Fixed Asset Setups
Fixed Assets
1. System Controls
2. Define Fiscal Years
3. Define Calendars
4. Account Generator
5. Define Prorate Conventions
6. Define QuickCodes
7. Define Category Key Flexfield Value Sets
8. Define Location Key Flexfield Value Sets
9. Define Asset Key Flexfield Value Set
10. Define Category Key Flexfield Segments
11. Define Location Key Flexfield Segments
12. Define Asset Key Flexfield Segments
13. Define Category Key Flexfield Segment Values
14. Define Location Key Flexfield Segment Values
15. Define Asset Key Flexfield Segment Values
16. Establish Security by Book – Create Assets Hierarchy
17. Define Book Controls using Security by Book
18. Establish Security by Book – Add site specific OU to Assets Hierarchy
19. Establish Security by Book – Security Profile
20. Establish Security by Book – Run Security List Maintenance program
21. Assign Profile Option Values
22. Define Value Set Security
23. Assign Value Set Security
24. Define Asset Categories
25. Define Location Codes
26. Define Asset Keys
27. Define Descriptive Flexfields
28. Define Depreciation Methods
29. Define Depreciation Ceilings
30. Define Investment Tax Credit Rates
31. Define Investment Tax Credit Recapture Rates
32. Define Price Indexes
33. Define Leases/Lease Payment Schedules
34. Define Warranties
35. Define Distribution Sets
36. Define Bonus Depreciation Rules
Oracle Receivables setup steps
Oracle Receivables
1. Define Set of Books
2. Decide how to use Account Generator
3. Define Transaction Flexfield Structure
4. Define Descriptive Flexfields
5. Define Organization
6. Define Sales Tax Location Flexfield structure
7. Define AutoCash Rule Sets
8. Define Receivable Lookups
9. Define Demand Class Lookups
10. Define Auto Invoice Line Ordering Rules
11. Define AutoInvoice Grouping Rules
12. Define Application Rule Sets
13. Define System Options
14. Set up Flexible Address Formats
15. Maintain Countries and Territories
16. Define Payment Terms
17. Assign Reporting Set of Books
18. Define Accounting Rules
19. Open Accounting periods
20. Define Auto Accounting
21. Set Up Cash Basis Accounting Methods
22. Define Transaction Types
23. Define Transaction Sources
24. Define Collectors
25. Define Approval Limits
26. Define Remittance Banks
27. Define Distribution Sets
28. Define Receivables Activities
29. Define Receipt Classes
30. Define Receipt Methods
31. Define Receipt Sources
32. Define Aging Buckets
33. Define Statement Cycles
34. Define Standard Messages
35. Maintain Dunning Letters
36. Maintain Dunning Letters Sets
37. Define Territories
38. Define Sales Persons
39. Define System Profile Options
40. Define Customer Profile Classes
41. Define Customers
42. Define Remit to Addresses
43. Define Customer Relationships
44. Define Lockboxes
45. Define Transmission Formats
46. Define Receipt Programs
47. Define Unit of Measure Classes
48. Define Unit of Measure
49. Define Standard Memo Lines
50. Set Up Cross Currency Receipts
51. Tax Locations and Rates
52. Define Tax Codes and Rates
53. Define Tax Exceptions
54. Set Up Vendor Extension
55. Define Document Sequences
56. Provision Reserve Maintenance
57. Refresh AR Transactions Summary Tables
AR - Questions
AR - Questions
The Multi Reporting Currency Feature allows you to report and maintain records at the transaction level in more than one functional currency. You can do by defining one or more set of books in addition to primary set of books.
2. How is the balance of an invoice derived ?
It is the total invoice amount minus the amount received from the customer. Use application rule set to control how Receivable will reduce the balance due of open debit items when you apply payments.
3. Explain Accounting for invoice in Advance and Arrears.
Accointing for invoice in advance
a) Receivable A/c .....................Dr.
To Unearned revenue a/c
(when we raise the invoice with invoicing rule as advance)
b) Unearned Revenue A/c .............. Dr.
To Revenue A/c
(when we receive the payment, the number of journal entry (b) is depend upon the accounting rules which can be fixed or variable)
Accounting for invoice in arrear
a) Unbilled receivable a/c ....................Dr.
To Revenue a/c
(when we receive the payment of unbilled invoice, the number of journal entry (a) is depend upon the accounting rules which can be fixed or variable))
b) Receivable a/c .........................Dr.
To Unbilled receivable a/c
(when we raise the invoice, with invoicing rule arrear)
4. What is the use of Transaction Flexfield in Autoinvoice ?
Transaction Flexfield actually identifies the the uniqueness among the Multiple lines of a single Invoice
5. What are value sets?
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