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Purchasing and Inventory Accounts commonly defined during Setup

1. Purchasing:
Financial Options
Accounting Information
· Liability Account
· Prepayment Account
· Discount Taken Account
· Rate Variance Gain Account
· Rate Variance Loss Account
Purchasing Options
Accruals
· Expense AP Accrual Account
Receiving Options
Receiving Account (need one account per inventory organization; they can be the
same).
2. Inventory:
Define Organization Parameters - All accounts in this section are required for e
ach inventory organization; they can be the same between orgs.
· Inter-Org Transfer Accounts (required for setup)
· Inter-Org Receivable Account
· Inter-Org Payable Account
· Inter-Org Purchase Price Variance Account
· Intransit Inventory Account
Valuation Accounts
· Material Account
· Outside Processing Account (this won t be used, so a suspense account is fine)
· Material Overhead Account (this won t be used, so a suspense account is fine)
· Overhead Account (this won t be used, so a suspense account is fine)
· Resource Account (this won t be used, so a suspense account is fine)
Other Default Accounts
· Purchase Price Variance Account
· Invoice Price Variance Account
· Inventory Accrual Account
· Encumbrance Account (this won t be used, so a suspense account is fine)
· Expense Account
· Sales Account
· Cost of Goods Sold Account (this is a default; each item can have a COGS account
as well)
· Average Cost Variance Account (this probably won t be used, so a suspense account
is fine)
Define Subinventory - All accounts in this section are required for each subinve
ntory in each org; they can be the same as the org level, and can be the same be
tween subinventories.
Subinventory Accounts
· Material Account
· Outside Processing Account (this won t be used, so a suspense account is fine)
· Material Overhead Account (this won t be used, so a suspense account is fine)
· Overhead Account (this won t be used, so a suspense account is fine)
· Resource Account (this won t be used, so a suspense account is fine)
· Expense Account
· Encumbrance Account (this won t be used, so a suspense account is fine)
Define Freight Carriers - Need an account for each carrier defined; they can all
be identical, overlapping (Ground account vs. Express account) or unique; freig
ht carriers are optional, and may not be set up.
Define Inter-Org Shipping Information
· Inter-Org Transfer Credit Account
· Inter-Org Receivable Account
· Inter-Org Payable Account
· Inter-Org Purchase Price Variance Account
· Intransit Inventory Account
Define Overhead
· Absorption Account
Define Item - need an account code for each item defined; they can be identical,
overlapping, or unique; these accounts are optional since they will default fro
m the subinventory or organization
· Cost of Goods Sold Account
· Encumbrance Account (this won t be used, so a suspense account is fine)
· Expense Account
· Sales Account

