New Features in Oracle Fusion Receivables || Smart Receipt

Smart Receipt

Smart Receipt

Fusion Receivables continue to support auto lockbox but also enhanced to apply receipt automatically using Smart Receipt. Smart Receipt functionality is extended to the receipt that are created manually or uploaded (excel).

What is Auto Lockbox ?

Auto Lockbox eliminates manual data entry by automatically processing receipts that are sent directly to your bank. You specify how you want this information transmitted and Receivables ensures that the data is valid before creating QuickCash receipt batches. You can automatically identify the customer who remitted the receipt and optionally use AutoCash rules to determine how to apply the receipts to your customer's outstanding debit items.

Excel Based Receipt Entry:

·         Quickly create and updates customer receipt.

·         Increases User ability to process payment.

·         Send spreadsheets to reviewers and approvers.

Efficient Receivables to GL Reconciliation:

·         Quick reconciliation to GL and fast period ending and book closure.

·         Exceptions are automatically defined.

·         Swift investigations at differences in balances with drill downs.

Recurring Billing:

Recurring Billing captures customer bill plan information with recurring billing details and automatically generates recurring transactions at periodic intervals based on the plan. You can modify bill plan attributes for future transactions and review bill plan historical changes. After generating the transactions, you can review them.

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