How to Setup and Create Credit Memos in Receivables [Video]
Last updated on SEPTEMBER 20, 2017
Applies to:Oracle Receivables - Version 11.5.0 and later
Information in this document applies to any platform.
Form:ARXTWMAI.FMB - Transactions
Form:RAXSUMSC.FMB - Define Invoice Sources
Executable:RAXTRX - Autoinvoice Import Program
Oracle Receivables (AR): Transactions Workbench Information Center > <Note 215373.1>
Oracle Receivables (AR): AutoInvoice Information Center > <Note 215373.1>
Credit memos are created to reduce the balance due for a transaction. When you credit a transaction, Receivables creates the appropriate accounting entries and reverses any sales credit assigned to your salespeople.
There are 2 types of Credit Memos:
- On-Account Credit Memos which are created independent of a transaction. These maintain an open credit balance that is waiting to be applied to a customer's outstanding balance
- Applied Credit Memos which are created in reference to an existing transaction. The credit amount is applied against Invoices, Debit Memos, or Commitments impacting freight as well as invoice lines
You can create both types of credit memos:
- Manually - via the Transactions workbench
- Automatically - via AutoInvoice
This note discusses the setup steps and how to create and apply credit memos.
This note contains one or more video files for illustrative purposes. In order to view the video file, you will need to play it in either Internet Explorer or Firefox using a Flash Plugin.
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