Receipt Classes

AR, Version R12

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The receipt classes determine the required processing steps for receipts top which you assign payment methods with this class.

For each receipt class , one can specify :

1. Creation Method
2. Remittance Method
3. Clearance Method

1. Creation Method :

    a. Automatic : Receipts with this receipt class can be created using the automatic receipt program.For automatic  Receipts, tick require confirmation box in order to confirm these receipts before they can be remitted

    b. Manual : Receipts using this receipt class must either be entered manually in the Receipts or QuickCash window, or imported into Receivables using AutoLockbox.

2. Remittance Method : This is required if you have selected the require confirmation check box. It determines the accounts that receivables uses for automatic receipts .

1. Standard: It uses the remittance account
2. Factoring : It uses the Factoring account
3. Standard and Factoring:In this you can specify either of these methods when creating remittance batches.
4. No Remittance : Receipts are not remitted

3. Clearance Method :

1. Directly: Choose this method if you do not expect the receipts to be remitted to the bank and subsequently cleared. These receipts will be assumed to be cleared at the time of receipt entry and will require no further processing.
2. By Automatic Clearing: Choose this method to clear receipts using the Automatic Clearing program.
3. By Matching: Choose this method if you want to clear your receipts manually in Oracle Cash Management.