Posted by Seetharaman Radhakrishnan 0 comments


Labels: Oracle Inventory, Oracle Purchasing
Troubleshooting Guide - Create Release against Blanket PO
You have 3 basic choices for the requisitions created by this process:
1. Release against a blanket PO
2. Autocreate into POs
3. Release as standard PO (but you must have a quotation to use instead of a bla
nket -- pricing has to come from one or the other).
The general process for release against a blanket (or quotation) is:
1. Create a blanket PO with lines for all parts to be sourced. Enter a price for
each line. (Or, enter a quotation).
2. Define a sourcing rule (Purchasing > Supply Base > Sourcing Rules)
Enter a name for the sourcing rule.
Org = your org name
Type = buy from
Supplier = name of supplier on blanket PO or quotation.
Supplier site = name of supplier site on blanket PO or quotation.
Allocation = 100% (must be 100%)
3. Assign the sourcing rule to an Assignment Set (Purchasing > Supply Base > Ass
ign Sourcing Rules)
Enter an Assignment Set Name (for example "MRP Planned Items"
Assigned To (I usually pick Item/Organization)
Org = your inventory org code
Item/Category = part being sourced
Type = sourcing rule
Sourcing Rule = name you created in Step 2
4. You must then enter this Assignment Set Name at the responsibility level for
the system profile option MRP: Default Sourcing Assignment Set.
5. Create Approved Supplier List
Upper half of screen:
Type = Item
Enter Item Number
Lower half of screen:
Business = direct
Name = name of blanket PO vendor from step #1
Site = site of vendor from step #1 (must be same site as defined in step #2)
Status - changed to "approved".
Global = no
Owning org = your inventory org name
Click on Attributes button
Enter Purchasing UOM (required)
Select release method:
Automatic release (no review)
Automatic release with review
Release using Autocreate (for greatest control)
Sequence = 1
Type = either Blanket or Quotation
Blanket Number & Line Number
Blanket Status (blanket PO must have been approved).
Support also states that you can also use a quotation to turn a requisition into
a standard PO in a similar process, but I have never tested this. Try entering
a quotation in the PO module and reference this instead of Blanket in the Approv
ed Supplier List form.
You can also take the approved requisitions and just turn them into POs using th
e autocreate function. But be sure that you have "Approve Purchase Requisitions"
as one of the functions on the Approval Assignments form or the reqs will be "i
ncomplete" instead of "approved" and you cannot then autocreate them onto POs. (
That error cost me two whole days to find.......)
Posted by Seetharaman Radhakrishnan 2 comments
Labels: Oracle Purchasing
Oracle Lease Management Overview
Lease Life Cycle :
a) Credit Checking of the Lessee (Customer)
b) Author a Contract between Lessor and Lessee
c) Bill the Lessee during a Contract Term
d) Receive Payments from Lessee during the term of the contract
e) Lessee interacts with Lessor during the term of contract.
i. May inquire regarding his payments or next invoice
ii. May request for some additional Product information
iii. May dispute an invoice.
iv. On the basis of Lessee s interaction, Lessor s agent may initiate certain tasks
internally or send some notifications
f) At the end of Contract term, as per T&C of the contract
i. Lessee may return the Asset to Lessor
ii. Lessee may purchase the Asset
iii. Lessee may renew a contract
g) Lessor sends quote to the lessor if there is a purchase option as per T&C
i. May be an early termination Quote
ii. End of Term Quote
h) Asset is returned to the Lessor
i. Asset may become part of inventory which can be re-leased later
ii. Asset may be remarketed
OLM integrates the power of Oracle s ERP, CRM and Contract Applications for comple
te leasing solution.
Key Business Flows:
OLM has designed the following Key Business Flows to address all the scenarios o
f a typical Lease Life Cycle
1. Credit Application to Booking
2. Invoice to Receipt
3. Asset return to Disposal
4. Quote to termination
5. Inquiry to Resolution
6. Period Open/Close - This is purely Accounting setup
Oracle APPS responsibilities for OLM:
All the Key Business Flows except Inquiry to Resolution are performed by
Logging into OLM HTML Version. Lease Super User module is used
OLM has number of concurrent programs for processing data within OLM and transfe
r of data to other modules like AP, AR, GL etc. All these concurrent Programs ar
e accessed by using Lease Administrator responsibility which is in Oracle Forms
Version.
Lease Center Agent Responsibility in Oracle Forms Version is used for the inquir
y to Resolution Business Flow.
1. Credit Application to Booking:
Modules involved: AP, FA, GL, Inventory, Contracts Core and Installed Base
A Third party Lease Price modeling software, SUPER TRUMP performs stream generat
ion and Lease Pricing
· Credit Approval
· Authoring a Contract
· Vendor Payment
· Asset Tracking
For some clients, Credit Application of the Lessee( Customer) is processed in a
separate system.
Approved contract is entered in OLM. Contract information is available different
subsystems. Most of the times, Contract has to be imported by drawing informati
on from those subsystems.
In a few cases, we may be entering a Contract from scratch
2. Invoice to Receipt:
Modules involved: AR, Collections, GL, Contracts for Service
Billing functionality identifies items to be passed onto lessee.
Billable items are as follows
· Cost of the equipment multiple assets
· Fees incurred like Customer Service Fee, Documentation Fee
· Expenses like Insurance premium, Installation charges
· Taxes like Sales Tax, VAT
Billing amounts may be generated automatically or manually
Lessee may have assets at multiple locations under same lease contract
Various Billing requirements like Usage Based Billing
Payments from Lessee Receipts to Lessor
Transfer of funds Lessee or Lessor may initiate
Mode of Payments: Direct Debits, Checks, Wire Transfers or Credit Cards
Notifications to Customers
Collections missing Payments, delinquent, litigations etc

