Auto Invoice and Auto Accounting & RevRecognition

[anu_uma]

Hi All,

can Anyone share more knowledge on Autoinvoice , Auto Accounting and Revenue Recognition Concepts in Receivables

If possible with the Set up steps that are involved ?

[Dhananjay]

Hi Uma

Trying to answer your querries in short as under ......

1) Auto Invoice : Once material reached to ship confirm stage , Auto Invoice will be generated in Receivables. Process for running Auto Invoice :- 1) First switch responsibility to to Manufacturing & Distribution
2) In Inventory >>>> Transactions>>>> Misc. Transactions>>>>Select Organisation .
3) Switch to System Administrator , 4) Select workflow background, process >>>> system will update Inventory, Pickup SO and creates Invoice in AR.

2) Auto Accounting : It determines how AR creates the GL Accounting Flexfield combinations for revenue,receivables,freight,tax, unbilled receivables,unearned revenue etc. But this feature is limited only for the accounts required during Invoice & Debit Memo. Auto Accounting can not use in receipt entry such as unapplied receipts or on a/c receipts etc. Set up for Auto Accounting in receivable : Setup>>>>Transactions>>>>> Auto Accounting

3) Revenue Recognition : We can recognise the revenue immediately or periodically. In receivable module when we create setups:
SetUp >>>Receipts>>>Receivable Activity : We use receivable activity for non-inventory & non-customer cash receipts. It includes adjustment, misc.cash, earned/unearned discounts, finance charges etc. Similarly in Setup >>> Transaction >>>>Memo Lines (This we use for non-inventory revenue) >>>> We can define here Invoicing Rules and Accounting Rules >>>> Invoicing Rules are for whether invoicing is to be done in advance or in arrears and Accounting Rules are for Revenue Recognition>>>> Immediately or Periodically.


Hope, I have clarified the concepts in short.....

Regards
Dhananjay