Clearing & Reconciliation for Misc. Receipts

[Pooja]

Hi

We are using a Receipt Class with
Creation Method - manual
Remittance Method - No remittance, and
Clearance method - by automatic clearing

When we prepare a standard receipt, the cash clearing account gets debit and then on clearing, the actual cash account gets debit

but, when we use miscellaneous receipts, the actual cash account gets debit directly.

The difference I am able to figure out in the 2 cases is that misc. receipts doesn't have any maturity date.

Please help in understanding why this thing happens

Thanks a lot

[Willynelly1]

Hi,

Step1 -Define Receipts souces:
Operating Unit: XYZ Co.
Name : Misc. Receipts
Desc.: Misc. receipts-Cash & Bank

Receipt Source type - Manual

Receipt Class :Standard
Batch Numbering : Manual.

Setup- Banks

Create Bank name : Clearing Bank
Click Bank Accounts Button

Under Bank Name -Clearing Bank
Bank Accounts - Define clearing bank a/c name

Under tab GL Accounts - define cash gl a/c as - control a/c
Define the payment documents -

Go to receipts: Select the payment method and receipt type Misc.
Activity is your control a/c.
Cash or bank a/c Debited, and control a/c credited.
Month end reconcile your a/c.

Standard Receipts: Debit cash, credit customers.

Need more explanation, Oracle user Receivable guide, Receipts.


Williams.