Oracle iReceivables

Overview of i Receivables:

Oracle iReceivables is an online invoice presentment, dispute, and payment solution that enables external and internal users to inquire about their accounts and transactions, pay invoices, and dispute invoices via a streamlined credit memo workflow and it helps you reduce the cost of billing and collections while improving overall customer service.
Oracle iReceivables gives the customers self-service access to their accounts with real-time balance and transaction information. T
he Home page gives customers quick access to their account information with drill down capability to specific details. It shows transaction balance and aging information, supports print requests, gives discount alerts, and shows credit memo status



iReceivables Features:
-Customer Search
-Accont Details
-Interactive Invoice
-Payment and Credit memo display
-Dispute a bill
-Credit Memo Workflow
-Automatic Credit memo creation.
-Credit memo Request Confirmation Page


Oracle iReceivables gives your Customers Self-Service Account Management

• Export transaction data to spreadsheet
• Attach documents to transactions
• Manage Payments and Ensure Data Security
• Duplicate dispute warning
• One-time credit card payment
• Configurable service charges
• Customizable transaction search.

Simplify the Payment Processes:

• Anonymous user login:
  The Anonymous User Login feature allows external customers to log in by only entering an account number. Therefore, customers can access their customer account data without having to register for a username and password. Companies can customize this feature to take the users directly to the page they need to access the most, for example, the Account Details page or the Home page.
  The benefits of Anonymous User Login are: 1) it removes the registration overhead for users accessing Oracle iReceivables on the one-time basis. 2)It also speeds up the log-in and navigation process for them. As a result, customers are encouraged to make online payments in a more timely manner.
• Multi-pay and multi-print:
  -The Multi-Pay feature allows the customers to select multiple invoices and pay all of them at once using credit card or bank account transfer. With this feature, customers no longer have to navigate into each invoice and pay them one by one. Instead, they can just select all the invoices they want to pay in the Account Details page and pay them all at once.
  -The Multi-Print feature allows customers to select multiple invoices and print all of them at once. The print format is defined in Oracle Receivables, including PDF, HTML, text, XML, PostScript, etc. Once the print job is completed, the customers will receive an e-mail notification containing a link for accessing the printed documents. The link allows for one-time access only.
  

Why do companies want to use Oracle iReceivables?

1. To remove their paper invoices and reduce the mailing and faxing overhead for their invoices. 2. To reduce the manual payment applications and receive payments from their customers more quickly. 3. To reduce phone calls and automate their collections and customer services. 4. To be able to resolve bill disputes quickly and improve their customer satisfaction.

Oracle iReceivables supports :

• A paperless enterprises It streamlines the dispute processes to help reduce the DSO (Days Sales Outstanding)
• It provides customers with self-service payment options such as credit card or bank account, and payment scheduling.
• It enables companies to collaborate with their customers through the self-service account management.
• It automates user administration and registration and expedites online access for one-time users.
  

Oracle iReceivables Modules Intergration:

1. It integrates with Oracle Receivables to provide real-time transaction status and details.

2. It with Oracle Trading Community Architecture to provide real-time account access and customer information.

3. It integrates with Oracle iPayment to enable online payment application and processing.

4. It integrates with Oracle Workflow to provide automated credit memo and multi-print processing.

5. integrates with Bill Presentment Architecture, which provides customizable bill presentment templates.

6. It integrates with Oracle Application Framework to enable personalized display of account information.

• Set the Profile option, Currency:Negative Format correctly so that negative numbers have the negative sign not brackets to facilitate exporting to Microsoft Excel.
• Set the profile option FND:View Object Max Fetch Size, so that all transactions can be viewed on a single page rather than scrolling pages.
• setup of External users is done by the party number assigned to a contact.
  

