location.

Last Printed Date: The date that the bill was lasted printed.

Drawee Province/State: The drawee site province or state.

Remittance Receipt Method: The receipt method chosen when the bills was remitted.

Remittance Account Currency: The currency of the remittance bank account.

Remittance Account Name: The name of the remittance bank account.

Remittance Account Number: The number of the remittance bank account.

Remittance Branch Postal Code: The postal code of the remittance bank branch.

Remittance Branch City: The city of the remittance bank branch.

Remittance Branch Country: The country of the remittance bank branch.

Remittance Bank Name: The name of the remittance bank.

Remittance Branch Number: The branch number of the remittance bank.

Remittance Bank Number: The remittance bank number.

Remittance Branch Province/State: The province or state of the remittance bank branch.

Remittance Branch Name: The name of the remittance bank branch.

Last Approved Batch: The name of the last approved remittance batch that contained this bill.

Remittance Batch Date: The date of the remittance batch.

Remittance Method: The remittance method used when the bill was remitted.

Reversal Reason: The reason that the bill receivable was reversed (if applicable).

Risk Elimination Days: The number of risk elimination days on the bill.

Special Instructions: Any special instructions entered on the bill.

Drawee VAT Number: The drawee Value Added Tax identification number.

Drawee Country: The country in which the drawee site is located.

Issue Date: The date that the bill was first issued.

Unpaid Date: The date that the bill was marked as unpaid (if applicable).

With Recourse (check box): If checked, indicates the ownership of the debt.

Selected For Remittance Batch: If the bill is selected for remittance, the name of the remittance batch.

Remittance Allow Override (check box): If checked, indicates that the remittance bank information that is assigned to the bill can be overridden and the bill can be remitted to a different remittance bank account.

Bills Receivable Portfolio Management Window Field Restrictions

The table below shows, for each bills receivable status, the update restrictions on each field in the Bills Receivable Portfolio Management window.

For the explanations of the footnotes that accompany this table, see Field Restrictions Legend.

Field Inc.1 Pend. Accept2 Pend. Remit.3 Fact.4 Mat. Pend. Risk Elim.5 Remit.6 Closed
Accept Date NA Yes No No No No No
Allow Override check box Yes Yes Yes Yes Yes Yes Yes
Amount Yes Yes No No No No No
Comments Yes Yes Yes Yes Yes Yes Yes
Contact Yes Yes Yes Yes Yes Yes Yes
Currency Yes No No No No No No
Rate Yes9 No No No No No No
Rate Date Yes No No No No No No
Rate Type Yes No No No No No No
Doc Number Yes11 No No No No No No
Drawee Name Yes13,15 No No No No No No
Drawee Number Yes13,15 No No No No No No
Drawee Taxpayer ID Yes13,15 No No No No No No
Drawee Location Yes Yes No No No No No
Drawee Address Yes Yes No No No No No
Drawee Bank Details Yes Yes Yes No No No No
GL Date Yes10 NA No No No No No
Issue Date Yes No No No No No No
Maturity Date Yes Yes Yes Yes12 No Yes12 No
Notes Yes Yes Yes Yes Yes Yes Yes
Number No No No No No No No
Print Option Yes14 Yes14 Yes14 Yes14 Yes14 Yes14 Yes14
Remittance Bank Details Yes Yes Yes No No No No
Source No No No No No No No
Special Instructions Yes Yes Yes Yes Yes Yes Yes
Flexfields Yes Yes Yes Yes16 Yes Yes Yes
Type Yes No No No No No No
Incomplete NA Yes17 Yes No No No No
Delete Yes16 No No No No No No

The table below shows, for each bills receivable status, the update restrictions on each field in the Bills Receivable Portfolio Management window.

For the explanations of the footnotes that accompany this table, see Field Restrictions Legend.

Field Endrs.7 Unpaid Protest Cancel Active Posted Selctd. for Remit.8
Accept Date No No No No No No No
Allow Override check box Yes Yes Yes Yes Yes Yes No
Amount No No No No No No No
Comments Yes Yes Yes Yes Yes Yes Yes
Contact Yes Yes Yes Yes Yes Yes Yes
Currency No No No No No No No
Rate No No No No No No No
Rate Date No No No No No No No
Rate Type No No No No No No No
Doc Number No No No No No No No
Drawee Name No No No No No No No
Drawee Number No No No No No No No
Drawee Taxpayer ID No No No No No No No
Drawee Location No No No No No No No
Drawee Address No No No No No No No
Drawee Bank Details No Yes Yes No Yes Yes No
GL Date No No No No No No No
Issue Date No No No No No No No
Maturity Date No Yes No No Yes Yes No
Notes Yes Yes Yes Yes Yes Yes Yes
Number No No No No No No No
Print Option Yes14 Yes14 Yes14 No Yes14 Yes14 Yes14
Remittance Bank Details No Yes No No Yes Yes No
Source No No No No No No No
Special Instructions Yes Yes Yes Yes Yes Yes No
Flexfields Yes Yes Yes Yes Yes Yes Yes
Type No No No No No No No
Incomplete No No No No No No No
Delete No No No No No No No

