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:
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.
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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