Hi Arvind, Receipt reversal is usually done when the customer wants to pay thru another means after issuing the cheque. For an example, the customer wants to transfer money electronically or he wants to pay thru his bank a/c -B; so he requests that the cheque of his a/c - A is returned to him. [However, this can be possible after receipt creation but before cheque deposit in bank (for collection)]. In case if cheque being returned by Bank for insufficient funds, receipt not to be reversed. Instead, Dr Note to be raised with 0 days credit period. Initial Invoice will remain closed and new Dr Note will be in open status till customer pays. Because, cheque bouncing is unaccepted and even a crime; so, this cannot be treated equal to normal customer request for cheque return. Please correct me if my understanding is wrong.
Hi Lakshman, there are various scenarios where you want to reverse. I had just given one example of check dishonor, but there could be many other reasons. My intention of this video is to focus on receipt reversal process and hence i did not stress much on the actual business scenarios of receipt reversal
@@OracleEbizandFusionVideos You are right that your focus was in receipt reversal functionality in Oracle Receivable. As few viewers of this video may be less experienced in business, they may conclude that receipt can be reversed even for cheque bouncing which is not the case. Being the guru, you are expected to be perfect! :-) Being students, we have the freedom to make mistakes and will be corrected by gurus like you! :-)
Dear arvind sir thanks again for uploading another video . I hope after a long gap around one month u have uploaded this video. Dear sir could u make a video on automatic receipt method ? I have gone through all the video u have uploaded in past and these are awesome
Hi Aravind - Good one.But In case of a consolidated bill, can a receipt be applied (and reversed) at consolidated bill level , account level, site level or only at individual transaction level ?
Dear Arvind, how to fix if we get message "Please account the receipt before updating Customer Details" while doing Reverse or try to update Customer for Unapplied Receipt.
@@OracleEbizandFusionVideos yes, in goods receipt note i was supposed to enter rs.100.09 but I entered rs 109 now I want to know how to make return of it
Hi Arvind,
Receipt reversal is usually done when the customer wants to pay thru another means after issuing the cheque.
For an example, the customer wants to transfer money electronically or he wants to pay thru his bank a/c -B; so he requests that the cheque of his a/c - A is returned to him. [However, this can be possible after receipt creation but before cheque deposit in bank (for collection)].
In case if cheque being returned by Bank for insufficient funds, receipt not to be reversed. Instead, Dr Note to be raised with 0 days credit period.
Initial Invoice will remain closed and new Dr Note will be in open status till customer pays.
Because, cheque bouncing is unaccepted and even a crime; so, this cannot be treated equal to normal customer request for cheque return.
Please correct me if my understanding is wrong.
Hi Lakshman, there are various scenarios where you want to reverse. I had just given one example of check dishonor, but there could be many other reasons. My intention of this video is to focus on receipt reversal process and hence i did not stress much on the actual business scenarios of receipt reversal
@@OracleEbizandFusionVideos
You are right that your focus was in receipt reversal functionality in Oracle Receivable.
As few viewers of this video may be less experienced in business, they may conclude that receipt can be reversed even for cheque bouncing which is not the case.
Being the guru, you are expected to be perfect! :-)
Being students, we have the freedom to make mistakes and will be corrected by gurus like you!
:-)
Dear Arvind, nice video. Could you please add video about reversal of remittance (batches),which will be helpful.
Sure... I will add this to my list if topics
Hi, it’s nice video .Is there any video to show reverse receipt after remittance ?
Not yet... I will add this to my list of topics to be covered
Hi, your video is great and clear. May I know is there any way to reverse/undo the "reversed receipt which has been applied to invoice"? Thank you.
Unfortunately, once you reverse a receipt, you cannot undo the same
Dear arvind sir thanks again for uploading another video . I hope after a long gap around one month u have uploaded this video. Dear sir could u make a video on automatic receipt method ? I have gone through all the video u have uploaded in past and these are awesome
Sure. I will add this to my list of topics to be covered
Hi Aravind - Good one.But In case of a consolidated bill, can a receipt be applied (and reversed) at consolidated bill level , account level, site level or only at individual transaction level ?
Hi Sihv, Receipt can be applied at Consolidated transaction or at individual transaction level and also can be reversed at that level
@@OracleEbizandFusionVideos Thanks Aravind.
Is it possible to partially reverse the receipt in case of an error …?
Reversal is for entire receipt... its not possible to do partial reversal...
Daer arvind sir , I asked u a question in ur ppr video that what is the default location the payment file generated ? Could u help me on that regards
$APPLCSF/iby/out
Hi Sir,
Any Tax resverse charge videos of you…
If any could you share
Regards,
Shabeer
Not yet. I will add this topic to my To do list
Dear Arvind, how to fix if we get message "Please account the receipt before updating Customer Details" while doing Reverse or try to update Customer for Unapplied Receipt.
Run the create accounting in Final mode and then try to reverse the receipt... It will work
@@OracleEbizandFusionVideos Thanks a lot. Previously, I tried Draft mode only.
I need to edit line items in credit memo/ debit memo can u please help me ?
Hi, Whats the error you are facing when editing
In grn I've put wrong rate how to rectify plz help me out
Are you referring to entering of wrong exchange rate in GRN (i.e. PO Receipt)?
@@OracleEbizandFusionVideos yes, in goods receipt note i was supposed to enter rs.100.09 but I entered rs 109 now I want to know how to make return of it
Can you try creating Return to Vendor and then Receiving again?
@@OracleEbizandFusionVideos thanks