Field Restrictions Legend

Variable Description
1 Incomplete
2 Pending Acceptance
3 Pending Remittance
4 Factored
5 Matured Pending Risk Elimination
6 Remitted
7 Endorsed
8 Selected for Remittance
9 Unless the functional currency is euro and the currency has a fixed rate relationship with the euro.
10 Unless the bill requires acceptance.
11 Unless the sequence number is manual and the document number has not yet been generated.
12 Unless the current maturity date has passed. Maturity Date > sysdate.
13 Unless the AR: Change Customer on Transaction profile option is set to No.
14 Unless a format is not defined for the transaction type.
15 Unless assignments are for customer transactions that are not related to the drawee, and Allow Payment of Unrelated Invoices is set to No.
16 Unless the System Option Allow Transaction Deletion is set to No.
17 Unless the bill requires drawee acceptance.

Viewing Bills Receivable Assignments

Use the Assignments window to view the transactions assigned to a bill receivable.

To view the transactions assigned to a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose the Assignments button.

  4. Review the transactions assigned to the bill.

Viewing Bills Receivable History

Use the History window to view the history of a bill receivable. The History window has three regions:

To view the history of a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose the History button.

  4. Review the bill's history. See: History Window Reference for a description of the fields in this window.

  5. Select an activity in the Activities region and choose the Details button to review the actual record belonging to this activity.

History Window Reference

This section provides a brief description of the fields in the History window.

Header Region

Displays this information about the bill:

Original Amount: The original amount of the bill receivable transaction.

Receipts: The total receipt amount applied to the bill.

Endorsements: The total endorsement amount applied to the bill.

Exchanges: The total amount exchanged for another bill.

Balance: The total outstanding balance.

Activities Region

Displays this information for each activity:

Number: The receipt, endorsement, or exchanged bill receivable number.

Class: Displays Payment for receipts, Adjustment for endorsements, and Exchange for exchanges.

Date: The date of the displayed activity.

Currency: The currency of the displayed activity.

Amount: The amount of the displayed activity.

GL Date: The GL date of the displayed activity.

Life Cycle Region

Displays this information for each bill receivable event:

Event: The name of the displayed event. Bills receivable events are: Accepted, Canceled, Closed, Deselected for Remittance, Endorsed, Exchanged, Factored, Formatted, Hold, Matured Pending Risk Elimination, Maturity Date Updated, Pending Acceptance, Printed, Protested, Recalled, Reestablished Risk, Released, Restated, Risk Eliminated, Selected for Remittance, Standard Remitted, and Unpaid.

Date: The date of the event.

Comments: Additional information about the event, such as a status changed, either provided by a user or generated by Receivables.

Viewing Bills Receivable Transaction Information

Oracle Receivables records bills receivable as separate transactions.

Use the Account Details window to view detailed information for bills receivable transactions. You can view the due date, number of days late, dispute amount, status, means of payment, and balance due for bills receivable and all other open documents that make up the customer balance.

You can use the Account Details window to review transactions that are assigned, or selected for assignment but not yet assigned, to bills receivable that have the status Pending Acceptance. You cannot perform any activity, such as applying receipts, credit memos, or adjustments, to transactions reserved for assignment that will cause the transaction amount to drop below the value that is reserved for exchange.

Related Topics

Viewing Transactions

Updating Bills Receivable

Use the Bills Receivable Portfolio Management window to update your completed bills receivable.

The specific actions that you can perform on a particular bill receivable depend on the current status of the bill. Use the table below to determine which actions you can perform for a given bill receivable status.

For the explanations of the footnotes that accompany this table, see Updates Legend.

Status Accept Cancel Hold Unhold Recall Risk Elim.1
Pending Acceptance Yes Yes No No No No
Pending Remittance No Yes2 Yes3 Yes4 No No
Standard Remitted No No No No Yes No
Factored Remitted No No No No Yes No
Matured Pending Risk Elimination No No No No No Yes8
Closed No No No No No No
Unpaid No Yes2 Yes3 Yes4 No No
Protested No No No No No No
Endorsed No No No No Yes Yes

Use the table below to determine which actions you can perform for a given bill receivable status.

For the explanations of the footnotes that accompany this table, see Updates Legend.

Status Uneliminate Unpaid Protest Endorse Restate Exchanged
Pending Acceptance No No No No No No
Pending Remittance No Yes3 No Yes2 No No
Standard Remitted No Yes5 No No No No
Factored Remitted No No No No No No
Matured Pending Risk Elimination Yes7 Yes No No No No
Closed Yes7 Yes6 No No No No
Unpaid No No Yes Yes2 Yes Yes2
Protested No Yes No No No No
Endorsed No Yes5 No No No No

Updates Legend

Variable Description
1 Risk Eliminate
2 If the original amount equals the amount due remaining, and if it is not selected for remittance, on hold, or reserved by another bill pending acceptance.
3 If not selected for remittance, on hold, or reserved by another bill pending acceptance.
4 If on hold.
5 If matured.
6 If matured and paid by one receipt or one endorsement adjustment.
7 If previously eliminated from risk (receipt or endorsement).
8 If the receipt has been cleared.

