Setting Up to use the Automatic Receipts and Remittance Feature.

The Automatic Receipts feature allows you to automatically generate

receipts for customers with whom you have predefined agreements. These
agreements let you collect payments on time by transferring funds from the
customer's bank account to yours on the receipt maturity date. You can also
manage your cash flow by deciding when, where, and how much you should remit
to your bank.
The following table summarizes the steps you must follow to set up Automatic
Receipts in your applications:
Step

Description

Step a

Define Receipt Class

Step b

Define Receipt Method

Step c

Assigning Remittance Banks

Step d

Setting Up Document Sequences

Step e

Define Print programs for your Automatic Receipts

Step f

Oracle Payments Setup For Funds Capture Processing

Step g

Define Remittance Print Programs

Step h

Define System Options, Profile Options and Currency Rates

When you run the Automatic Receipts program, Receivables creates receipts
to close out all completed transactions that meet the selection criteria.
Receivables also let you update, delete and approve the receipts that were
selected.

You can also optionally format your Automatic receipts onto paper to send to
your customer for confirmation or notification before remitting them to your
bank.

A transaction is flagged for Automatic Receipts creation by assigning a

receipt method with an associated receipt class that has an Automatic
creation method.

If required, the next step involves getting confirmation from your customers
to indicate that they reviewed each receipt and agreed that the payment
information is correct.

After confirmation, you create remittance batches to select receipts for

remittance to your bank to initiate the transfer of funds from your customer's
account to your account as payment for the transactions that were previously
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closed by these receipts. You can create unapproved, approved, or approved

and formatted remittance batches, which you then send to your bank.

When you receive your bank statement, you can then reconcile your receipts.
You can optionally submit the Automatic Clearing program to automatically
clear remitted receipts and clear or risk eliminates factored receipts in
Receivables.

Responsibility:ReceivablesSuperUser
Navigation: Setup > Receipts > Receipt Classes
1.

Enter a Receipt Class by assigning a unique name.

2.

The creation method should be Automatic.

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Choose a Remittance Method. The remittance method determines the

accounts that Receivables uses for Automatic receipts that you create using the
receipt method assigned to this receipt class. Choose one of the following:

Standard: This remittance method is a straightforward remittance, where

you request for X amount as payment and X amount is withdrawn from your
customer's account and transferred to your account. When the remittance
method is Standard, GL distributions for the receipt will use the GL account
defined for Remittance in the Bank Accounts form (see Assign Remittance
Banks below).

Factoring: In this remittance method, you sell to the bank your receipts in
exchange for cash. GL distributions for receipts using this remittance method
will use the Factoring GL account defined for Factoring in the Bank Accounts
form (see Assign Remittance Banks below). Note that the GL account for
Factoring will not be enabled, unless the Remittance method is Factoring or
Standard and Factoring.

Standard and Factoring: Choose this method when the receipts using this
method can be remitted either as Standard or factored.
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No Remittance: Choose this method if you do not require receipts assigned

to this receipt class to be remitted

Define Receipt Method

Receivables uses receipt methods to account for your receipt entries and
applications. Receipt methods also determine a customer's remittance bank
information.
You can assign multiple remittance banks to each receipt method, but only one
bank account can be the primary account for each currency. For each remittance
bank branch account assigned to a receipt method, you must define all of your
receipt accounts.

Assigning Remittance Banks

Assign remittance banks to your receipt methods to facilitate data entry and
specify the General Ledger accounts that Receivables will use when you enter or
apply
receipts.
You can assign multiple bank accounts to a receipt method, but you can only have
one primary account for each currency defined for that receipt method.

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Setting up Document Sequences

Receivables automatically create categories for each receipt method that you have defined.
Refer to Document Sequences chapter in the Oracle Applications System Administrator's
Guide - Configuration for more detailed information on using and defining document
sequences and an explanation of the feature.
NAVIGATION=>Application ->Sequential Numbering->Define

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NAVIGATION=>Application ->Sequential Numbering->Assign

Define Receipt method at our customer header and site level

NAVIGATION=>Customers->Customers

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ReceiptMethods
You can attach Receipt Methods at Customer and Customer Site level. The Site level
will take precedence. You can assign multiple receipt methods to a customer
account as long as the start and end dates of the methods do not overlap. Only one
method can be identified as Primary.
During transaction entry, Oracle Receivables uses the primary receipt method as
the default. However, you can override the receipt method, along with the payment
method and payment instrument, at the transaction or receipt level.
By default when you create Transactions, the receipt method attached at Site level
will be defaulted. You can always override this Receipt Method.
PaymentInstruments
This customer payment information that you create is actually stored in Oracle
Payments for use during funds capture processing.

Credit Cards

Bank Account Transfer

Assign bank accounts to customer accounts to allow funds to be automatically

transferred from these accounts to your remittance bank account when using
Automatic receipts. Receivables allow multiple customer bank accounts in different
currencies and let you assign bank accounts to customer addresses.

Define System Options, Profile Options and Currency Rates

NAVIGATION=>Setup->System->System Options

Under the Miscellaneous tab we have to give value for Auto Receipts Invoice per
commit and Receipts per commit.

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Create Automatic Receipt Batch

NAVIGATION =>Receipts ->Batches

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