3. Quote to Termination:
Modules involved: AR, FA, CRM Foundation, Workflow and GL
Alternatives when a Lease Contract expires
· Manage a repurchase
· Restructure a Contract
· Terminate a Contract
OLM processes restructured contracts through Contract authoring and Booking
Request for a renewal or termination quote
Complete termination of Contract
Update Asset records
When termination quote for sale is accepted, assets are retired in Fixed Assets
4. Asset return to Disposal:
Modules involved: iStore, Marketing Online, Advanced Pricing, CRM Foundation
· Asset returns
· Remarketing
Asset evaluation process
Shipping instructions for returned Assets.
Returns may be accounted as scrap, or inventory to be remarketed
Remarketing manages disposition of Assets when a Lease expires.
Sale of Asset to a 3rd Party or internal remarketing efforts

5. Inquiry to Resolution:
Modules involved: CRM Foundation, Telesales, E Business Center
Customer Service representative tracks a customer inquiry through its resolution
.
Communicate to appropriate authorities regarding tasks to be performed for resol
ving a customer query
Define processes to manage specific requests such as:
· Insurance quotes
· Claims
· Contract transfers
· Equipment exchanges
· Asset modifications
· Lease Renewals
Components of CRM Foundation used in OLM
· Resources
· Sales Representatives
· Remarketers
· Assignment Groups
· Interaction History
· Fulfillment
Summary of the modules used in OLM:
Functional
Financials : GL, AP, AR and FA
Contracts: Contracts core, Contracts Service
CRM: CRM Foundation, Installed Base, Telesales, iStores, Marketing Online
Distribution: Inventory, Advanced Pricing
(Telesales Customer Service and Collections Functionality)
Technical
Workflow Processes Approvals and Notifications
XML gateway Integrates with Lease Price Modeling Software
Advanced Inbound and Outbound Customer Service, Call Center functionality, Unive
rsal Workques, Fulfillment Server
Posted by Seetharaman Radhakrishnan 0 comments
Labels: EBS Suite, Oracle Lease Management
Monday, May 19, 2008
Oracle Apps Reporting Tools
Introduction : Oracle provides over a thousand standard reports within the appli
cation. These standard reports are developed to cover common generic needs. Befo
re creating any new reports, one should examine the standard report sets to dete
rmine if any meet the requirements. If requirements cannot be met with the stand
ard Oracle report sets, tools are available to create custom reports.

The following matrix addresses reporting tool options, including:


A brief description
Who should be provided the access to the tool?
Advantages
Disadvantages
When is it appropriate to use?
(Click anywhere on the below image to ZOOM and read the complete table):

Posted by Seetharaman Radhakrishnan 1 comments


Labels: Oracle EBS Suite
Saturday, May 17, 2008
Inventory Flexfield Structure Definition for a Food Processing and Distribution
Company
Introduction - This real world case study on proposed item structure for a Food
Processing and
Distribution Company was based on the requirements of business, gathered through
discussions
during the implmentation project, as well as recommendations submitted by consul
tants.