Accepting a Bill Receivable

If a bill receivable requires drawee acceptance (status of Pending Acceptance), enter acceptance information after the drawee returns the signed bill.

To accept a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose Accept.

  4. Enter the Acceptance Date and Acceptance GL Date. These dates must be on or after the bill issue date.

    The acceptance GL date updates the bill GL date and the assignment GL date for the transactions that are exchanged for the bill.

  5. Enter any comments and click OK.

Receivables updates the GL Date with the acceptance GL date and updates the bill status to Pending Remittance.

Canceling a Bill Receivable

Cancel a bill receivable to return the debt to the transactions that were originally exchanged for the bill. You can cancel a bill that is Pending Acceptance, Pending Remittance, or Unpaid. If the bill is Pending Acceptance, canceling the bill releases the exchanged transactions and has no accounting effect. If the bill is Pending Remittance or Unpaid, Receivables unassigns the exchanged transactions and creates reverse accounting entries.

To cancel a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose Cancel.

  4. Enter the Cancellation Date.

  5. If applicable, enter the GL Date. You do not enter a GL date for bills Pending Acceptance.

  6. Enter any comments and click OK.

Receivables updates the bill status to Canceled.

Recalling a Bill Receivable

Recall a bill receivable that has been remitted or endorsed without recourse. Recalling a bill returns the bill to its earlier status of Pending Remittance or Unpaid. When you recall a bill that is Factored with Recourse, Receivables reverses the receipt(s) created when the bill was factored. When you recall a bill that is Endorsed with Recourse, Receivables creates a reversing endorsement adjustment.

To recall a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose Recall.

  4. Enter the Recall Date and GL Date. These dates must be on or after the remittance or endorsement date.

  5. Enter any comments and click OK.

Receivables reverses the receipt or creates a reversing endorsement adjustment, if applicable, and updates the bill to its previous status of Pending Remittance or Unpaid.

Marking a Bill Receivable as Unpaid

On the bill receivable maturity date, the drawee is expected to pay the bill. If payment is not received, you should mark the bill as Unpaid. When marking a bill Unpaid, Receivables updates the status of the bill to Unpaid. The open balance is recorded as a debit to Unpaid Bills Receivable. In addition, Receivables performs different actions depending upon the status of the bill that you are marking as Unpaid:

Note: If any deferred VAT was accounted for at maturity, it is reversed.

You can later restate a bill that was marked as Unpaid. See: Restating a Bill Receivable for more information.

To mark a bill receivable as Unpaid:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose Unpaid.

  4. Enter the Unpaid Date and the GL Date.

  5. Enter the Reason that you are marking this bill as Unpaid.

  6. Enter any comments and click OK.

Eliminating or Reestablishing Risk on a Bill Receivable

Eliminating Risk

You can eliminate risk on matured, factored, or endorsed bills receivable. When you eliminate risk on a factored bill receivable, Receivables reverses the short term debt entry and closes the bill. When you eliminate risk on an endorsed bill receivable, Receivables approves the pending endorsement adjustment and closes the bill.

To eliminate risk on a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose Eliminate Risk.

Reestablishing Risk

You can reestablish risk on a bill that was previously eliminated from risk.

When you reestablish risk on a Closed bill receivable that was factored with recourse, Receivables unapplies the receipt that was created when the bill was factored and applies the receipt to short term debt. The status of the bill is updated to Matured Pending Risk Elimination.

When you reestablish risk on a Closed bill receivable that was endorsed with recourse, Receivables reverses the endorsement adjustment and creates an endorsement adjustment pending risk elimination. The status of the bill is updated to Endorsed.

To reestablish risk on a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose Restore Risk.

Holding or Releasing from Hold a Bill Receivable

Holding

If you place a bill receivable on Hold, Receivables excludes the bill from remittance.

To place a bill receivable on hold:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and click Hold.

Releasing from Hold

You can release a bill receivable that is on hold to make it available again for remittance.

To release a bill receivable from hold:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and click Release Hold.

Endorsing a Bill Receivable

You can endorse a bill receivable and use it as payment against your supplier invoices.

If you endorse the bill receivable with recourse, Receivables updates the status to Endorsed and creates a pending approval endorsement adjustment. If you endorse the bill receivable without recourse, Receivables closes the bill with an approved adjustment and updates the status to Closed.

Important: Additional steps are required in your Payables application to record the endorsement.

To endorse a bill receivable:

  1. Navigate to the Bills Receivable Transactions window.

  2. Query the bills receivable that you want.

  3. Select Endorse from the Tools menu.

  4. If necessary, uncheck the Endorse With Recourse box.

    Note: The AR: Factor/Endorse Bills Receivable Without Recourse profile option controls whether you can uncheck the Endorse With Recourse box. See: Profile Options, Oracle Receivables Implementation Guide.

