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Receivables provides the following invoicing rules:

• Bill in Advance: Use this rule to recognize your receivable immediately.

• Bill in Arrears: Use this rule to recognize the receivable at the end of the revenue recognition schedule.

Prerequisites

   Define transaction types

   Define AutoAccounting

   Define transaction batch sources

   Set up document numbering (optional)

   Define invoicing and accounting rules

   To enter an invoice with rules:

1. Navigate to the Transaction or the Transactions Summary window.

2. Enter general information for this invoice. See: Entering Transactions.

3. Choose an Invoicing Rule of In Advance or In Arrears. Once you save this invoice, you cannot update this field, even if no value has been entered.

Attention: Receivables saves your invoice information when you choose the Line Items button.

4. Choose Line Items, then enter the Item, Quantity, and Unit Price for this item. Receivables automatically calculates the total Amount.

Note: You can use standard memo lines instead of items if, for example, you have not installed Oracle Order Entry or Oracle Inventory. To use memo lines, place your cursor in the Description field, then enter the memo line or select from the list of values. See: Standard Memo Lines.

Receivables displays a default Tax Code according to the tax hierarchy you defined in the System Options window; otherwise, you must enter a Tax Code for this item. You can override the default tax code if the profile option Tax: Allow Override of Tax Code is set to Yes.

5. Open the Rules alternative region. Enter an Accounting rule, a Duration, and the First Date to start recognizing revenue for this invoice line.

If you enter an accounting rule of variable duration, enter the number of general ledger periods over which you want to distribute revenue for this invoice line in the Duration field. If you enter an accounting rule of fixed duration, Receivables displays the default Duration for this rule.

6. To view the account sets that AutoAccounting has assigned to your invoice lines, choose Accounting.

7. To view the account sets for a single invoice line, open the Sets for this Line alternative region. To view the accounting information for all of your invoice lines, open the Sets for All Lines alternative region.

Note: The Revenue Recognition program uses the account sets to determine your revenue accounts. You must run the Revenue Recognition program to create your revenue accounts and generate the actual distribution lines. See: Recognizing Revenue.

8. To update accounting information, enter the Class, GL Account, or the percentage to distribute to each account. These changes will only affect periods in which Revenue Recognition has not yet run.

9. Save your work.

See Also

Importing Invoices with Rules