Step by Step Guide to Fusion Receivable Bills Receivable

Описание: In this video, we explore Bills Receivable in Oracle Cloud's Fusion Receivable module, covering the definition, key steps, and associated transactions. Using clear on-screen examples, we will also address common questions related to receivables. This is a great resource for understanding the integration of *oracle fusion* and **accounts receivable**.

What's a bill receivable?
A bill receivable is a separate transaction in Receivables. A bill receivable is a document that a customer formally agrees to pay at some future date (the maturity date).

The bill receivable document effectively replaces, for the related amount, the open debit items that are applied to the bill. Bills receivable are often remitted for collection and used to secure short term funding.

What's a drawee?
A drawee is a customer who accepts funding in the form of a bill receivable with the intention of repaying the party that issues the bill when it matures. You can only define customer bill-to sites as drawees.

When do I number a bill receivable?
You must enter a number if the transaction source doesn't specify automatic transaction numbering or copying of the document sequence number to the bill number, or if you're not using document sequencing. Otherwise, the bill receivable is numbered when you save.

If you're using manual document sequencing, then you must enter a unique document number.

What happens if I assign an amount to the bill receivable?
This becomes the maximum amount for the bill. The total amount of the transactions applied to the bill must equal the designated maximum amount in order to complete the bill.

If you don't enter a maximum amount, the amount of the bill is calculated as the sum of the applied transaction amounts when you complete the bill.

Why doesn't the bill receivable have an accounting date?
Because the bill is a signed bill that requires drawee acceptance. Once the bill receivable is accepted, Receivables assigns an acceptance accounting date to the bill.

Can I continue to add and remove transactions to and from the bill

Why can't I create bills receivable from transactions?

Because you have to assign transactions both a bills receivable creation receipt method and a bill-to customer defined as a drawee. Only transactions with these assignments are eligible for bills receivable batches.receivable?
Yes, up until the bill is completed or, for bills that require acceptance, until the bill is accepted.

Can I incomplete and delete a bill receivable?
Yes, but you can only incomplete a bill receivable under certain conditions.

All of these conditions must be true:

The bill receivable is a signed bill with the status Pending Acceptance, or an unsigned or drawee-issued bill with the status Pending Remittance.

The bill has never been posted to general ledger.

There are no payments against the bill.

After you incomplete the bill you can delete it.

You can also incomplete a bill receivable to update details of the bill and complete the bill again.