  5. Enter the Endorsement Activity.

  6. Enter the Endorsement Date and the GL Date.

  7. Enter any Comments.

Exchanging a Bill Receivable

You can exchange an Unpaid bill receivable for a new bill receivable. When you exchange a bill, Receivables creates a new bill with the existing bill assigned to it.

You can assign additional transactions to the new bill, including debit memos that you create to pass on processing charges to the drawee. See: Manually Assigning Transactions to a Bill Receivable for more information.

To exchange a bill receivable for a new bill:

  1. Navigate to the Bills Receivable Transactions window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose the Exchange button. The Exchange window appears.

  4. Choose the OK button.

  5. Use the Bills Receivable window to review and update the transactions assigned to the bill.

Restating a Bill Receivable

When you restate a bill receivable, Receivables reclassifies the bill from Unpaid to Pending Remittance.

To restate a bill receivable:

  1. Navigate to the Bills Receivable Portfolio Management window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose the Restate button.

  4. Enter a Restatement Date.

  5. Enter the GL Date.

  6. Enter any Comments.

Marking a Bill Receivable as Under Protest

In the collection process, the drawee may officially protest the bill receivable. During this time, you can mark the bill as Under Protest. There is no accounting impact.

To mark a bill receivable as under protest:

  1. Navigate to the Bills Receivable Transactions window.

  2. Query the bills receivable that you want.

  3. Select a bill and choose the Protest button.

  4. Enter the Protest Date.

  5. Enter any Comments.

Bills Receivable Reports

Receivables provides you with a number of reports to help you manage your bills receivable activity. There are nine bills receivable reports:

The Bills Receivable By Status report and the Bills Receivable Summary report are RXi reports.

Related Topics

Using Standard Request Submission, Oracle Applications User's Guide

Working with Attribute Sets, Oracle Financials RXi Reports Administration Tool User Guide

Using the RXi Reports Concurrent Program, Oracle Financials RXi Reports Administration Tool User Guide

Bills Receivable Remittance

Remit bills receivable to your remittance bank or other financial institution to initiate the collection process from your customers. Before remitting to a bank, you must create, approve, and format/print bills receivable using a remittance batch.

Receivables lets you record the following types of bills receivable remittances:

When you create a bills receivable remittance, the receipt class determines the remittance processes, and the bills receivable remittance receipt method that is assigned to the receipt class determines the accounting for the bills receivable. Receivables selects qualifying bills receivable for remittance and groups them according to the remittance bank that is assigned to each bill. You can specify additional selection criteria to limit the bills receivable that are selected for remittance. See: Creating a Bills Receivable Remittance Batch for more information about selecting bills receivable for remittance.

You can use one or both of these methods to create a bills receivable remittance:

Creating Receipts for Bills Receivable Remittances

Receivables creates a receipt for each bill receivable that is remitted to the bank. The remittance method for the remittance batch determines when a receipt is created. You create a receipt to record the accounting event of the expected fund transfer.

Standard remittances: Run the Bills Receivable Maturity and Risk program to create receipts and apply them to bills receivable, either at the maturity date plus the number of collection days or at the remittance date plus the number of collection days, whichever comes later. Receivables updates the status of the bill receivable to Closed when the receipt is applied to the bill receivable.

Factored remittances: Receivables creates a receipt when a remittance is approved. For bills receivable that are factored with recourse, the receipt is applied to short-term debt and the status of the bill is updated to Remitted. For bills receivable factored without recourse, the receipt is applied to the bill receivable upon remittance and the status of the bill is updated to Closed.

Note: If you want to use the bill receivable number as the receipt number, check the Receipts Inherit Transaction Numbers box when you define the receipt method for the bills receivable remittance.

Clearing Receipts for Bills Receivable Remittances

The clearing method of the bills receivable receipt class determines when Receivables clears receipts and recognizes cash in the remittance process of bills receivable. You indicate a clearing method when you define the receipt class with a creation method of Bills Receivable Remittance. You enter the number of clearing days and risk elimination days when you define the bills receivable remittance receipt method assigned to the receipt class. Choose one of these clearing methods:

Related Topics

Receipt Methods, Oracle Receivables Implementation Guide

Receipt Classes, Oracle Receivables Implementation Guide

Accounting for Bills Receivable Remittances and Receipts

Bills Receivable

When you Complete a bill receivable (or Accept a bill receivable if it requires acceptance), Receivables creates this journal entry:

DR Bills Receivable
     CR Receivables

Remitted Bills Receivable

When you Remit a bill receivable with a Standard remittance method, Receivables creates this journal entry:

DR Remitted Bills Receivable
     CR Bills Receivable

On Maturity (or Maturity plus the number of collection days if the bill is remitted on or after maturity), Receivables creates this journal entry:

DR Remittance
     CR Remitted Bills Receivable

Note: If the original transactions exchanged for the bill have deferred tax entries, Receivables also creates this journal entry:

DR Interim Tax
     CR Collected Tax

When you Clear the receipt, Receivables creates this journal entry:

