Description
Invoices and Credit Memos in Oracle AR:
Invoice: A document that will convey how much the customer has to pay for the goods and services he has bought and due date for paying the amount.
Credit Memo: Negative amount to decrease the balance of the invoice.
Balance of Invoice: The amount that the customer has to pay
Manual AR Invoice.
Please find the below steps for creating AR Transaction with GST
Responsibility: India Local Receivables
Step 1:Navigation> Oracle Receivables > Transactions > Transactions
Provide the Source,
Step 2:Select the DFF
Click on ok
Step 3:Provide the Ship to and Bill to Address and click on the line items.
Provide the Description, Quantity, and Unit Price.
Click on Distributions.
Provide the GL Code Combination and Amount.
Save the screen.
Step 4:Come back to Transactions screen and click on Tools > India Tax Details.
Provide Tax Category, Organization, Location, Intended user, and SAC Code.
Apply and Save, make sure that the tax lines get defaulted in the below lines.
Save
Click on Complete
Step 5:Process Create Accounting
Manual Credit Memo:
Responsibility: India Local Receivables
Navigation: Oracle Receivables > Transactions > Transactions
Select Source, Class (Credit Memo)
Provide Ship to and Bill to Address.
Provide the information in the lines.
Click Distributions.
Provide the account code combination and amount.
Save it
Go back to Transactions Screen and click on Tools > India Tax Details.
Provide the information and apply and save.
Make sure that the tax lines get populated.
Select the Reason.
Save
Click complete.
Process Create Accounting.
Accounting Entry
Manual Debit Memo:
Responsibility: India Local Receivables
Navigation: Oracle Receivables > Transactions > Transactions
Provide Source, Class, Ship to, and Bill to address.
Click on DFF and click on Debit note.
Click ok
Click on Line Items
Provide Description, Quantity and amount.
Click on Distributions
Provide the account code and amount and save
Go back to Transactions screen and click on Tools > India Tax Details.
Provide the Tad category, Intended user and Sac code, and save.
Make sure that the tax lines got populated and click on Apply.
Come back to the Transactions screen and complete the transaction.
Process Create Accounting
Accounting Entry
queries?
Do drop a note by writing us at doyen.ebiz@gmail.com or use the comment section below to ask your questions.
