ERPstuff - Oracle EBS Community

Hi,

The company Issues checks for Product warranty with future dates to Customers. After product warranty over, the customers return the checks to the company, This indicates Contingent Liabilty.

Please let me know, how can we record the checks issue to customers with future dates.


Thanks & Regards,
Anjireddy.

Hi Anjireddy

If you please explain how this issue will be in the accounting wise because I have an idea if this check not effect on the balance sheet or customer balance. just record on the system.

Thanks
Hisham

Hi,

Thank you for Replying,

These checks dont effect both of the customer & B/S Balances...just record as the contingent liability, and we must know the Future date of the check for reporting purpose and returned the checks from customers after the maturity date is over.


Thanks & Regards
Anjireddy

HI Anjireddy

Define a transaction type in the AR module (warranty) with class invoice then make sure the options open receivable & post to GL are not checked then define a DFF on the transaction form with your extra information (Future date, returned checks date, ...).

So when you enter the invoice type warranty, it will not effect on customer or TB. Only for reporting & keeping information according to each customer then you can extract these data from transaction summary.

Hope I can help you
Hisham

Hi Hisham,

Thanks for solution and for your quick reply.

I will do as you mentioned and make notice to you the result.


Thanks & Regards
Anjireddy

Hi Hisham,

The company needs to issue the check if we define and enter the invoice type warranty,..then how can we issue the check to customer.

Please let me know the details, i did not find proper solution.... can we create invoice type credit memo and refund to particular transaction...?


Thanks & Regards,
Anjireddy

Hi Anjireddy

You can print the check using a customization report to print the check with type warranty.

Also you can make another transaction type (credit memo) to refund the transaction or add DFF for the invoice warranty with status Open / close.

Thanks
Hisham