DR Cash
DR Bank Charges
     CR Remittance

Factored Bills Receivable with Recourse

When you Factor a bill receivable with recourse, Receivables creates this journal entry:

DR Factored Bills Receivable
     CR Bills Receivable
DR Remittance
     CR Short Term Debt

When you Clear the receipt, Receivables creates this journal entry:

DR Cash
DR Bank Charges
     CR Remittance

If the bill was remitted before maturity and if the original transactions exchanged for the bill have deferred tax entries, Receivables creates this journal entry on Maturity:

DR Interim Tax
     CR Collected Tax

When you Eliminate the Risk on a factored bill receivable, Receivables creates this journal entry:

DR Short Term Debt
     CR Factored Bills Receivable

Factored Bills Receivable without Recourse

When you Factor a bill receivable without recourse, Receivables creates this journal entry:

DR Remittance
     CR Bills Receivable

When you clear the receipt, Receivables creates this journal entry:

DR Cash
DR Bank Charges
     CR Remittance

Endorsed Bills Receivable

When you Endorse a bill receivable without recourse or when you Risk Eliminate a bill receivable endorsed with recourse, Receivables creates this journal entry:

DR Endorsement
     CR Bills Receivable

Note: If the original transactions exchanged for the bill have deferred tax entries, Receivables also creates this journal entry:

DR Interim Tax
     CR Collected Tax

Unpaid Bills Receivable

When you mark a bill receivable as Unpaid, Receivables creates this journal entry:

DR Unpaid Bills Receivable
     CR Bills Receivable

Note: The credit account depends on the last receivable classification of the bill prior to marking the bill as Unpaid.

Important: Additional entries may result if a receipt created during the remittance process is reversed and if deferred VAT was moved to collected tax.

Bills Receivable Remittance Accounting Entries and Statuses

The tables in this section describe the accounting entries and bills receivable statuses throughout the entire remittance and clearing process. Each table shows, for a particular type of remittance, the actions that you can perform on a bill receivable and the corresponding accounting entries and status that Receivables creates.

Before Remittance

This table shows the accounting entries and status of a bill receivable Before Remittance:

Action and Date Accounting Entries Status of Bills Receivable
Assign accounts receivable to a bill receivable DR Bills Receivable
CR Accounts Receivable
Pending Remittance

Standard Remittance

This table shows the accounting entries and statuses of a bill receivable for a Standard Remittance:

Action and Date Accounting Entries Status of Bills Receivable
Approve remittances DR Remitted Bills Receivable
CR Bills Receivable
Remitted
Create receipts on maturity date plus collection days (Directly/Automatic Clearing and By Matching)
DR Cash/ Remittance
DR Bank Fees
CR Remitted Bills Receivable
Closed
Clear receipts (Automatic Clearing and By Matching)
DR Cash
CR Remittance
Receipt Cleared

Remittance Factored with Recourse

This table shows the accounting entries and statuses of a bill receivable for a Remittance Factored with Recourse:

Action and Date Accounting Entries Status of Bills Receivable
Approve remittances DR Factored Bills Receivable
CR Bills Receivable
Factored
Create receipts upon remittance of bills receivable (Direct/Automatic Clearing and By Matching)
DR Cash/ Remittance
DR Bank Fees
CR Short Term Debt
Factored
Clear receipts (Automatic Clearing and By Matching)
DR Cash
CR Remittance
Receipt Cleared
Maturity date None Matured Pending Risk Elimination
Maturity date plus risk elimination days DR Short Term Debt
CR Factored Bills Receivable
Closed

Remittance Factored without Recourse

This table shows the accounting entries and statuses of a bill receivable for a Remittance Factored without Recourse:

Action and Date Accounting Entries Status of Bills Receivable
Approve remittances and create receipts (Direct/Automatic Clearing and By Matching)
DR Cash/ Remittance
DR Bank Fees
CR Bills Receivable
Closed
Clear receipts (Automatic Clearing and By Matching)
DR Cash
CR Remittance
Receipt Cleared

Exporting and Importing Bills Receivable Remittances

Export

Use the Receivables Export function to export the remittance batch information in the Maintain Remittance Batch window to a file.

In the Maintain Remittance Batch window, query a remittance batch that has not yet been approved and display the fields in the Bills Receivable window that are required by the bank. Use the Export function from the Tools menu to save the information of this batch to a file. The bank uses the information in the file to confirm and select bills receivable to include in the remittance batch.

Import

Use the Import API to import data from bills receivable remittance batches that were confirmed by banks or created in another system. You can call the Import API through a feeder program or a customized user window. After importing the data into Receivables, you can create, approve, and format/print bills receivable remittance batches.

When you import data into Receivables, the Import API performs a set of validations to ensure that the Remittance Bank Number, the Remittance Bank Branch Number, and the Remittance Bank Account Number correspond to a valid remittance bank. The Import API validates these items:

Related Topics

About Remittances

Creating a Bills Receivable Remittance Batch

Use the Remittances window to create a bills receivable remittance batch. All bills receivable with the status Pending Remittance are eligible for selection. In creating a bills receivable remittance batch, Receivables uses the currency and the remittance bank information to select bills receivable. You can specify additional selection criteria to limit the bills that are selected for remittance.

