How to Balance Revenue Account when Invoice / Debit Memo Does Not Knock Off After Applying Credit Memo (Doc ID 1554537.1)

Last updated on AUGUST 05, 2016

Applies to:

Oracle Receivables - Version 12.1.1 and later
Information in this document applies to any platform.
ARXTWMAI Transactions Form
Create Accounting
View Accounting

Goal

Customer has created an Invoice (or Debit Memo) with Revenue Account 1 and Receivable Account 1 for Amount 10,000.00

It was being applied to Credit Memo with Revenue Account 2 and Receivable Account 2 for Amount 5,000.00

System will generate Accounting Entries for Receivables Account as
Receivable Account 1 Cr
Receivable Account 2 Dr

So the Receivables Account get Knocked off / balanced for amount 5000 

Revenue Accounts are not getting knocked off.

Lets take an Example

Invoice has following entries :


01-000-1210-0000-000 Receivable DR   10,000
01-000-4150-0000-000 Revenue CR  10,000


Solution

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