Processing Cash Receipts-Oracle Apps

Processing Cash Receipts

There are three steps to processing cash receipts:

1.       Enter a receipt

2.       Apply the receipt

3.       Create journal entries

Order To Cash Cycle - Cash Receipt Processing Steps

The last process in the Order to Cash Cycle is to collect payment from your customer.  The first step is to enter the receipt.  You can enter a receipt three ways:  manually entering it, using the lockbox program, or by using automatic receipt process.  After the cash receipt has been entered into the Receivables module, you will need to apply the receipt to your invoice.

Apply cash receipt varies based on how you have entered the receipt in step 1.  If you have manually entered your receipt, then you will need to manually apply the receipt to your invoice.  If you are using the lockbox program, you can set rules to automatically apply the receipt.   Sometimes, you will still need to apply the receipt manually if the lockbox program cannot determine the correct invoice.  Lastly if you are creating receipts using the automatic receipt process, the receipt is automatically when the receipt is created.