Note: Bills receivable with the status Unpaid are eligible for selection if the Include Unpaid Status box is checked in the Criteria tabbed region.

Based on the remittance bank information of the batch, Receivables selects bills receivable that have:

Note: You can change the batch remittance bank information after the remittance batch is created. However, you will receive a warning if the remittance bank of any bill receivable in the batch is different from the new remittance bank of the batch, unless the Allow Override box is checked on that bill receivable.

You can create a bills receivable remittance batch using the Auto Create method or the Manual Create method. Auto Create selects all bills receivable that meet the selection criteria of the batch. Manual Create gives you the option to review the bills receivable and change the bills selected before creating the batch.

There are three steps to creating a bills receivable remittance batch:

1. Create: Create a bills receivable remittance batch using the specified selection criteria.

2. Approve: Initiate the accounting event for the specific type of bills receivable remittance.

3. Format/Print: Format bills receivable remittance batches on magnetic media to send to your bank (or choose Print to print bills receivable on paper).

With either creation method (Auto Create or Manual Create) you can also create, approve, and format/print remittance batches in a single step.

Process Status

You can track the progress of a bills receivable remittance batch by referring to the batch process status. Valid statuses are:

Selecting Bills Receivable for Remittance

When you create a remittance batch, Receivables validates the status, currency, and remittance bank information of the bills receivable included in the batch. Receivables then selects bills receivable in maturity date order, starting with the earliest maturity date.

Note: Once a bill receivable is selected for a remittance batch, you cannot apply customer payments or other activities to the bill, or select the bill for another remittance batch.

Prerequisites

To create a bills receivable remittance batch:

  1. Navigate to the Remittances window. The Batch Type displayed is Remittance Bills Receivable. You cannot change the Batch Type.

  2. Select an operating unit.

  3. If your Receipt Source does not specify Automatic Batch Numbering, enter a unique Batch Name or number. Otherwise, Receivables assigns a number when you save. See: Receipt Sources, Oracle Receivables Implementation Guide.

  4. Enter the Currency for this batch. The default is your functional currency, but you can change it. You can only group bills receivable with the same currency into a remittance batch.

  5. Enter the Remittance and GL Dates. The default Remittance Date is the current date, but you can change it. The default GL Date is the current date. However, if the current date is not in an open period, then the default is the last date of the most recent open period. The GL Date must be in an open or future period. The GL Date determines when the remittance batch is posted to General Ledger.

  6. If your format requires that you submit to the remittance bank printed bills receivable along with the magnetic transmission, check the Include Printed Bills Receivable box. This box is required if you are using the Spanish Bills Receivable CSB32 Template for the remittance.

  7. Choose a Remittance Method. The default is Factoring. Choose Standard to remit this batch to the bank for collection of the bills receivable on maturity date; or choose Factoring to borrow money against the bills receivable before maturity date.

    Note: If you choose Factoring, the With Recourse box is checked by default. Use this check box to indicate whether the bank has the right of recourse in the event a customer defaults on the bills receivable. The box is unchecked if you choose Standard.

  8. Choose a Receipt Class. The list of values displays only receipt classes with a creation method of Bills Receivable Remittance and a Remittance Method for the batch. The receipt class determines the processing steps of the remittance.

  9. Choose a Receipt Method. The list of values displays only receipt methods assigned to the Receipt Class with a Remittance Method for the batch. You can select only active receipt methods for remittances.

  10. In the Media Reference field, enter your user-defined reference to include on a magnetic transmission of the remittance to the bank (optional).

  11. Enter Remittance Bank information for this batch. You can only select a remittance bank that has bank accounts assigned to the receipt method selected for this remittance batch. The default is the primary remittance bank account of the receipt method, if the primary remittance bank account is in the same currency as that of the remittance batch.

  12. Choose the Print Program. Receivables uses the Print Program for the print format on paper. The default is the print program that you selected for the remittance bank, with the remittance bank assigned to receipt method of this batch. You can override the default for this program.

  13. Enter the Deposit Number reference to include in the magnetic transmission of the remittance batch (optional).

  14. Enter any Comments about this batch.

    Note: The Count and Amount fields display the number and total amount of bills receivable selected for this remittance batch. Receivables assigns a unique Request ID number for your concurrent request every time you run a task or tasks from the Remittance Batch Actions window. Use the Request ID to check the status of your remittance process in the View Requests window.

  15. Open the Selection Criteria tabbed region, and enter selection criteria to create a remittance batch for specific bills receivable transactions or drawees (optional). Leave a field blank if you do not want to limit your query. See: Selection Criteria Tabbed Region Field Reference.

