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    Amit Mishra
    What is the equivalent feature of Customer Deposits in...
    Topic posted September 6, 2019 by Amit MishraRed Ribbon: 250+ Points, tagged Collections, Financials, Invoice Imaging, Receivables, Subledger Accounting 
    38 Views, 5 Comments
    Title:
    What is the equivalent feature of Customer Deposits in Fusion ?
    Summary:
    How to create customer deposit document to share with customer?
    Content:

    Hi All,

    We have a requirement to create a deposit transaction for a customer and later to settle the deposit amount against the upcoming invoices for the same customer. I understand that Fusion doesn't have 'Deposit' feature available in the Receivables module and a couple of folks may have just created the receipt (act as a customer deposit) as a workaround, however, how do I create the deposit document in the system which can be printed and shared with the customer to make a payment against?

    Also, how do I take care of accounting as it was available in Oracle EBS which upcoming invoices used to settle against the deposit transactions and creating appropriate accounting accordingly?

    Any pointer will be appreciated.

    Thanks/Amit

     

    Version:
    19C

    Comment

     

    • Pramod Yadav

      Hello Amit-

      Receivables Cloud provides prepayment functionality to capture deposit information for the customer.

      Reference: Oracle Fusion Receivables: Transactions Workbench Issue: Cannot create Deposits/Guarantees (Doc ID 1313616.1)

      However this possibly addresses your accounting requirement only  and not the 'create deposit document and print to share with customer'.

      Regards,

      Pramod

      • Amit Mishra

        Thanks for the link, Pramod. Appreciate your help.

        However, our customer has a specific requirement to create some kind of prepayment invoice in the system. I am thinking of creating the std. invoice and modify the SLA to hit to deposit account. And later, when subsequent invoices come, we may have to create credit memo as well to make their balances zero and of course modify the credit memo SLA rules to reduce the deposit account balances.

        Not sure though the best way forward. Let see If I get more responses.

        Thanks/Amit

         

        • Matthieu Auber

          Hi Amit,

          This is also our customer requirement (to be able to create a prepayment document, to be paid by the customer after) so we are thinking about creating a standard invoice (different transaction type but of invoice class).

          - The advantage is that we can also manage tax calculation on prepayment
          - The inconvenient is that credit memo (created to reduce deposit account balance) should also be sent to customer

          Please check also note "How to Calculate Tax on AR Advance" (Doc ID 2490090.1) that gives some solutions.

          Regards,
          Matt

          • Amit Mishra

            Thanks, Matthieu. In our case, complexity adds us due to being the project-based organization. All our billing originates from project billing. Regards/Amit

            • Matthieu Auber

              You're welcome Amit. You should create an idea on Project Management and what is very important is to not impact billing offset.

              Regards,
              Matthieu