1. Objective
The Decision on Inventory Flex fields Structure was taken based on achieving the
following Objective:
Ø Item code structure across all Product lines & Products is required to be unifor
m;
Ø Item code should be simple and short;
Ø Item code numbering should be driven by a simple logic to avoid deciphering the
codes by field staff;
Ø Item code should be independent of the personal view of the person defining the
item;
Ø Item code should not be dependent on either supplier or customer codes;
Ø Each item should have code and a description to identify the item uniquely;
Ø Code should not be repeated in description and vice-versa;
Ø Expiry date and location of the item should be identified
Ø All items should be properly classified in a logical manner, so that MIS reports
can be generated; and
Ø All existing reporting requirements are met, in addition to the reports availabl
e in Oracle Inventory.
In Oracle Inventory, an Item should have a System Flex field; in order to take a
dvantage of the Oracle Apps, features, it is also recommended to use Category Se
ts, Lot number control and Locator to define an Item.
Based on the above, the following item code structure was designed.
2. System Item Flexfield
The System Item Flex field is used to define the Item Code through which an Item
in the Inventory is identified uniquely. For the client's business, the System
Item Flex field will be:
No. Of segment = 1
Segment Name = Item
Size = 6 Numeric
The segment will have serial no starting from 000001 to 999999. This gives flexi
bility to have 999999 items in the company. To ensure that items are numbered in
a logical manner, range of serial no. will be allocated, so that serial no. can
be used only from the range.
As a next step, Description of the item has to be entered to save the item in th
e system. It is proposed that the name of the supplier/brand, existing descripti
on and the package size shall be entered in description, eg. ABC Supplier (Brand
), Mod Chicken (Description) and 900 grams (package size) so the description wou
ld be 'ABC Supplier Mod Chicken 900 Grams'.
3.Category Set
A Category is a logical major classification of items that have similar characte
ristics. A Category Set is a set of distinct categories in which an Item can be
grouped/classified. E.g. one grouping or classification can be based on Buying ; an
other grouping or classification for the same Items can be based on the Physical
Inventory attributes. The flexibility of having multiple category sets allows r
eporting and query on items in a way that best suits business needs.
For our common business requirements across all departments, an Inventory Catego
ry Set will be created at the beginning with the following four segments:

*The segment size has been considered keeping in view that most of the business
requirements are met.
As these 6 segments are required to appear in Reports, GRNs, PO & Invoices hence
, having longer size
would mean that on the reports, other information might not fit in 80-column Or
128 column Stationery..
However, in system their full description can be entered and maintained.
It is also advisable that these categories can be numbered properly to avoid ext
ending the report size.
The values for the above 6 segments will have to be first updated and combinatio
ns also created.
This will then be available as List of Values (LOV). Every time an item is creat
ed, this default
category set structure will be attached to the Item, and the values for each of
the segments can be selected from LOV.
Few items have been classified under four segments:
Once a Category set is attached to an item, reports on its segments i.e. Focus,
Brand, Category, Base Product,
Product & Size can be generated. For an existing item, a Category set can be del
ineated, if required, and a new
category set attached. Last change audit trail will be available in the system.
A new category set can also be
created or an existing Category set be disabled.
4. Lot Control
Lot control feature can be utilized to capture the expiry of items in the invent
ory. It plays a crucial role in the organizations, which are into Food Processin
g, Pharmaceutical and products that get expired due to elapse of time. It is pro
posed that the lot control feature can be enabled and used for all products. Bas
ically, system will require a lot number and expiry date to be entered by the us
er to complete the transaction. Transactions are as follows:
A. Material Receipts
B. Transfer goods from one location to another location and
C. Material Issues
In case of material transfer between locations, user has to choose the lot numbe
r, which is already assigned to the items. This will eliminate multiple lot numb
ers assigned to single item in different locations for a better control. To ease
the operations, it is proposed that the ETA date (Expected Time of Arrival) sha
ll be entered as lot number for the item and the user has to input expiry date o
f the item. Preferably, these lot numbers should be pasted on the Pallets so tha
t the inventory clerk can easily identify the location of the goods.
5. Locator Structure (To be used in Future)
Locators are used to identify physical location where the item is actually store
d in the Warehouse/Store. Locator can track item quantity. An Item can also be r
estricted to a specific locator or a locator can be dynamically assigned to the
item on receipt.

In order to use this available feature for better managing the inventory, we nee
d to
Ø Design the locator storage system based on the warehouse space and use structure
for storing items.
Ø Paint the palettes using standard primary colors.
Ø Assign numbers to all the palettes.
Ø Define all the locator addresses in the Inventory system.
Ø Attach item to a locator.
It is proposed to use a Locator segment of Colour & Number, for e.g. R120 would
mean RED colour palette number 120. This detail will help in tracking the item d
uring transfers, issues and also during taking physical stock of the items. Prop
osed locator address structure is given below:

