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Deposits in Fusion Receivables

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edited Feb 15, 2021 3:37PM in Receivables & Collections 3 comments

Summary

Deposits in Fusion Receivables

Content

Dear Experts

As far as I know in R12 Oracle EBS we can setup Deposits in AR , however I was not able to see it on Fusion Receivables I only saw the following options.

Bill Receivables

Charge Back

Credit Memo

Debit Memo

Invoice

Please Advise

In some scenarios, customer would like to get into a commitment/agreement with us that he is going to buy so and so goods from us in future and he is going to pay ahead for the goods he will buy from us in future.

Deposit lets you record such transactions, meaning it will record customer’s prepayment for goods and services that he will buy from us in the future. As and when you ship out the goods to the customer, you will create invoice and apply it to deposit which will indicate that the customer has used up certain amount from the original prepayment amount.

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