Oracle Receivables Invoicing Rule and Accounting Rule
- Invoicing and accounting rules lets you create invoices that span over several accounting period
Invoicing Rule:
- Invoicing rule determine the accounting period in which the receivable amount is recorded.
Types of invoicing Rule:
1. Bill in Arrears
- Use this rule if we want to record receivable at the end of revenue recognition schedule.
2. Bill in Advance
- Use this rule if we want to record receivables immediately.
Accounting Rule:
-Accounting rule determine the accounting period or period in which revenue distribution for an invoice lines are recorded. Accounting rule are assigned at invoice line level, you can have different accounting rule for each invoice line.
Setup Navigation :
AR Superuser Responsibility -> Setup -> Transactions -> Accounting Rule
Types of accounting Rules:
1. Fixed Schedules Rule
- You recognized your revenue with fixed percentage over period of time.
e.g. If there are 4 periods and you want to recognized your revenue evenly for all period means there are 25% of revenue for all period.
Period 1 -> 25%
Period 2 -> 25%
Period 3 -> 25%
Period 4 -> 25%
2. Variable Schedule Rule
- In this type of rule you define percentage of revenue for first period and for remaining period system will calculate revenue on prorate basis.
e.g. If there are 3 period and you define first period revenue percentage as 50% then system will calculate remaining 2 period revenue percentage on prorate basis as 25% each period.
Period 1 -> 50%
Period 2 -> 25%
Period 3 -> 25%
3. Daily Revenue Rates, All Period
4. Daily Revenue Rates, Partial Period
Step for invoicing and accounting rule setup:
1. Create invoicing , accounting rule
2. Create transaction using rule define in above step
3. Run revenue recognition program
4. Run Create accounting for invoice and check accounting
- Invoicing and accounting rules lets you create invoices that span over several accounting period
Invoicing Rule:
- Invoicing rule determine the accounting period in which the receivable amount is recorded.
Types of invoicing Rule:
1. Bill in Arrears
- Use this rule if we want to record receivable at the end of revenue recognition schedule.
2. Bill in Advance
- Use this rule if we want to record receivables immediately.
Accounting Rule:
-Accounting rule determine the accounting period or period in which revenue distribution for an invoice lines are recorded. Accounting rule are assigned at invoice line level, you can have different accounting rule for each invoice line.
Setup Navigation :
AR Superuser Responsibility -> Setup -> Transactions -> Accounting Rule
Types of accounting Rules:
1. Fixed Schedules Rule
- You recognized your revenue with fixed percentage over period of time.
e.g. If there are 4 periods and you want to recognized your revenue evenly for all period means there are 25% of revenue for all period.
Period 1 -> 25%
Period 2 -> 25%
Period 3 -> 25%
Period 4 -> 25%
2. Variable Schedule Rule
- In this type of rule you define percentage of revenue for first period and for remaining period system will calculate revenue on prorate basis.
e.g. If there are 3 period and you define first period revenue percentage as 50% then system will calculate remaining 2 period revenue percentage on prorate basis as 25% each period.
Period 1 -> 50%
Period 2 -> 25%
Period 3 -> 25%
3. Daily Revenue Rates, All Period
4. Daily Revenue Rates, Partial Period
Step for invoicing and accounting rule setup:
1. Create invoicing , accounting rule
2. Create transaction using rule define in above step
3. Run revenue recognition program
4. Run Create accounting for invoice and check accounting
If you're looking to lose weight then you absolutely need to get on this brand new personalized keto plan.
ReplyDeleteTo create this keto diet service, certified nutritionists, fitness couches, and chefs have united to provide keto meal plans that are powerful, painless, money-efficient, and satisfying.
Since their launch in early 2019, hundreds of clients have already completely transformed their body and health with the benefits a professional keto plan can give.
Speaking of benefits: clicking this link, you'll discover 8 scientifically-proven ones provided by the keto plan.
Hello, can you share the tables that are needed in a Revenue to Cash process please ?
ReplyDeleteThank you