Automatic Receipts (Oracle Receivables Help)


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Automatic Receipts

Instead of manually entering receipts, you can use the Receivables automatic receipts feature to automatically generate receipts for customers with whom you have predefined agreements. These agreements let you collect payments on time by transferring funds from the customer's bank account to yours on the receipt maturity date. You can also manage your cash flow by deciding when, where, and how much you should remit to your bank.

Automatic receipts also lets you manage your customer risk and reconcile bank statements with your accounts receivable system. You can decide how you wish to process the receipts from creation to remittance and risk elimination.

The Automatic Receipts feature satisfies the many variations of bank remittance processing, such as Bills of Exchange, Direct Debits, Letras Aceptadas (Spain), Tratte Accettate (Italy), Lettre de Change Releve, and Credit Prelevement Automatique (France).

Once created, automatic receipts can be reversed and reapplied in the same way as manual receipts.

Note: In Release 11 of Oracle Receivables, you can only apply cross currency receipts using the Applications or the Mass Apply windows. You cannot create cross currency receipt applications using Automatic Receipts. For more information, see: Cross Currency Receipts.

Creating automatic receipts involves three steps:

Create: Select the invoices to include in your automatic receipts.

Approve: Update, delete, and approve the receipts that you have selected.

Format: Format your automatic receipts onto paper to send to your customer for confirmation or notification before remitting them to your bank on either paper or magnetic media. This step is optional, as it depends upon the type of automatic receipt you create.

These can be submitted as one step or individually in three different steps.

The following diagram provides an overview of the Automatic Receipts and Remittance processes.

Automatic Receipts

See Also