In Oracle Apps , Receipts could have the below given status during the transaction phase.
APPROVED: The status ‘APPROVED’ indicates that the receipt has been approved for automatic receipt creation. This status is only valid for automatic receipts.
CONFIRMED: The status ‘CONFIRMED’ indicates that the customer has approved the application of this receipt and their account balances have been updated within Receivables.
The status ‘CONFIRMED’ is only valid for automatic receipts.
REMITTED: The status ‘REMITTED’ indicates that the receipt has been remitted. The status ‘REMITTED’ is valid for both automatic and manually entered receipts.
CLEARED: The status ‘CLEARED’ indicates that payment of this receipt was transferred to bank account and the bank statement has been reconciled within Receivables. The status ‘CLEARED’ is valid for both automatic and manually entered receipts.
REVERSED: The status ‘REVERSED’ indicates that receipt has been reversed. You can reverse a receipt when the customer stops payment on a receipt or could be a wrong entry being done manually. if a receipt comes from an account with non-sufficient funds or if you want to re-enter and reapply it in Receivables , then Receipt needs to be ‘REVERSED’.
You can reverse cash receipts and miscellaneous transactions