Credit memo and Debit memo in oracle apps receivables

Credit memo and Debit memo in oracle apps receivables

In this post , we will be discuss about the credit and the debit memo in oracle receivables. Credit and the Debit memo are the type of invoices in oracle receivable which we do create against the customers. Both Credit and the Debit memo have different working or functionality in oracle receivables. Here below I will try to explain the difference between credit memo and the debit memo in oracle apps receivables.

 

 

Working or Functioning of Credit memo and Debit memo in oracle apps receivables

In Receivables (AR) , We do enter the credit memo , if We want to reduce our customer liability for an AR invoice.  For example , We have send one AR invoice for our customer , but after that we realized that , We generated this amount for an wrong amount and now I want to reduce the amount for that invoice so for this , I can create the Credit memo in AR and send this to the customer , so the final Pay amount have to pay by customer is Main Invoice- Credit Memo

 

 

But Debit Memo , we do create in AR Amount , if we want to Increase the Customer Liability for an AR invoice. For example , We have send one AR invoice for our customer , but after that we realized that we forgot to send the tax or freight amount in that invoice and now I want to add that amount for that invoice so for this , I will be create one Debit memo in AR and send this to the customer , so that final Pay amount have to pay by the customer is Main Invoice + Debit Memo.

 

 

 



Credit memo and Debit memo in oracle apps receivables