In Oracle Receivables, Receipts can be created of 2 types:
- Standard Receipts: Standard Receipts includes Cash or Check received from the Customer in the exchange of goods or services provided. These are termed as ‘Cash Receipts’ also.
- Miscellaneous Receipts: Miscellaneous Receipts includes the revenue earned from the interest, refunds, investments or any other nonstandard item.
Important point to Consider while creating Receipts:
- Receipts can be applied to the transactions in the Open or Future Accounting Periods.
- Charge back and adjustments can be created against the receipts
- Receipts can be applied to Invoices, Debit Memos, Credit Memos, on-account credits and chargebacks.
- Receipts can be applied partially or fully to a single Debit item or to several Debit items.
- Receipts can be applied to other open receipts
RECEIPT STATUSES: The Oracle Apps AR Receipt Status can be referred here Oracle Apps R12 AR Receipt Status