Mobile Accounts:

• Provides anytime, anywhere access to the application via a web enabled mobile device
  Designed specifically for mobile devices
• For internal (Management , Collection Agents and sales reps) and external users (customers)
• Access for internal and external users can be restricted based on configurable function security Integrated with Mobile Customer Directory
  

Mobile Accounts provides the following information about a customer :
–Account Overview
–Credit Information
–Recent Activity
–Aging

Features:
–Robust Customer Search using Mobile Customer Directory
–Powerful Transaction Search
–Ability to drill down to the Transaction Detail
–Pay an invoice
–Configurable access control
–Efficient non-hierarchical navigational menus

setups:

1. Defind iReceivables Internal Users2

. Defind iReceivables External users and customer Access

3. Define Function Security

4. Index the Customer Database

5. Set up for Self Registraion

6. Setup for Anonymous user login

7. Define Service Charges

8. Review and update Receivables lookups

9. Set the proifle option fo agining buckets

10.Define currencies for customers and customer bill to sites.

11. Define Receipt Class and Payment methodl

12. Set receivables system option for ireceivables payments.

13. setup document sequencing for ireceivables receipts.

14. Set Profile option for ACH Bank accoun transfer payments

15. Modify the dispaly of account information

16. Set profile option for bill presentment architecuture.

17. intergra ireceivables into your business processes.

for more information pls go through the implementation guide and user guide.

Ramification of Invoice Match to PO and Invoice Match to Receipt

Oracle Payables shares purchase order information from your purchasing system to enable online matching with invoices. Invoiced or billed items are matched to the original purchase orders to ensure that you pay only for the goods or services you ordered and/or received. If you are billed for an item over the amount and quantity tolerances you define in the Invoice Tolerance window, during Approval, Oracle Payables applies a hold to the invoice, which prevents payment.
Oracle Payables supports three levels of matching which verify that purchase order and
invoice information match within defined tolerances.

Match Approval Level: 2-Way , 3-Way, 4-Way.

In 2-way: what ever you have ordered for the PO you will make the payment for the suppliers in 2- way i.e we will compare two documents PO and Invoice.
2-way matching verifies that Purchase order and invoice information match within your tolerances:
Quantity billed <= Quantity Ordered Invoice price <= Purchase order price Eg:Suppose we Had given PO for 100 items ,for that we will receive invoice for 100 items. so that we will make payment for that 100 items.
 In 3-Way you will compare 3 documents i.e PO+receipt+Invoice.
3-way matching verifies that the receipt and invoice information match with the quantity tolerances defined:
Quantity billed <= Quantity received. Eg:Suppose we have ordered 100 items in PO. But we had received only 75 items ,But we had received invoice for 100 items. so, we will make payment for only 75 items.
 In 4-Way you will compare 4 documents i.e PO+Receipt+Invoice+Inspection.
4-way matching verifies that acceptance documents and invoice information match within the quantity tolerances defined:
Quantity billed <= Quantity accepted. Eg:Suppose we have 100 items in PO. Suppers send us 75 items We will do inspection on those items what ever we have received, If 15items got damaged. finally, we are going to make payment to the 60 items only. When you match to a purchase order, Payables automatically checks that the total of PO_DISTRIBUTIONS.QUANTITY_ORDERED = AP_INVOICE_DISTRIBUTIONS.QUANTITY_INVOICED (2-way matching). Payables only checks QUANTITY_RECEIVED (3-way matching) if the RECEIPT_REQUIRED_FLAG is set to Y and only checks QUANTITY_ACCEPTED (4-way matching) if the INSPECTION_REQUIRED_FLAG is set to Y.

Invoice Match Option:
The Invoice Match Option determines whether or not you intend to match invoices for this supplier against purchase orders or receipts.
Invoice Match option to PO Match:
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•Payables must match the invoice to the purchase order.
•If the Invoice is matched to a PO rather than to the Receipt when the AP team do a match they have the full PO available to match rather than just the specific lines on the PO that were received.
•There is a possibility someone in payables matching to the wrong distribution if they use Match to PO.

•The accrual is valued at the PO exchange rate date.

Invoice Match option to Receipt:
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•Payables must match the invoice to the receipt.
•Receipt Match Option is recommended if you want accounting to use exchange rate information based on the receipt date or if you want to update exchange rate information on the receipt.
•If you use the match to receipt option AP team can't match until the goods are received. If the receiving doesn't happen there is no way to associate the invoice with the PO.
•Invoice processing will be on hold till a receipt is entered into the system.
•Receipt Match option determines the cost with more accuracy i.e. Match to Material item receipt and link other invoice charges to receipt and You can now also associate freight, tax, and miscellaneous charges from invoices to the related receipt.
•Run the Matching Detail Report from Other -> Request -> Run. This report will show you detail of how an invoice, purchase order, or receipt was matched. This report is especially helpful when an invoice is on hold and you are trying determine why the hold was placed.

