oracle apps R12 Oracle Receivables (AR) Receipt creation

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In Oracle Receivables, Receipts can be created of 2 types:

  1. 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.
  2. 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:

  1. Receipts can be applied to the transactions in the Open or Future Accounting Periods.
  2. Charge back and adjustments can be created against the receipts
  3. Receipts can be applied to Invoices, Debit Memos, Credit Memos, on-account credits and chargebacks.
  4. Receipts can be applied partially or fully to a single Debit item or to several Debit items.
  5. 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