Receivables - EBS (MOSC)

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Accounting for refund in Oracle receivables R12

edited Aug 9, 2016 5:00AM in Receivables - EBS (MOSC) 1 commentAnswered

Hi

Can someone please help me with the accounting that takes place in Oracle receivables refunds.

below are the steps i believe. If someone can help with the accounting that takes place in the below steps.

Scenario: An AR Invoice for INR 100 has been created , accounted and receipt is applied to the same. Now we want to create a credit memo of INR 50 against the same invoice.

1) Create a credit memo

2) Create a receipt and apply it to the same customer with activity as refund

3) An ap invoice will be created. Create accounting for it.

4) Pay the invoice.

Thanks

Radhika

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