It is proposed that the locator will be defined in the system but the users will
be using it once they are well versed with the system. The locators segment hav
e to entered on following transactions:
A. Material Receipt to Warehouses
B. Transfer of goods from one location to another location
C. Movement of Goods within the warehouse
D. Issue of materials to Customers and Vans
E. Receipt of materials from Van and Customers
6. Benefits of the Proposed Item Structure
a. At the time of Item creation, the only User logic built into the item code is
the Sub Division to which the item belongs.
b. The Item Code is short with one segment and is uniform across all Products.
c. Company can have up to 999999 items.
d. The Item Code is not dependent on the item code of the Vendor or Customer and
is unique to the Client.
e. The probability of making duplicate item code is nil since the Item Code is u
nique in inventory. f. Items have been classified in an Inventory Category Set w
ith six segments Type, Product Line, Brand and Product. In the existing system t
he classification is more or less the same. Focus, Brand, Category, Base Product
, Product & Size will be available as List of Values for selection, so that typo
graphical errors are avoided. However, it is important that the selection is cor
rect to avoid changing the category subsequently.
g. Inventory Reports can be generated on any of the segments i.e. Item Code, Des
cription, Focus, Brand, Category, Base Product, Product & Size to sort the items
in Inventory Organization.
h. An Item can be attached with lot numbers & Locator to identify the location a
nd expiry dates.
i. Stocks can be maintained Expiry date wise

