Dear Arvind... Great Job. Please can you share video on how to record rental lease transactions under IFRS16 rule in oracle? Will be a great help. THANK YOU
Hi Arvind..after recognizing the revenue for fixed in advance invoices ..the balances will get tranffered in there respective mo ths only right...for example May month balance will get posted in gl in may month like wise jun, jul, aug and september recocgnized revenue will get tranfdered to the same month...
Hi Arvind, Thank you very much for such a very useful video. Actually, I have a scenario in which Transaction has applied the Accounting rule as a 24months fixed schedule, and the system created Un-earned revenue distributions which is ok. but that company (OU) is closed and has no intention to recognize revenue in future periods when the period is open and run Create accounting. The question is "how we can remove/delete/clear unearned distributions or what other best solution would you suggest" to handle the case.
Nice video Arvind, For the arrear transaction where entries impact more than 1 accounting period . Do we need to open all the accounting period where the accounting is impacted.
Nice video Arvind! One doubt.. In variable accounting rule example, you only defined that 1st month revenue recognition will be 50%, how system understood that for next 2 months its 50% of remaining? Have you also defined 25% for 2nd and 3rd month in that accounting rule? But that was not added in video?
Thanks for the video. I have a question. If a company have reimbursable claim from its customer on account of expenses made(additional air freight for buying materials which will be paid later by customer) on behalf of customer, how to make provision for that amount?
@@OracleEbizandFusionVideos but how will I adjust that debit memo from AR receipt? Suppose you have $1,000 debit memo but that amount will be realized through AR invoice.
@@OracleEbizandFusionVideos thank. Plz give a solution for below transaction: PJ co have a claim of $5000 regarding air freight incurred for fabric import. This amount will be reimbursed by customer in future order. So how Will PJ account for the claim? 2nd, in futute how to segregate the $5000 (adjut debit memo)from AR invoice? How to match with PO? 3rd, how to segregate the excess cost of future order as future invoice will include past claim amount of$5000 result in higher cost of future order?
@@yasirarafat797 One option which i can think of:- 1. When this air freight paid, create a AP invoice with charge account to hit a clearing account. So, accounting here should be:- Clearing Account Dr 5000 Liaibility Account Cr 5000 When AP Payment is made:- AP Liaibility A/c Dr 5000 Bank A/c Cr 5000 When AR Invoice or Debit memo is raised:- Receivable A/c Dr 5000 Clearing A/c Cr 5000 When AR Receipt is created (i.e. when its reimbursed by Customer) Bank A/c Dr 5000 Receivables A/c Cr 5000
Thanks sir for such a great tutorial in very easy and simplest way.. But i have one question when will we go to open the another period then next month will we have to run the revenue recognization or create accounting program again or transaction accounting entries will get automatically changed once the period is open?
Nice video, Arvind!! Can you do a video on Fixed Assets showing Retirements & Reinstate. Also, could you explain Revaluation Reserve concept in Fixed Assets?
Hi, Based on your request, i had created video on FA Retirement and Reinstatement. Please find below the link for the same:- ua-cam.com/video/WIHY5QUgSeY/v-deo.html
Oracle E-Business Suite Functional R12 Thanks Arvind.. Do you have an FB account, where I can talk to you directly.. I have some queries and feel you can help me with the same..
Hi Mahesh, i had already uploaded all my EBS R12 Financials training videos on my channel.. You can access them free of cost.. Please see below the link for the same:- ua-cam.com/play/PLbKu5Q6CEldqxvnZ1jtEuv2ALORYCNZ63.html
Hi Mahesh, i am planning to start a new Oracle Fusion Financials Functional training. If you are interested, then, go through the below video:- ua-cam.com/video/7RYCzhcuT_s/v-deo.html
Hi Arvind...Thanks for sharing such a nice sessions and with smart explanation. Can you please do a session for Testing Life Cycle E2E checklist explanation.
More or less this video explains how the revenue is deferred and how its moved from deferred and revenue is recognized... Let me know if you have any specific question regarding deferred revenue
You can get this error for the following reasons:- 1. Auto Accounting is not able to derive the account based on your existing Auto accounting rules 2. The account code combination derived by Auto accounting is either disabled or End dated or there are cross validation rules or security rules for that account 3. Any segment values of the account code combination are either Inactive or End dated
Hi Arvind... Thanks for sharing such a nice tutorial, I am facing below issue when I am executing Revenue Recognition Program, if you can help me will be appreciable .. REP-0004: Warning: Unable to open user preference file. MSG-01000: DEBUG: BeforeReport_Procs.Get_Flex_Account. MSG-01000: DEBUG: BeforeReport_Procs.Setup_Who_Data.
