How to sweep unaccounted invoices to next period in oracle cloud payables

Sweep Unaccounted invoices to next period in oracle cloud payables

In this post we will see how to sweep unaccounted invoices or transaction to next period in oracle cloud payables.

" Unaccounted transactions sweep report " program is used in oracle accounts payables to sweep the invoices to next period. During the period close , if there are any unaccounted invoices/transactions system will not allow us to close the period and hence it is very important either we solve all those errors or we sweep those transaction or invoices to next period and close the period. It is not suggestable to sweep the invoices or transactions to next period ( we have to resolve all the issues related to those transactions or invoices and then close the period ) but if the business allows you to sweep the transaction then we can close the periods.

Whenever we sweep unaccounted invoices to next period in oracle payables , system will automatically generates sweep report which shows are the transaction / invoices which are swept to next period.

Steps on "How to sweep unaccounted invoices to next period in oracle cloud payables".

Step 1: Navigator> Scheduled process

How to sweep unaccounted invoices or transaction to next period in oracle cloud payables

Step 2: Click on Schedule New Process

How to sweep unaccounted invoices to next period in oracle cloud payables

Step 3: Select “Payables Unaccounted Transactions and Sweep report” ESS Job

                                 How to sweep unaccounted invoices or transactions to next period in payables

Step 4: Select the parameters

  Steps to sweep unaccounted transactions invoices to next period in oracle payables

Report Level : You can sweep transaction either by business unit or ledger

Report Context :If you select ledger then select the ledger or if you select business unit select the business unit.

From Accounting/Period :You can sweep the unaccounted invoices either by accounting date or you can select he period. Select as required.

Sweep now :Select Yes if you want to sweep the unaccounted transaction or invoices now or not to see the transactions which will be swept.

Sweep To Period: If you select Yes in above parameter, then select the period to which these transactions will be swept (period should be open or future enterable)

Step 5: Click on Submit. Request will be submitted, Once the request is completed in succeeded status you can see the output report as well to see what transactions have been swept.

How to sweep unaccounted transaction invoices to next period in payables

How to sweep unaccounted invoices to next period in oracle cloud payables||steps to sweep unaccounted transactions in payables ||How to sweep unaccounted invoices to next period|| Unaccounted transaction sweep report

How to see accounting entries of oracle receivables transaction in oracle

In this post we will see the oracle receivables accounting entries, we will see how to view the accounting entries of a receivables/AR transaction or Invoice in oracle cloud.

Pre-requisite:  The Transaction must be posted/accounted 

Steps to see the accounting entries of a oracle receivables/AR transaction or invoice in oracle cloud 

Steps to see oracle receivables accounting entries in oracle cloud

Step 1: Home > Receivables > billing

how to see accounting entries of oracle receivables transaction in oracle cloud

Step 2: In task pane select Manage transaction

how to see accounting entries of oracle receivables transaction in oracle cloud

Step 3: Enter the transaction number and click on search. Transaction will appear in result. Click on it. Transaction will open up

how to see accounting entries of oracle receivables transaction in oracle cloud

Step 4: Click on Action and Click View Accounting

how to see accounting entries of receivables transaction in oracle cloud

You will be able to see the ar accounting of oracle Receivable Transaction

how to see accounting entries of oracle receivables transaction in oracle cloud

Accounting Entries of oracle receivable transaction How to see accounting entries of a receivable transaction| AR accounting entries in oracle 

How to create manual journal in oracle cloud

In this post we have discussed how to create manual journal in oracle cloud in detail.

To create a manual journal in oracle cloud please follow the below steps.

Step 1: Log in to oracle cloud navigator >General Accounting >Journals 

How to create manual journal in oracle cloud

Step 2: Select the correct ledger and data access set in which you want to create manual journal 

How to create manual journal in oracle cloud

Step 3: From the task pane select Create Journal.

How to create manual journal in oracle Cloud

Step 4: Enter the journal header details

Journal Batch name, batch description, Accounting Period, Journal Name, Journal Description, Ledger, Accounting date, Category and Currency.

How to create manual journal in oracle cloud 

Step 5: Under journal lines you need to enter credit and debit lines. Click in the search Icon to select the combination for credit and debit and enter the credit and debit amounts.

How to create manual journal in oracle cloud

After filling credit and debit lines it will appear like this

How to create manual journal in oracle cloud

Step 6: Once all details for the journals are filled. Perform the following in sequence

            Save > Complete > Post

steps to create manual journal in oracle cloud

Your manual journal in oracle will be posted to the ledger.

Click to read : How to search a payables/invoice journal in general ledger

How to create manual journal in oracle|steps to create manual journal in oracle cloud

How to delete Journal in oracle cloud

In this post we will see how to delete a journal in oracle cloud general ledger.

