Overview of Oracle Receivables | Process Flow

By Jag - October 14, 2014

Overview of Oracle Receivables | Process Flow

Oracle Receivables allows you to streamline invoicing, receipt, and customer deduction processing while improving cash flow, optimizing customer relationships, and providing strategic information.


As a sub ledger, Oracle Receivables provides the flexibility to meet the demands of a global market with strong financial controls to assist in instilling corporate and fiscal discipline.





Enhance Value by Combining with the Entire Oracle E-Business Suite

Oracle Receivables works seamlessly with other Oracle E-Business Suite products to drive better decision-making, sustainable financial discipline, regulatory compliance, and optimized business processes at the lowest cost.



Benefits:


·Streamline Your Operations and Increase Your Cash Flow
 
Oracle Receivables seamlessly manages your invoicing needs and offers importing capabilities to extend this service to non-Oracle ordering systems. Facilitate account collection with correspondence tracking, instant access to current customer account information, and collector task scheduling.

·Instill Corporate and Fiscal Discipline


Ensure compliance with accounting standards and company policies by mapping your business model to the appropriate revenue schedules. Promote strong internal controls through function security, approval processes, and appropriate dissemination of information. 

·Expand to Global Markets
 

With Oracle Receivables, your enterprise has the flexibility to respond to global needs, support diverse regulatory requirements, and optimize customer relationships in the global economy.



Accounting in Receivables:



You create accounting entries for invoices and other transactions in Oracle Receivables using the Oracle Sub ledger accounting architecture.



Oracle Sub ledger Accounting is a rule-based accounting engine, toolset, and repository that centralizes accounting across the E-Business Suite. Acting as an intermediate step between each of the Sub ledger applications and Oracle General Ledger, Oracle Sub ledger Accounting creates the final accounting for Sub ledger journal entries and transfers the accounting to Oracle General Ledger.



Receivables includes a set of predefined accounting rules that Sub ledger Accounting uses to create accounting, but you can define your own detailed accounting rules using a centralized accounting setup in a common user interface.



Leveraging this accounting architecture, Receivables lets you:



Store a complete and balanced Sub ledger journal entry in a common data model for each business event that requires accounting

Maintain multiple accounting representations for a single business event, resolving conflicts between corporate and local fiscal accounting requirements

Retain the most granular level of detail in the Sub ledger, with different summarization options in the general ledger, allowing full audit ability and reconciliation because the link between transaction and accounting data is preserved
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