oracle fusion Receivables plays a major role in the Order to Cash Cycle process it can be used to generate invoices and other transactions and to maintain the entire cycle of billing customers and processing customer payments.
oracle fusion financials Accounts Receivable is a legally enforceable maintain for payment held by a business for products or goods supplied that customers have ordered but not paid for goods. These are generally in the form of invoices created by a business and deployed to the customer for payment process within an approved time period. Accounts Receivable is shown on a balance sheet as a fixed asset. It is one of the processes of accounting transactions which deals with the billing of a customer ordered products and services.
The Order to Cash Cycle flow begins with the ordering process and ends with the receipt of payment for ordered goods and reconciling the bank statement.
The Order to Cash flow includes following activities:
1. Order: The Purchase Order is entered with information that includes the customer details, shipping address, a bill to, payment details, product order type, price list, and warehouse. Then the purchasing order is booked and the order proceeds through the workflow process.
2. Shipping: The Order is pick released, which generates the move order of an item for the staging area. Once the item is moved from sub inventory into the staging area, it is ready to be placed on a shipping truck. After this, the shipment confirmation process is continued.
3. Billing: Auto Invoice imports invoices, credit memos, and on-account credits from another system into Fusion Receivables in which invoices are printed and sent to the ordered customer.
4. Invoice/Revenue: Revenue recognition manages the income processing.
5. Receipt: When payment for an order is received, a receipt is generated and posted in the Receivables Subledger.
6. Collections: When necessary, Advanced Collections manages the collection efforts until payment for an order is received.
7. Bank Reconciliation: In Cash Management, the system takes information from posted receipts and matches this information to the bank statement for bank reconciliation.
8. oracle fusion training provided at ERPTREE
oracle fusion financials Accounts Receivable is a legally enforceable maintain for payment held by a business for products or goods supplied that customers have ordered but not paid for goods. These are generally in the form of invoices created by a business and deployed to the customer for payment process within an approved time period. Accounts Receivable is shown on a balance sheet as a fixed asset. It is one of the processes of accounting transactions which deals with the billing of a customer ordered products and services.
The Order to Cash Cycle flow begins with the ordering process and ends with the receipt of payment for ordered goods and reconciling the bank statement.
The Order to Cash flow includes following activities:
1. Order: The Purchase Order is entered with information that includes the customer details, shipping address, a bill to, payment details, product order type, price list, and warehouse. Then the purchasing order is booked and the order proceeds through the workflow process.
2. Shipping: The Order is pick released, which generates the move order of an item for the staging area. Once the item is moved from sub inventory into the staging area, it is ready to be placed on a shipping truck. After this, the shipment confirmation process is continued.
3. Billing: Auto Invoice imports invoices, credit memos, and on-account credits from another system into Fusion Receivables in which invoices are printed and sent to the ordered customer.
4. Invoice/Revenue: Revenue recognition manages the income processing.
5. Receipt: When payment for an order is received, a receipt is generated and posted in the Receivables Subledger.
6. Collections: When necessary, Advanced Collections manages the collection efforts until payment for an order is received.
7. Bank Reconciliation: In Cash Management, the system takes information from posted receipts and matches this information to the bank statement for bank reconciliation.
8. oracle fusion training provided at ERPTREE