Posted by Seetharaman Radhakrishnan 0 comments


Labels: Oracle Inventory, Real World Cases
Accounting entries in Receivables
A quick re-cap of accounting entries generated in Oracle Receivables:
Invoices:
When you enter a regular invoice through the Transactions window, Receivables cr
eates the following journal entry:
DR Receivables
CR Revenue
CR Tax (if you charge tax)
CR Freight (if you charge freight)
If you enter an invoice with a Bill in Arrears invoicing rule
with a three month fixed duration accounting rule, Receivables creates the follo
wing journal entries:
In the first period of the rule:
DR Unbilled Receivables
CR Revenue
In the second period of the rule:
DR Unbilled Receivables
CR Revenue
In the third and final period of the rule:
DR Unbilled Receivables
CR Revenue
DR Receivables
CR Unbilled Receivables
CR Tax (if you charge tax)
CR Freight (if you charge freight)
If you enter an invoice with a Bill in Advance invoicing rule, Receivables creat
es the following journal entries:
In the first period of the rule:
DR Receivables
CR Unearned Revenue
CR Tax (if you charge tax)
CR Freight (if you charge freight)
DR Unearned Revenue
CR Revenue
In all periods of the rule for the portion that is recognized.
DR Unearned Revenue
CR Revenue
Credit Memos:
When you credit an invoice, debit memo, or chargeback through the Credit Transac
tions window,
Receivables creates the following journal entry:
DR Revenue
DR Tax (if you credit tax)
DR Freight (if you credit freight)
CR Receivables (Credit Memo)
DR Receivables (Credit Memo)
CR Receivables (Invoice)
When you credit a commitment, Receivables creates the following journal entries:
DR Revenue
CR Receivables
When you enter a credit memo against an installment, Receivables lets you choose
between the
following methods: LIFO, FIFO, and Prorate.
When you enter a credit memo against an invoice with invoicing and accounting ru
les,
Receivables lets you choose between the following methods: LIFO, Prorate, and Un
it.
If the profile option
AR: Use Invoice Accounting for Credit Memos is set to Yes,
Receivables credits the accounts of the original transaction.
If this profile option is set to No, Receivables uses AutoAccounting to
determine the Freight, Receivables, Revenue, and Tax accounts. Receivables uses
the account
information for on-account credits that you specified in your AutoAccounting str
ucture to create your journal entries.
Receivables lets you update accounting information for your credit memo after it
has posted to your general ledger.
Receivables keeps the original accounting information as an audit trail while it
creates an offsetting entry and the
new entry.
Commitments:
When you enter a deposit, Receivables creates the following journal entry:
DR Receivables (Deposit)
CR Offset Account
Use the AR: Deposit Offset Account Source profile option to determine how Receiv
ables derives the Offset
Account to credit for this deposit.
When you enter an invoice against this deposit, Receivables creates the followin
g journal entries:
DR Receivables (Invoice)
CR Revenue
CR Tax (if you charge tax)
CR Freight (if you charge freight)
DR Offset Account (such as Unearned Revenue)
CR Receivables (Invoice)
When you apply an invoice to a deposit, Receivables creates a receivable adjustm
ent against the invoice.
Receivables uses the account information that you specified in your AutoAccounti
ng structure to create these entries.
When cash is received against this deposit, Receivables creates the following jo
urnal entry:
DR Cash
CR Receivables (Deposit)
When you enter a guarantee, Receivables creates the following journal entry:
DR Receivables
CR Revenue
Receivables uses the Receivable Account and Revenue Account fields on this guara
ntee's transaction type to obtain the accounting flexfields for the Unbilled Rec
eivables and Unearned Revenue accounts, respectively.
When you enter an invoice against this guarantee, Receivables creates the follow
ing journal entry:
DR Receivables (Invoice)
CR Revenue
CR Tax (if you charge tax)
CR Freight (if you charge freight)
DR Revenue
CR Receivables
When you apply an invoice to a guarantee, Receivables creates a receivable adjus
tment against the guarantee.
Receivables uses the account information you specified in your AutoAccounting st
ructure to create these entries.
When cash is received against this guarantee, Receivables creates the following
journal entry:
DR Cash
CR Receivables (Invoice)
Receipts:
When you enter a receipt, Receivables creates the following journal entries:
DR Cash
CR Receivables
When you fully apply a receipt to an invoice, Receivables creates the following
journal entry:
DR Cash
DR Unapplied Cash
CR Unapplied Cash
CR Receivables
Note: These examples assume that the receipt has a Remittance Method of No Remit
tance and a Clearance Method of
Directly.
When you enter an unidentified receipt, Receivables creates the following journa
l entry:
DR Cash
CR Unidentified
When you enter an on-account receipt, Receivables creates the following journal
entry:
DR Cash
CR Unapplied
DR Unapplied
CR On-Account
When your receipt includes a discount, Receivables creates the following journal
entry:
DR Receivables
CR Revenue
DR Cash
CR Receivables
DR Earned/Unearned Discount
CR Receivables
Receivables uses the default Cash, Unapplied, Unidentified, On-Account, Unearned
, and Earned accounts that you
specified in the Remittance Banks window for this receipt class.
When you enter a receipt and combine it with an on-account credit (which increas
es the balance of the receipt),
Receivables creates the following journal entry:
DR Cash
CR Unapplied Cash
To close the receivable on the credit memo and increase the unapplied cash balan
ce, Receivables creates the
following journal entry:
DR Receivables
CR Unapplied Cash
When you enter a receipt and combine it with a negative adjustment, Receivables
creates the following journal entries:
DR Cash
CR Receivables (Invoice)
DR Write-Off
CR Receivables (Invoice)
You set up a Write-Off account when defining your Receivables Activity.
When you enter a receipt and combine it with a positive adjustment, Receivables
creates the following journal entries:
DR Cash
CR Receivables (Invoice)
DR Receivables (Invoice)
