please correct the revenue account assignment in oracle apps r12

Steps to be considered when we get ‘Please Correct Revenue Account Assignment’ in AR Autoinvoice import program?

Introduction :

This is used to fix the invalid revenue account for AR invoice

Auto accounting is used to determine the accounts when the distribution table is not populated. When Auto Invoice gives this error, it generally gives the account with the missing segment(s).

Menu: Setup>Transactions>Auto accounting Query the account mentioned in the above error and note the setup for that missing segment.

If it is based on:

Transaction Type – Menu: Setup>Transaction>Transaction Types, and verify that all accounts are populated.

Salesperson – Menu: Setup>Transactions>Salespersons, and verify that all accounts are populated.

Standard Lines – For an Inventory Item navigate to Menu: Setup>Transactions>Items>Inventory items, and verify that the ‘Sales Account’ is populated in the ‘Invoicing’ alternate region. For a Memo Line, navigate to Setup =>Transactions =>Memo Lines, and make sure that ‘Revenue Account’ is populated.

Taxes – Menu: Setup>Tax>Codes and verify that account is populated in ‘Tax’ column under the ‘Accounting’ alternate region. Additionally the following can be checked: Setup of Cross Validation Rules. Run Cross validation Listing Report in GL to identify the cross validation rule stopping the import of this line.

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Prerequisites

R12 – Receivables Setups (AR) in Oracle Apps

• Define Chart of Accounts 
• Define Currencies 
• Define Calendars 
• Define Calendar Period Types 
• Define Ledger
• Assign Ledger to a Responsibility 

Define Chart of Accounts: Define Segments:  Navigation: General Ledger –> Setups –> Flexfields –> Key –> Segments. Query With Accounting Flexfield and click on New. Give your coa name and save.

Click on Segments. Enter your segments names.

Navigation: General Ledger –> Setups –> Flexfields –> Key –>Values. Enter the below information and click on find button.

Enter the company values names and save your work.

Like wish define values for all reaming segments. Define Currencies: Navigation: General Ledger –> Setup –> Currencies –> Define. Enter information and save.

Define Calendar Period Types: Navigation: Setup –> Financials –> Calendars –> Types. Enter the information and save.

Define Calendar: Navigation: Setup –> Financials –> Calendars –> Accounting.

Save. Define Ledger  : See this post for how to define Ledger in R12 . Assign Ledger to a Responsibility: Navigation: System Administrator –> Profile –> Systems.

Click on find. Assign Ledger to GL Responsibility.

Save. Oracle Inventory Setup Steps:

• Define Operating Unit.
• Define Inventory Organizations
• Define Items 

Define Operating Unit:

Enter information in the required fields.

Save your work and click on othres. click on Accounting information.

Enter the required information and save.

Click on Others and select the inventory information.

Under Inventory Parameters tab enter the following information.

Under Costing Information tab enter the following information.

Under the other accounts tab enter the required information.

• Define System Options
• Define Transaction Flexfield Structure
• Define Sales Tax Location Flexfield Structure
• Define AutoCash Rule Sets
• Define Receivables Lookups
• Define Invoice Line Ordering Rules
• Define Grouping Rules
• Define Application Rule Sets
• Define Payment Terms
• Define AutoAccounting
• Open or Close Accounting Periods
• Define Transaction Types
• Define Transaction Sources
• Define Collectors
• Define Approval Limits
• Define Remittance Banks
• Define Receivables Activities
• Define Receipt Classes
• Define Receipt Sources
• Define Payment Methods
•  Define Statement Cycles
• Define System Profile Options
• Define Salespersons
• Define Customer Profile Classes
• Define Customers
• Define Remit–To Addresses

Define Remittance Banks: Proceed to the next step if you already defined your remittance banks in Oracle Payables. Define all of the banks and bank accounts you use to remit your payments. You can define as many banks and bank accounts as you need and define multiple currency bank accounts to accept payments in more than one currency. Define Receivables Activities Define Receivables Activities to provide default accounting information when you create adjustments, discounts, finance charges, miscellaneous cash transactions, and bills receivable. Receivables also uses Receivables Activities to account for tax if you calculate tax on these activities. Navigation: Receivables –> Setup –> Receipts –> Receivable Activities.

Like wise we should define reaming receivable actives also. Define Receipt Classes: Define receipt classes to specify whether receipts are created manually or automatically. For manual receipts, you can specify whether to automatically remit it to the bank and/or clear your accounts. For automatic receipts, you can specify a remittance and clearance method, and whether receipts using this class require confirmation. Navigation: Receivables –> Setup –> Receipts –> Receipts Class.

