- Accounts receivable is an asset account in the general ledger that documents money owed to a business by customers who have purchases goods or services on credit.
- Accounts receivable can be contrasted with accounts payable, a liability account in the GL that documents money the business owes for the purchase of goods or services.
Oracle Receivables Provides 4 integrated workbenches to perform most of your day–to–day Accounts Receivable operations.
- Receipts Workbench -> You can use the Receipts Workbench to perform most of your receipt–related tasks
- Transactions Workbench -> to process your invoices, debit memos, credit memos, on–account credits, chargebacks, and adjustments.
- Collections Workbench -> The Collections Workbench lets you review customer accounts and perform collection activities such as recording customer calls and printing dunning letters.
- Bills Receivable Workbench -> The Bills Receivable Workbench lets you create, update, remit, and manage your bills receivable.
- Define System Options
- Define Transaction Flexfield Structure
- Define Sales Tax Location Flexfield Structure
- Define AutoCash Rule Sets
- Define Receivables Lookups
- Define Invoice Line Ordering Rules
- Define Grouping Rules
- Define Application Rule Sets
- Define Payment Terms
- Define AutoAccounting
- Open or Close Accounting Periods
- Define Transaction Types
- Define Transaction Sources
- Define Collectors
- Define Approval Limits
- Define Remittance Banks
- Define Receivables Activities
- Define Receipt Classes
- Define Receipt Sources
- Define Payment Methods
- Define Statement Cycles
- Define System Profile Options
- Define Salespersons
- Define Customer Profile Classes
- Define Customers
- Define Remit–To Addresses
Define System Options:
Data gets stored in AR_SYSTEM_OPTIONS.
Navigation: Receivables –> Setups –> System –> System Options.
Define AutoCash Rule Sets:
Data gets stored in AR_AUTOCASH_HIERARCHIES
Navigation: Receivables –> Setups –> Receipts–> AutoCash Rule Sets.