Steps for how to delete a journal in oracle cloud 

Pre-requisite:

Journal must be present in the system

Journal must be un-posted

Steps to delete GL Journal in oracle cloud

Step 1: Home>General Accounting Journal 

How to delete a Journal in oracle cloud

Step 2: In Task pane Click Manage Journal

How to delete a Journal in Oracle cloud

Step 3: Select the proper data access set. Enter the journal batch name and click on search. Journal will appear in results. Click on the hyperlink to open the journal

How to delete a Journal in Oracle cloud

Step 4: In Batch Actions down arrow select Delete

How to delete a Journal in Oracle cloud

Step 5: A pop up will come up click Yes

Steps to delete a journal in oracle cloud

How to delete a Journal in Oracle cloud|Steps to delete a journal in oracle cloud

What is a Credit memo

In this post we all will understand in detail "what is a credit memo". 

What is a credit memo in general?

Credit memo is one of the types of invoice, which is issued by supplier in order to reduce the buyer’s liability. So, in short credit memo is issued by a supplier to a buyer in order to reduce buyer’s liability.

Let’s understand credit memo with an example.

Suppose company ABC has purchased 10 items form XYZ. Now ABC is buyer here and XYZ is supplier. ABC has received 8 correct items and 2 items as defective Item. ABC is liable to pay for 8 Item’s only.

In this case supplier XYZ will send a negative invoice of 2 items reducing the liability of buyer XYZ.

A credit memo sometimes classified as an internal credit memo, in such cases we don't send any copies to the buyer. When we have to write off the customer outstanding balance we use this type of approach.

A credit memo sometimes used as an alternate term to "credit memorandum". Hence sometimes it is also referred as “Credit memorandum.

Sometimes credit memo also referred as credit note.

Credit memo|What is a credit memo|Credit memo in detial

Setup Distribution sets in Oracle Cloud Receivables

In this post we will see what is distribution sets in oracle receivables and how to setup distribution sets in oracle cloud receivables

Distribution sets in oracle cloud receivables are used for non invoice related incomes like miscellaneous income which needs to be distributed across more than one GL account codes.

Distribution sets in oracle receivables are related to Miscellaneous Receipts, this means there is no AR invoice against these receipts in the system. 

Distribution sets in oracle receivables provides the facility to allocate miscellaneous transaction amounts across different general ledger accounts. 

Distribution sets speeds up our receivables accounting by reducing time required on data entry. 

Following are the steps in detail which shows how to setup distribution sets in oracle cloud receivables

Step 1: Navigator > Setup and maintenance

how to setup Distribution sets in oracle cloud receivables

 Step 2 : Select Offering as Financial 

how to setup Distribution sets in oracle cloud receivables

Step 3 : search for the task > Manage Receivables distribution sets

how to setup Distribution sets in oracle cloud receivables

Step 4 : Click on the ( + ) Icon to create new receivable distribution set

Step 5 : Enter distribution sets details like Business unit , Name and distribution set Account     combination. The Sum of percentages should always be equal to 100 for any distribution set. 

 Once you fill all the details click Save and close

Receivable distribution sets

What is Distribution sets In oracle cloud Receivables | how to Setup Receivables Distribution sets in oracle cloud

How to read MT940 bank statement format

How to read MT940 bank statement format

In this post we will see in detail how to read a MT940 bank statement format in detail by ourselves.

MT940 bank statement file format/specification in detail

In this post we will see a sample MT940 bank statement in detail and will also see how to read a mt940 bank statement format in detail. We will also see all MT940 bank statement format specifications in details.

Sample MT940 bank statement format/Specifications 

First of all lets see an example of sample MT940 bank statement file. How does MT940 bank statement/format file looks like.

Below is the sample MT940 bank statement file for oracle.

How to read MT940 bank statement format/ MT940 file format sample/example

Now Let us know How to read MT940 bank statement format in detail  

All tags in above MT940 bank statement format/sample/example are explained below in detail

20 : This is transaction reference number

It has statement generation date along with few characters. This is mandatory tag.

25: This is Account number

This is bank Account number for the bank. This should exactly match the account number in system. This is also a mandatory tag.

28C: This is statement number Tag

This is automatic generated by bank and this is your bank statement number. This is also mandatory tag.

60F or 60M: This is opening balance Tag

This is a mandatory tag. This shows the the opening balance for that bank account.

You can read it like this C/D(credit or debit) followed by date, followed by currency, followed by amount

See the example for reference

C190913GBP997724,74 ( here C shows it’s credit balance then we have date at the time of this balance, then currency, then amount, “,” indicates .(decimal) and 74 comes after decimal ))

61: This is actual statement line Tag

:61:1909160916D3375,00NTRFFT19259JWXRF//FT19259JWXRF

How to read this : 190916 is date 19^th sep 2016, then we have month and year again, then D indicates it’s a debit amount i.e payment and then we have actual amount, then we have transaction type code “NTRF” then we have customer reference (used for reconciliation).

86: This is additional information tag

This will have any additional information relate to payment and receipts. This is Optional Tag.

62F or 63M: This is closing balance tag

This is mandatory tag. This will show the closing balance for the account.

64: This shows Funds available to the owner

This is optional tag. This shows the funds available to the owner 

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