Is there a provision to create receipt correction automatically from Credit Memo

Summary:

Currently we have implemented procure to pay cycle for a power and utility client. We also have a Custom PaaS solution on VBCS Platform which initiates timely payments to suppliers based on the project they work on week to week basis. The flow goes like this →

1. Suppliers create timecards in PaaS solution (Timecard is like a time entry where in they enter the hours worked for Labor and the equipment used).
2. The system calculates the timecard amount which supplier submits for approval
3. The Client approves the timecard
4. The approved timecard comes back to oracle and creates Receipt and Invoice.