CR Write-Off
When you enter a receipt and combine it with a Chargeback, Receivables creates t
he following journal entries:
DR Cash
CR Receivables (Invoice)
DR Receivables (Chargeback)
CR Chargeback (Activity)
DR Chargeback (Activity)
CR Receivables (Invoice)
You set up a Chargeback account when defining your Receivables Activity.
Remittances:
When you create a receipt that requires remittance to your bank, Receivables deb
its the Confirmation account instead
of Cash. An example of a receipt requiring remittance would be a check before it
was cashed. Receivables creates the
following journal entry when you enter such a receipt:
DR Confirmation
CR Receivables
You can then remit the receipt to your remittance bank using one of the two remi
ttance methods: Standard or Factoring.
If you remit your receipt using the standard method of remittance, Receivables c
reates the following journal entry:
DR Remittance
CR Confirmation
When you clear the receipt, Receivables creates the following journal entry:
DR Cash
DR Bank Charges
CR Remittance
If you remit your receipt using the factoring remittance method, Receivables cre
ates the following journal entry:
DR Factor
CR Confirmation
When you clear the receipt, Receivables creates a short-term liability for recei
pts that mature at a future date. The factoring process let you receive cash bef
ore the maturity date, and assumes that you are liable for the receipt amount un
til the customer pays the balance on the maturity date. When you receive payment
, Receivables creates the following journal entry:
DR Cash
DR Bank Charges
CR Short-Term Debt
On the maturity date, Receivables reverses the short term liability and creates
the following journal entry:
DR Short-Term Debt
CR Factor
Adjustments:
When you enter a negative adjustment against an invoice, Receivables creates the
following journal entry:
DR Write-Off
CR Receivables (Invoice)
When you enter a positive adjustment against an invoice, Receivables creates the
following journal entry:
DR Receivables (Invoice)
CR Write-Off
Debit Memos:
When you enter a debit memo in the Transactions window, Receivables creates the
following journal entries:
DR Receivables
CR Revenue (if you enter line amounts)
CR Tax (if you charge tax)
CR Freight (if you charge freight)
DR Receivables
CR Finance Charges
On-Account Credits:
When you enter an on-account credit in the Applications window, Receivables crea
tes the following journal entry:
DR Revenue (if you credit line amounts)
DR Tax (if you credit tax)
DR Freight (if you credit freight)
CR Receivables (On-account Credit)
Receivables uses the Freight, Receivable, Revenue, and Tax accounts that you spe
cified in your AutoAccounting
structure to create these entries.
Once the on-account credit is applied to an invoice, the following journal entry
is created:
DR Receivables (On-account Credit)
CR Receivables (Invoice)
Posted by Seetharaman Radhakrishnan 2 comments
Labels: Oracle Receivables
Sunday, May 4, 2008
Oracle Projects - Steps to make the Project Budgetary Control features work
Published on behalf of Ravishankar Panchapagesan:
· Set the value of the profile PA : Enable Budget Integration and Budgetary Contro
l
· Enable Budgetary Control in the Set of Books window and choose a default Encumbr
ance account
· For the Budget Control Group Standard in GL menu, enter Projects as the source and
Total Burdened Cost as the category and choose the fund check level of None
· Ensure this is the value of the profile at the application or responsibility for
the profile option Budgetary Control Group
· Check Use PO Encumbrance in Payables Financial Option and enter values for PO and
Invoice encumbrance type.
· In Purchasing menu, Open the Encumbrance year and period. In Purchasing, there a
re 2 Forms. One for Open and Close Periods and the other for Control Purchasing
Periods. Use the Control Purchasing Period to open the Encumbrance Year and the
corresponding GL period. This is a pre requisite for encumbrance to work. Use th
e Open and Close Periods for controlling Purchasing Period.
· Complete the set ups for Project type, budgetary control tab and create project
templates and projects using the set up.
· Ensure that the budget entry method allows the entry of Total Burdened cost. You
do not have to burden the transactions. System populates the raw cost budget in
to this field for budgetary control check.
· Ensure the pre requisite GL patches (No 1995914 and 2002508) are in the applicat
ion. These patches are included in PA M as cumulative components.
· Enter transactions in AP and verify the process. Upon saving the invoice, naviga
te to the Tools Menu and click Check Funds menu. System will display a message wh
ether the invoice and its distribution lines will pass or fail funds check.
· Validate the invoice normally. Funds check will be performed upon validation bas
ed on the amount type and boundary code associated with the Project and the cont
rol levels chosen for the project, task, resource group and resource list level.
· Invoices that failed the funds check upon validation with the reason code Funds c
hecking could not be performed cannot be manually released. You need to enhance t
he funds available.
· You can view the Transaction Funds Check Results in Projects regardless of the i
nterface from AP.
· For each line that is passed funds check, in the above window, the system will d
isplay 2 rows: 1 with the status Passed funds check and the other with the status A
pproved
· Interface validated and accounted invoice distribution lines to Projects normall
y.
· Schedule to run the process PRC: Maintain Budgetary Control Balances based on bu
siness requirements. When this process is run, the system purges details of Fund
s check results display. Choose to run this process in conjunction with the valu
e of profile option for PA: Days to maintain BC packets
· You cannot change the budget amount type for budgetary control in the Projects w
indow after supplier invoice costs are incurred. However, you can change the con
trol values and amount type and boundary codes. If you do, system will prompt th
e user to re baseline the current version of the cost budget used.
Posted by Seetharaman Radhakrishnan 0 comments