Click on Bank accounts. Enter information in respective fields.

Save your work. Define Payment Method: Define the payment methods to account for your receipt entries and applications and to determine a customer’s remittance bank information. When defining payment methods, you must enter a receipt class, remittance bank information, and the accounts associated with your payment receivables type. You can also specify accounts for confirmation, remittance, factoring, bank charges, and short–term debt. Navigation: Receivables –> Setup –> Receipts –> Receipts Class.

Define Statement Cycles:   Define statement cycles to control when you create customer statements. You assign statement cycles to customers in the Customer Profile Classes window. Navigation: Receivables –> Setup –> Print –> Statement Cycle.

Define profile options:   Define profile options to provide default values for some Receivables operations, specify how Receivables processes data, and control which actions users can perform. Navigation: Administrator –> Profile –> Systems. During your implementation, you set a value for each Receivables user profile option to specify how Receivables controls access to and processes data. Receivables lets you govern the behavior of many of the windows that use profile options. Profile options can be set at the following levels: • Site: This is the lowest profile level. Site level profile option values affect the way all applications run at a given site. • Application: These profile option values affect the way a given application runs. • Responsibility: These profile option values affect the way applications run for all users of a given responsibility. • User: These profile option values affect the way applications run for a specific application user. The values you enter for options at the User level supersede the values that your system administrator has entered for you for these options. Each of these user profile options affect the behavior of Receivables in different contexts. In Receivables, operations that profile options can affect include receipt application, the entry of adjustments, the creation and remittance of automatic receipts and taxes, and posting to your general ledger. You may also have additional user profile options on your system that are specific to applications other than Receivables. To change profile options at the Site, Application, or Responsibility level, choose the System Administrator responsibility, then navigate to the Personal Profile Values window. Query the Profile Name field to display the profile options with their current settings, make your changes, then save your work. You can change profile options at the user level in the Personal Profile Values window. To do this, navigate to the Personal Profile Values window, query the profile option to change, enter a new User Value, then save your work. Generally, your system administrator sets and updates profile values at each level. Attention: For any changes that you make to profile options to take effect, you must either exit, and then reenter Receivables, or switch responsibilities.

    Define Salespersons: Define salespersons to allocate sales credits to invoices, debit memos, and commitments. If you do not want to assign sales credits for a transaction, you can enter No Sales Credit. If AutoAccounting depends on salesperson, Receivables uses the general ledger accounts that you enter for each salesperson along with your AutoAccounting rules to determine the default revenue, freight, and receivable accounts for transactions. Define Customer Profile Classes: Define customer profile classes to categorize customers based on credit, payment terms, statement cycle, automatic receipt, finance charge, dunning, and invoicing information. When you initially set up your customers, you assign each customer to a profile class. To customize the profile class for a specific customer, use the Customer Profile Classes window. Navigation: Receivables –> Customers –> Profile Classes. In Profile Class window enter the following information.

In Profile class Amount tab enter the following information.

Save your work. Define Customers: Define customers and customer site uses to enter transactions and receipts in Receivables. When you enter a new customer, you must enter the customer’s name, profile class and number (if automatic customer numbering is set to No). You can optionally enter customer addresses, contacts, site uses and telephone numbers. You must enter all the components of your chosen Sales Tax Location Flexfield when entering customer addresses in your home country. Navigation: Receivables –> Customers –> Standard. Define Remit–To Addresses:   Define remit–to addresses to inform your customers where to send payments. Associate each remit–to address with one or more state, country, and postal code combinations. For example, if you want your customers in California and Nevada to send their payments to a specific address, enter the remit–to address and associate the states CA and NV with this address. Remit–to addresses are assigned based on the bill–to address on the transaction. Navigation: Setup –> Print –> Remit-to-addresses. Click on Create Remit to addresses.

Enter the required information 

Click on Apply. Enter the country name in the same page and then click on the GO. Click on the Receipts form Create button.

Enter the following information and click on Apply button.

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Receivables - EBS (MOSC)

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Sample Code to use AR_INVOICE_API_PUB.create_single_invoice for creating AR invoices in R12.1.3 vers

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Monday, April 26, 2010

Accounting entries in r12 account receivables, do you think this article is useful.

2 Responses to “Accounting entries in R12 Account Receivables”

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Helpful for interviews.... Thanks a Lot!!

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