Oracle ebusiness suite>Oracle Financial> Oracle Payables
In order to understand, presume you want to stop doing Business with a supplier
You have an overall $100 credit balance with the supplier,which consists of a Credit Memo of $250 and an unpaid Invoice of $150
The supplier sends you a $100 refund for the credit balance.
You enter a $100 Refund Payment (a $100 negative payment), and on the Select Invoices window, you select the outstanding invoice and credit memo.
Once you save the Refund Payment, the invoice and credit memo are marked as paid, and you have no outstanding documents for the supplier
To record a refund you may do the following so that the refund invoice happens in AP module itself
1. Enter and approve a debit memo for the refund amount. Select the debit
Choose the Actions button and select the Pay in Full option. Payables
2. In the Payments window, Payables provides default values for Type,
Enter any other relevant information. For detailed information on any
3. Save your work. Payables records the refund and updates the debit memo
For more details please visit http://www.oracle.com/
http://docs.oracle.com/
Refund Payment in Oracle Payables:
A payment you receive from a supplier or
employee to return funds for an invoice payment you made. Refund payments pay a
debit balance, and are always entered as negative amount payments.
one or more credit/debit memos on their supplier account in Oracle Payables
one or more credit/debit memos
on their customer account in Oracle Receivables
In order to understand, presume you want to stop doing Business with a supplier
Example:
You have an overall $100 credit balance with the supplier,which consists of a Credit Memo of $250 and an unpaid Invoice of $150
The supplier sends you a $100 refund for the credit balance.
You enter a $100 Refund Payment (a $100 negative payment), and on the Select Invoices window, you select the outstanding invoice and credit memo.
Once you save the Refund Payment, the invoice and credit memo are marked as paid, and you have no outstanding documents for the supplier
How to Perform:
To record a refund you may do the following so that the refund invoice happens in AP module itself
1. Enter and approve a debit memo for the refund amount. Select the debit
memo in the Invoices window.
Choose the Actions button and select the Pay in Full option. Payables
opens the Payments window.
2. In the Payments window, Payables provides default values for Type,
Payment Amount, and Supplier. Enter Bank
Account and Refund Date.
Enter any other relevant information. For detailed information on any
field, see Payments Window Reference.
3. Save your work. Payables records the refund and updates the debit memo
status to Paid.
For more details please visit http://www.oracle.com/
http://docs.oracle.com/
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