AR: Automatic Receipts and Remittances - The Whole Story in R12

Have you implemented Automatic Receipts in Release 12, or have you stayed away due to the perceived complexity in setting this up and maintaining it?  As with most things, the effort invested up-front really does pay-off in relation to how you process receipts from those customers with whom you can negotiate an agreement to transfer funds at an agreed receipt date.

 Automatic Receipts also lets you manage your customer risk and reconcile bank statements. You can decide how you wish to process the receipts from creation to remittance and risk elimination. The Automatic Receipts feature satisfies the many variations of bank remittance processing, such as direct debits.


The process is as follows:

  • A transaction is flagged for automatic receipts creation
  • When the Automatic Receipts program is run, a receipt is created to close out those transactions that meet the report criteria
  • There is an optional step to notify your customer in order that they review the receipts and confirm payment
  • Once the transactions are confirmed, you create remittance batches to select receipts for remittance to your bank so that the transfer can take place.  The remittance batch is then sent to your bank
  • When the bank statement arrives, the receipts can be reconciled

 Oracle Support is pleased to advise you of our guide on implementing, running and reporting on this functionality.  This document has a step-by-step guide to setup, along with screenshots of the various R12 implementation steps.  Additionally there is a Frequently Asked Questions section which explains terminology.  See DocID 745996.1 for further information.

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