Order Management Prepayment Setup

In this article I will demonstrate one more functionality of Oracle. Within the Order Management module it is possible to make pre-payments before even generating the final invoice for the product. Suppose a customer makes a purchase of a product and half of the production is necessary to 20% down. Within OM it is possible to do this without any customization. 

  • Change the profiles below

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  • Setup de Receipt Class on Receivables

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  • Setup de Receivables Activities on Receivables

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  • Setup a new document sequence on Order Management

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Create an order. After clicking Actions -> Payments 

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On the screen above, there are various types of payments, let’s pretend that the customer has paid in 20% cash input. A field of extreme importance is the Receipt Method, in this field it is determined how will be counted those 20%. The setup of this method of receiving is done in the module of Receivables. 

After registration click on the Process Payments button, if the prepayment settings are in agreement the system will generate a receipt in the Receivables module. 

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After the registration in the Receivables of the prepayment, the accounting can be done. The accounting is done based on the receiving method. 

Interestingly, at the end of production of the product and issued the final invoice, receipt of prepayment is applied to automatically note, thus leaving only 80% of debt to be released in late receipt. 

One advantages is also that prepayment / payment also has the option credit analysis, if your company have the Credit Management.

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I holp this help.

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