Transaction Type in Oracle Fusion. Setup of Transaction Type in Oracle

Transaction Type in Oracle Fusion. Setup of Transaction Type in Oracle

Use transaction types to define the accounting for the debit memos, credit memos, on-account credits, chargebacks, commitments, and invoices you create in Receivables. Transaction types also determine whether your transaction entries update your customers' balances and whether Receivables posts these transactions to your general ledger.

 

If Auto Accounting depends on transaction type, Receivables uses the general ledger accounts that you enter here, along with your Auto Accounting rules, to determine the default revenue, receivable, freight, tax, unearned revenue, unbilled receivable, finance charges, and AutoInvoice clearing accounts for transactions you create using this type.

 

We can also associate transaction types with your invoice sources in the Transaction Sources window to speed data entry in the Transaction and Credit Transactions windows.

 

 

Step1:- 
Go to Navigator è Setup and Maintenance

 

 

Step2:- Find the Manage Transaction Type as Below.

Enter a Class for this transaction type. Choose from the following classes: Invoice,Chargeback, Credit Memo, Debit Memo, Deposit, or Guarantee.

If this transaction type's class is not Deposit or Guarantee, indicate whether you want transactions with this type to update your customer balances by checking or unchecking the Open Receivable check box.

To be able to post transactions with this type to your general ledger, check the Post To GL check box. The default is the value you specified for the Open Receivables option. This check box must be checked if the class is Deposit or Guarantee.

Enter the payment Terms to use for transactions with this transaction type.

Choose a Transaction Status of Open, Closed, Pending, or Void. Use these statuses to implement your own invoice approval system. Enter 'Void' to void debit memos, on-account credits or invoices to which you assign this transaction type.

Choose a Creation Sign. The default is Positive Sign for transaction types whose class is either Guarantee or Deposit. If you are using the Cash Basis accounting method, your transaction's creation sign must be either Positive or Negative. You cannot update this field after you enter transactions with this type.

Enter a Name and Description for this transaction type.

 

Transaction Type in Oracle Fusion. Setup of Transaction Type in Oracle