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Cloud Receivable Applied Credit Memo Accounting — Cloud Customer Connect
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Cloud Receivable Applied Credit Memo Accounting

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edited Feb 11, 2019 6:29PM in Receivables & Collections 1 comment

Summary

Cloud Receivable Applied Credit Memo Accounting

Content

Hello,

When a AR Credit Memo is applied to a AR Invoice, the following Accounting Entry is generated by Oracle Cloud Receivables:

Revenue A/C Debit 100
Receivables A/C Debit 100
Receivables A/C Credit 100
Receivables A/C Credit 100
 
But the Business Requirement is to see the below Accounting Entry:
 
Revenue A/C Debit 100
Receivables A/C Credit 100
Receivables A/C Debit 0
 
The Business requirement is: Not to increase the Receivable Balance and Reduce the Receivable Balance. Instead, they want to see the Net balance zero.
 
Is it possible to fulfill this requirement in Oracle Cloud Receivables.
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