The Invoice Match Option defaults from the Supplier Sites window. You can change the Invoice Match Option on the shipment until you receive against the shipment.

Financial Options - Invoice Match Option:
For purchase order shipments, indicate whether you want to match invoices to purchase orders or to purchase order receipts. If the supplier was created automatically during Expense Report Import, the default value is Purchase Order, and you can change it to Receipts as appropriate.

The decision to set the Invoice match option to Receipt or Purchase Order depends on Business Needs.
•If you are using Multi Currency Functionality for Purchase Order and if like to have the rate based on Receipt date you need to go with Receipt Match at the invoice match option.
•The main advantage is the Exchange Rate factor i.e. Receipt/Current Date instead of Purchaser Order date.
•Receipt Match gives much closer control of the matching process,Particularly where you have multiple receipts of large purchase order.

If a Business is using Invoice Match option Purchase Order and like to change from Purchase Order to Receipt Match, then what would be the impact?

•All Supplier sites need to be updated with Invoice Match option to Receipt.
•Purchase orders which are already approved with Invoice Match Option of Purchase order should continue with the same existing process.
•All existing Open PO, which need a change from Purchase Order to Receipt, should be corrected by changing the invoice match option in the purchase order shipment to Receipt. Payables team should match invoices to Receipt for all Purchase Orders created after the cut-off date.
•Training to AP/PO users.

In order for the receipt to use the current exchange rate and not the PO exchange rate, the Invoice Match Option at the system level and on the suppliers should be Receipt, not Purchase Order.

Overview on Financial Accounting Hub

What is Financial Services Accounting Hub (FSAH pronounced as F-SAA):

Oracle Financials Accounting Hub (FAH) allows you to efficiently create detailed, auditable, reconcilable accounting from a variety of source systems and it address the complex demands of centralizing financial operational data, standardizing accounting and reporting policies, and accelerating regulatory information and management reporting cycles.

It is basically standalone Subledger Accounting (SLA), it allows you to use Oracle SLA and GL to perform the accounting for third party applications.

Financial Services Accounting Hub is a separately licensable product.

What is in the hub?
-Transformation of information from disparate systems into centrally and consistently maintained accounting repository.
-Create and store rules for the transformation of data.
-Secure both information and setup definitions.
-Load journal entry information into the accounting repository.

In 11.5.10, the Oracle AP, AR, FA modules have their own respective accounting engines to derive the accounting to Oracle GL. However, in R12, AP, AR, FA and many of the eBusiness Suite modules will use Subledger Accounting (the FSAH engine) to derive the accounting to Oracle GL. The version of FSAH that you have is not setup to derive the accounting from the subledger products (AP, AR, FA) at this time, so FSAH plays no role in interacting with the Oracle Subledgers in 11.5.10.

FSAH is only available in Release 12. FSAH requires the R12 General Ledger.
The E-Business Suite for Release 12 will use subledger accounting (SLA), which is the engine for FSAH and it will allow integration from AP, AR, and FA to GL.

FSAH is designed to work with Oracle and non-Oracle Applications; therefore, with some customization, FSAH can also work with EBS 11i--i.e., you can integrate the two ledgers from 11i and R12.



Note: FSAH is renamed and it is now called as FAH, FAH is only available in Release 12. FAH requires the R12 General Ledger.FAH is only available in Release 12. FAH requires the R12 General Ledger.

Financials Accounting Hub (FAH) is an offering that enables financial institutions to address the complex demands of centralizing financial operational data, standardizing accounting and reporting policies, and accelerating regulatory information and management reporting cycles. Financials Accounting Hub is a separately licensable product. It is basically standalone Subledger Accounting (SLA). This solution is being offered to Oracle and non-Oracle customers. It was originally intended to fill a market need in the financial services industry -- i.e., banks and financial institutions; however, it is now being offered to customers in other industries such as paint manufacturers, insurance companies, and the healthcare industry.