Take a example we sold a product to the customer and also service warranty for the product.... Service warranty is for say 3 months of say 300 dollars.... You need to recognize revenue of only 100 dollars per month even though we have billed and customer paid total 300 dollars on day 1...So, revenue will be recognized over a period of 3 months in this example...
Super Arvind... very smart explanation.
Thanks Madhu
Thanks Arvind for a knowledgeable video.
Welcome!
Hi aravind thanks for sharing such a nice explanation
Thanks for your feedback
excellent explanation and all doubts clear
Glad to hear that
Superb and very useful session, thanks!
Thanks for your feedback
Dear Arvind... Great Job. Please can you share video on how to record rental lease transactions under IFRS16 rule in oracle? Will be a great help. THANK YOU
Sure.. Will Try
Hi Arvind..after recognizing the revenue for fixed in advance invoices ..the balances will get tranffered in there respective mo ths only right...for example May month balance will get posted in gl in may month like wise jun, jul, aug and september recocgnized revenue will get tranfdered to the same month...
Yes, thats right
Hi Arvind, Please share me link for Iprocurment video. Where we can find all videos of you in sequence.
No.. I did not create any videos yet on I Procurement
What a nice tutorial👌👌👌
Thanks a lot for your feedback
Hi Arvind, Thank you very much for such a very useful video. Actually, I have a scenario in which Transaction has applied the Accounting rule as a 24months fixed schedule, and the system created Un-earned revenue distributions which is ok. but that company (OU) is closed and has no intention to recognize revenue in future periods when the period is open and run Create accounting.
The question is "how we can remove/delete/clear unearned distributions or what other best solution would you suggest" to handle the case.
Hi Arvind
Do we have to run revenue recognizition program every month till the end of Revenue recognizition?
Yes, Revenue recognition program needs to be run periodically
Nice video Arvind, For the arrear transaction where entries impact more than 1 accounting period . Do we need to open all the accounting period where the accounting is impacted.
Hi Danish, its not necessary to open future accounting periods. These entries gets accounted when the concerned periods are opened
Good Video, can I suggest you yo make a video on Revenue Management in Oracle.
Sure, i will try to add this to my list of topics
Hello Arvind, could you please make a video on RMA process..
Sure
Very well explained! Revnue management in Fusion please
Sure... Stay tuned to my channel
Nice video Arvind!
One doubt.. In variable accounting rule example, you only defined that 1st month revenue recognition will be 50%, how system understood that for next 2 months its 50% of remaining? Have you also defined 25% for 2nd and 3rd month in that accounting rule? But that was not added in video?
Thanks for the video. I have a question. If a company have reimbursable claim from its customer on account of expenses made(additional air freight for buying materials which will be paid later by customer) on behalf of customer, how to make provision for that amount?
If its an additional amount to be reimbursed by customer, then you need to raise a debit memo for that amount
@@OracleEbizandFusionVideos but how will I adjust that debit memo from AR receipt? Suppose you have $1,000 debit memo but that amount will be realized through AR invoice.
Yasir Arafat You can apply Debit memo to AR Receipt similar to that of Invoice
@@OracleEbizandFusionVideos thank. Plz give a solution for below transaction:
PJ co have a claim of $5000 regarding air freight incurred for fabric import. This amount will be reimbursed by customer in future order. So how Will PJ account for the claim?
2nd, in futute how to segregate the $5000 (adjut debit memo)from AR invoice? How to match with PO?
3rd, how to segregate the excess cost of future order as future invoice will include past claim amount of$5000 result in higher cost of future order?
@@yasirarafat797 One option which i can think of:-
1. When this air freight paid, create a AP invoice with charge account to hit a clearing account. So, accounting here should be:-
Clearing Account Dr 5000
Liaibility Account Cr 5000
When AP Payment is made:-
AP Liaibility A/c Dr 5000
Bank A/c Cr 5000
When AR Invoice or Debit memo is raised:-
Receivable A/c Dr 5000
Clearing A/c Cr 5000
When AR Receipt is created (i.e. when its reimbursed by Customer)
Bank A/c Dr 5000
Receivables A/c Cr 5000
Thanks sir for such a great tutorial in very easy and simplest way..
