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Thursday, February 3, 2011

Oracle Receivables Transaction Types R12


Below post will give details about Transaction Types in Oracle Receivables R12. We have consolidated the information provided here from various sources and our self learning .        
                                                                                       
In which order Transaction types have to be defined?
1.       Credit memo
2.      Invoice
3.      Debit memo
4.      Chargeback
5.      Deposit
6.   Guarantee


How to define Transaction types in Receivables?

Navigation:

Example Invoice Transaction Type Screen:

Example Credit MemoTransaction Type Screen:

Details about the columns given in the above screens:

Fields
Description
Class
Categorize transaction types by assigning them to a
class of Invoice, Credit Memo, Debit Memo, Deposit,
Guarantee, or Chargeback. Transaction types are
displayed in windows as lists of values
Creation
Sign
Positive, Negative, or Any Sign for initial sign of
transaction. Positive required for guarantees and
deposits
Transaction
Status
Assign a status of Open, Closed, Pending, or Void to
this transaction
Note: When creating transactions via Autoinvoice,
even if  you use a transaction type that is setup with
 Transaction Status = Closed, once the data is
interfaced, it will have an OPEN status.
Autoinvoice does not provide a feature to interface
CLOSED or INCOMPLETE transactions”.
Printing
Option
Specify whether to print transactions with this
transaction type
Terms
default payment terms for this transaction, this field
 is disabled when Class is Bills Receivable or Credit
memo
Open
 Receivable
Select this check box to have transactions update
customer balances and aging reports. Required for
 deposits and guarantees. This simply indicates
whether this transaction's balance impacts a
Customer's Receivable balance
Post to GL
Select this check box to post transactions with this
transaction type to the Oracle General Ledger.
Required for deposits and guarantees
Allow
Freight
indicates whether or not you can associate freight to
this transaction type
Default
Tax
 Classification
defaults tax classification code for this transaction.
This value is only relevant in release 11.5 or a release
12 instances that are using E-business tax setups
defaulted from an upgraded release 11.5 instance
Natural
Application
Only

Restrict the direction in which invoices, debit memos,
deposits, guarantees, credit memos, and on-account
credits can be updated by applications entered against
them.
Natural application does not apply to adjustments and
chargebacks. If Natural Application Only is selected,
clear the Allow Overapplication check box
Allow
Over
application
Allow items to be overapplied. Check box defaults to
cleared for guarantees and deposits. If this check box
is selected, clear Natural Application Only check box.
In other words, activities against this transaction can
cause the sign of the balance to change Example: an
original positive amount ($150), can change to
negative amount (-$50) due to receipt applications
Interaction
between
“Natural
Application
Only” and “Allow
Over application”

"Natural Application Only" Checked and
"Allow Overapplication" Not Checked
Oracle Receivables allows any application, other than
adjustments and chargebacks, that reduces the
transaction amount toward or to zero without
changing the sign of the transaction. 
"Natural Application Only" Unchecked and
"Allow Overapplication" Checked or
Unchecked
Oracle Receivables allows any application that
reduces or increases the transaction, even if the
application changes the sign of the transaction.
Receivable
 and
Revenue
 accounts
for all classes of transaction types
Freight Account
if Allow Freight is selected and the transaction type
class is set to Invoice, Debit Memo, Credit Memo, or
Chargeback.
Clearing Account
if the transaction type class is set to Invoice, Debit
Memo, Credit Memo, or Chargeback. The account
holds differences between the revenue amount and
selling price (pro-rated discounts from Oracle Order
Entry).
Unbilled Account
if the transaction type class is set to Invoice, Debit
Memo, Credit Memo, or Chargeback. Used when
billing in arrears
Unearned Account
if the transaction type class is set to Invoice, Debit
Memo, Credit Memo, or Chargeback. Used when
billing in advance.
Tax Account
if Tax Calculation is selected and the transaction type
class is set to Invoice, Debit Memo, Credit Memo, or
Chargeback

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