  16. Choose the Auto Create button or the Manual Create button. If you choose the Auto Create button, go to step 18.

  17. Manual Create lets you review, in the Maintain Remittance Batch window, bills receivable that meet the selection criteria of this batch. Check the Select box to include a bill receivable in the batch, or choose bills receivable from the list of values. See: Maintaining Bills Receivable Remittances.

  18. Choose the Actions button.

  19. In the Remittance Batch Actions window, check the boxes to perform the following tasks:

    Tip: To create a bills receivable remittance, you need to Create, Approve, and Format/Print. You can perform all three tasks in one step.

  20. Choose the OK button. Receivables generates a batch Name if your Receipt Source specifies Automatic Batch Numbering. Receivables displays the Process Status of your batch and a unique Request ID number for your concurrent request. Use the Request ID number to check the status of your remittance batch in the View Requests window.

    Important: If your batch has a status of Started Creation and the concurrent process terminates, you must delete the batch and resubmit the bills receivable remittance creation process.

    Tip: Use the Bills Receivable Remittance Batch management report to review the status of your bills receivable remittance batch.

Selection Criteria Tabbed Region Field Reference (All fields are optional)

Remittance Minimum Total: Enter a minimum amount for this remittance batch. Receivables does not create a remittance if the total amount of the selected bills receivable is less than the minimum total specified for the batch.

Remittance Maximum Total: Enter a maximum amount for this remittance batch. Bills receivable with the earliest maturity dates are selected first.

To ensure that the total amount of bills receivable is as close to the maximum total as possible, Receivables selects a bill receivable for inclusion in the batch if the bill maturity date is within the maturity date range of the batch, and if including the bill does not cause the remittance total to exceed the maximum amount.

Bills Receivable Transaction Type: Specify the bills receivable transaction types to include in the batch.

Bills Receivable Maturity Dates: Select bills receivable by a range of maturity dates.

Bills Receivable Numbers: Select bills receivable by a range of bill numbers.

Bills Receivable Amounts: Select bills receivable by a range of bill amounts.

Drawee Issued: Check this box, and leave the Signed and Unsigned boxes unchecked, to include only bills that are issued by drawee.

Signed: Check this box to include only bills receivable that require drawee acceptance. Leave the box unchecked to include only bills receivable that do not require drawee acceptance.

Unsigned: Check this box, and leave the Drawee Issued and Signed boxes unchecked, to include only unsigned bills receivable.

Include Unpaid Status: Check this box to include bills receivable with the status of Unpaid.

Drawee Names: Select bills receivable by a range of drawee names.

Drawee Numbers: Select bills receivable by a range of drawee numbers.

Drawee Classes: Select bills receivable by a range of drawee customer classes.

Drawee Bank: Select only bills receivable for drawees with the specified drawee bank name.

Drawee Branch: Select only bills receivable for drawees with the specified drawee bank branch.

Bills Receivable Sort Criteria: The primary sort criteria for the selected bills receivable is maturity date in ascending order. You can specify additional sort criteria, in ascending or descending order, by bills receivable transaction Number or Amount, or by bills receivable Transaction Type.

Drawee Sort Criteria: You can sort in ascending or descending order using one of the Drawee selection criteria. This sort comes after the maturity date and bills receivable sort criteria.

Related Topics

Creating Remittance Batches

Entering Receipts

Approving Remittance Batches

Factoring Remittances

Manually Creating a Remittance Batch

Selecting Bills Receivable for Remittance

Maintaining Bills Receivable Remittances

Use the Maintain Remittance Batch window to update the selection of bills receivable in a remittance batch. Once you are satisfied with the bills that are selected, you can submit a request to create, approve, and format/print the remittance.

You can select and deselect bills receivable for a remittance batch in the Maintain Remittance Batch window until the batch is approved. Depending on the remittance method, approving a remittance batch updates the status of the bills receivable from Pending Remittance to either Remitted or Factored. Use the Bills Receivable Portfolio Management window to manage bills receivable remittances after they are approved.

You navigate to the Maintain Remittance Batch window from the Remittances window. There are two ways to navigate to the Maintain Remittance Batch window:

or

To maintain bills receivable remittances:

  1. Navigate to the Remittances window.

  2. Query a remittance batch and choose the Maintain button. Go to step 4.

  3. Enter a new remittance batch and choose the Manual Create button. See: Creating a Bills Receivable Remittance Batch.

  4. Choose Bills Receivable Numbers from the list of values. You can only query bills receivable that have the same currency and remittance bank as the remittance batch, unless the Allow Override box is checked for the remittance bank.

  5. Check the Select box to include bills receivable in this remittance batch. Receivables updates the Remittance Amount and Count for this batch. To deselect a bill receivable, uncheck the Select box.

  6. When you are satisfied with your selections, choose the Actions button to open the Remittance Batch Actions window.

  7. In the Remittance Batch Actions window, you create, approve, and format/print the remittance batch. Depending upon the function security set up by your system administrator, you may be able to perform all three of these tasks at the same time. Choose from these tasks:

  8. You can update the selection of bills receivable for this batch until the remittance is approved.

Formatting and Printing Bills Receivable Remittances

You format bills receivable remittances on magnetic media for transmission to your remittance bank. You can also print the bills receivable document on paper for remittance purposes. You can format or print bills receivable remittance batches as often as you need to both before and after approval.

