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What are the Rulesets to reconcile Cash Receipts with Open Receivables transactions?How do we define them?
Hi Alka,
You mentioned “Reconcile” cash receipts. However, if we try and interpret it, we reckon you mean the options to automatically match Cash receipts with Open Receivables transactions. Will respond to your query based that assumption. In case you meant “Reconciliation” with Bank statement using cash management please ask the question again so that we can respond on same.
Oracle Provides with multiple configurable options to automatically match receipts created in AR with the open transactions. There are two types of rules which you can configure to automatically match apply receipts to transaction.
- AutoMatchRule Sets (Can be used for all the receipts)
- AutoCash Rule Sets (Can be used only for lockbox receipts and not manual receipts)
In my response here we will focus on what is the difference between the two options and when can you use it. In terms of how to configure them and what options are available under each one of those we’ll provide Oracle documentation link
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AutoMatchRule Sets |
AutoCash Rule Sets |
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AutoMatch rule sets allows you to either identify customer or a transaction against which receipts should be matched based on the attributes available on the receipts |
AutoCash Rule sets are used to automatically apply receipt to an open receivables’ transaction for a customer. In this scenario transaction reference is not available / required on a receipt |
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Most Common use case: This is used whereby a transaction number is available as reference on a receipt and we want system to automatically match receipt with that transaction number |
Most common use case: This is used when transaction information is not available on receipt created and we want system to apply receipt oldest open transaction based on the payment terms |
How to Configure?
- Configurations tasks are available for these rule sets (Manage AutoCash Rule Sets / Manage AutoMatch Rule Sets)
- Once rule sets are configured, go to receivables systems option task for the BU and attach these rule sets under “Cash Processing” tab in the configuration
Oracle Documentation Link:
How AutoMatch Recommendations Are Calculated (oracle.com)
Examples of Using Each AutoCash Rule (oracle.com)
FAQ - For AutoMatch, AutoApply and AutoCash in Fusion Receivables (Doc ID 1921489.1)
Thanks!