But i have one question when will we go to open the another period then next month will we have to run the revenue recognization or create accounting program again or transaction accounting entries will get automatically changed once the period is open?
Accounting entries does not get created automatically. You need to run Revenue recognition and Create accounting programs
Nice video, Arvind!! Can you do a video on Fixed Assets showing Retirements & Reinstate. Also, could you explain Revaluation Reserve concept in Fixed Assets?
Sure... Please stay tuned to my channel and i will try to create my next video on FA Retirement and Reinstatement
Hi, Based on your request, i had created video on FA Retirement and Reinstatement. Please find below the link for the same:-
ua-cam.com/video/WIHY5QUgSeY/v-deo.html
Oracle E-Business Suite Functional R12 Thanks Arvind.. Do you have an FB account, where I can talk to you directly.. I have some queries and feel you can help me with the same..
My FB Page:- facebook.com/CAArvindVaraganti/
Sir, please make a video on receipt remittance process.
Okay sure
Hello Arivind
Please let me know you will conduct Oracle Financial R12 Online training for me. So that we connect and discuss about it.
Hi Mahesh, i had already uploaded all my EBS R12 Financials training videos on my channel.. You can access them free of cost.. Please see below the link for the same:-
ua-cam.com/play/PLbKu5Q6CEldqxvnZ1jtEuv2ALORYCNZ63.html
Hi Mahesh, i am planning to start a new Oracle Fusion Financials Functional training. If you are interested, then, go through the below video:-
ua-cam.com/video/7RYCzhcuT_s/v-deo.html
@@OracleEbizandFusionVideos Thanks for keeping me informed
Hi Arvind...Thanks for sharing such a nice sessions and with smart explanation.
Can you please do a session for Testing Life Cycle E2E checklist explanation.
Are you referring to testing life cycle in an implementation project?
@@OracleEbizandFusionVideos Yes Arvind 😊
Hi Arvin, if possible can you create a video on RMCS?
Sure... i will try that in future
Hi Aravind - Thanks . Can u pl add a video on Balance Forward Billing in AR ?
Sure
how can i extract an ageing report for unbilled AR?
Did you try running standard AR Aging report and check if these unbilled receiviables is appearing?
Hi Arvind, nice video. Can you please also create a video on how to create reocurring invoices in AR?
Recurring invoices in AP or AR?
Hi Soni,
Based on your request, i had created video on AR Recurring invoices. Please see below the link:-
ua-cam.com/video/M3K-h_I3IRc/v-deo.html
Hi Sir,
Can you please create one video to show which are tables we will use in AR?
Sure
Can you explain about deferred revenue concept in R12?
More or less this video explains how the revenue is deferred and how its moved from deferred and revenue is recognized... Let me know if you have any specific question regarding deferred revenue
Hi Sir, Can you please create video on AR Dunning letters and Statement cycle. Thanks.
Sure
Hi Aravind. Kindly Assist on this Error: APP-AR-42536: This transaction is associated with at least one invalid or end-dated GL account
You can get this error for the following reasons:-
1. Auto Accounting is not able to derive the account based on your existing Auto accounting rules
2. The account code combination derived by Auto accounting is either disabled or End dated or there are cross validation rules or security rules for that account
3. Any segment values of the account code combination are either Inactive or End dated
Hi Arvind... Thanks for sharing such a nice tutorial, I am facing below issue when I am executing Revenue Recognition Program, if you can help me will be appreciable ..
REP-0004: Warning: Unable to open user preference file.
MSG-01000: DEBUG: BeforeReport_Procs.Get_Flex_Account.
MSG-01000: DEBUG: BeforeReport_Procs.Setup_Who_Data.
Try the solution as mentioned in Oracle Support Note id:- 1115523.1
Can you give me one real-time example why do we need revenue recognition both in advance and in arrier?
Take a example we sold a product to the customer and also service warranty for the product.... Service warranty is for say 3 months of say 300 dollars.... You need to recognize revenue of only 100 dollars per month even though we have billed and customer paid total 300 dollars on day 1...So, revenue will be recognized over a period of 3 months in this example...