What are all the ways to handle Customer Prepayments?

Can any one through some light on the options available to handle customer prepayments in Oracle Receivables?

I come across some options like Using Order Management we can create Prepayment Receipts and later it will get applied when the Invoice got generated, but not sure what are all the challenges we can face using this approach.

Instead thinking to create a manual Receipt for the advance payment & Apply to a Receivable Activity (Prepayment Type) and when the Invoice got generated, user has to manually apply this Receipt.

Appreciate your inputs on this.

Regards

Uday