You select the print program when creating a bills receivable remittance batch. You can assign a print program to a bills receivable remittance by entering a print program in the Remittance Print field in the Formatting Programs region of the Remittance Banks window, or in the Print Program field in the Remittances window. Receivables prints the bills receivable using the print program.

You can also specify a printing program when you assign a remittance bank to a bills receivable remittance receipt method. See: Defining a Bills Receivable Remittance Receipt Method, Oracle Receivables Implementation Guide.

Oracle Payments provides you with the ability to configure and format electronic files for submission to financial institutions. See: Enabling the Funds Capture Process, Oracle Receivables Implementation Guide.

To format or print a remittance batch:

  1. Navigate to the Remittances window.

  2. Navigate to the Maintain Remittance Batch window by querying an existing remittance batch or creating a new remittance batch. See: Maintaining Bills Receivable Remittances.

  3. In the Maintain Remittance Batch window, choose the Actions button.

  4. Check the Format box to format the bills receivable.

  5. Check the Print Bills box to print the bills receivable on paper.

Payments Received Prior to Remittance Approval

If a customer drawee makes a payment prior to a bills receivable remittance batch being approved, you can either:

or

Bills Receivable Maturity and Risk Program and Report

Use the Bills Receivable Maturity and Risk program and report to create and apply receipts for standard remitted bills receivable, and to apply receipts and eliminate risk on bills receivable factored with recourse. The report lists the adjustments to each bill receivable and shows all receipts that were cleared by the program run.

You can run the Bills Receivable Maturity and Risk program to accomplish a number of different tasks in relation to bills receivable remittances. These tasks are:

For standard remitted bills receivable, Receivables both creates the receipt and applies it to the bill receivable. The apply date is the same as the receipt date. Receivables normally performs these operations on the bill maturity date. If the bill was remitted with insufficient time for the bank to collect the funds from the drawee by the maturity date, then Receivables performs these operations on the remittance date plus the number of remittance bank collection days. You can clear receipts for standard remitted bills receivable manually, or use the Automatic Clearing program to clear receipts that have a clearance method of Automatic Clearing.

For bills receivable factored with recourse, Receivables applies receipts created at the time of remittance to bills receivable and eliminates the risk on each bill. The apply date is the bill receivable maturity date plus the number of risk elimination days.

Use the Standard Request Submission windows to submit the Bills Receivable Maturity and Risk program and report.

Report Parameters

Enter the following parameters to specify the desired reporting options:

GL Date: Enter the GL date for the transactions generated by the program and report. You can enter any date in an open GL period.

Effective Date: Enter the effective date for this program and report. Receivables performs all operations on bills receivable based on this date. If you do not enter a date, Receivables uses the current date.

Transaction Type: Enter a bills receivable transaction type to include bills receivable of this type only.

GL Date From: Enter the first bills receivable GL date to include in the program and report.

GL Date To: Enter the last bills receivable GL date to include in the program and report.

Maturity Date From: Enter the first bills receivable maturity date to include in the program and report.

Maturity Date To: Enter the last bills receivable maturity date to include in the program and report.

Include Endorsed: Enter Yes to include endorsed bills receivable. Enter No to exclude endorsed bills receivable.

Include Factored: Enter Yes to include bills receivable factored with recourse. Enter No to exclude factored bills receivable.

Include Remitted: Enter Yes to include remitted bills receivable. Enter No to exclude remitted bills receivable.

Report Headings

<Ledger>: The reporting ledger.

<Report Title>: Bills Receivable Maturity and Risk.

Report Date: The report date and time.

Request ID: The concurrent request ID.

Page: The page number.

Column Headings

Currency: The bill receivable currency.

Bills Receivable Number: The bill receivable number.

Customer Name: The customer drawee name.

Bills Receivable Date: The bill receivable maturity date.

Adjustment Number: The bill receivable adjustment number.

Amount: The bill amount.

Functional Amount: The bill amount in the functional currency.

Reversing and Unapplying Receipts for Bills Receivable

Use the Receipts workbench to reverse or unapply receipts for bills receivable, if the receipts are applied to the bills receivable and not to short-term debt. You can reverse or unapply receipts that were created for payments received from customer drawees or receipts that were created from the remittance process.

Note: For bills receivable factored with recourse, receipts are applied to short-term debt before the bill maturity date plus risk elimination days. Use the Bills Receivable Portfolio Management window to recall bills receivable and reverse the receipt applications.

Reversing Receipts for Bills Receivable

When you reverse a receipt for a bill receivable, Receivables automatically creates reversal journal entries for the receipt application.

Unapplying Receipts for Bills Receivable

When you unapply a receipt for a bill receivable, Receivables automatically creates reversal journal entries for the receipt application.

Related Topics

Automatic Clearing for Receipts

Reversing Receipts

Bills Receivable Management