Receivables Approval Limits in Oracle Fusion for Adjustments

Receivables Approval Limits in Oracle Fusion for Adjustments

You Cannot create an adjustment that is outside of your approval limits, Receivables creates a pending adjustment with a status of Pending Approval. Pending adjustments amount done not update the balance of the transaction until it is not approved.

You can approve a pending adjustment only if the adjustment amount is within your approval limits. However, you can review adjustment histories, record your comments, and create all other actions (such as assign a status of More Research or Rejected), even if the adjustment is outside your approval limits.

You can write off unapplied cash receipt balances. Receipt write off functionality is Provided to account for small overpayments that you do not intend to refund or maintain as unapplied amounts or On account balance.

With this function you can choose to write off an unapplied cash receipt amount within certain limits to a specific general ledger account. The write off amount is credited to this account such as miscellaneous revenue account, and no longer reflected as an unapplied amount on the receipt or on the customer account.

Step1:-

Go to Navigator è Setup and Maintenance

Step2:- Find the Manage Approval Limits in Search Window.

 

Step3:-  We can find the Existing Approval Limits under this below Page.

 

Click on the + icon to create new Approval Limits for Users.

 

 

Step4:- We can create approval Limits for these below AR Transactions (Adjustment , Receipt write Off).

 

Step5:- We can create Approval Limits for the application users like below.

 

Receivables Approval Limits in Oracle Fusion for Adjustments