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Oracle Financials Cloud: GL, AP, AR
Config Bootcamp

Activity Guide (Oracle Financials Cloud: Receivables

Implementation)
D106386GC10
April 2019 | D106408

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Table of Contents

Practices for Lesson 1: Oracle Financials Cloud - Receivables Implementation Overview ..... 7
Practices for Lesson 1 .................................................................................................................... 8

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Practices for Lesson 2: Configuring Oracle Fusion Tax .............................................................. 9
Practices for Lesson 2: Overview ................................................................................................... 10
Practice 2-1: Creating a US Sales Tax Configuration for Vertex .................................................... 11
Practice 2-2: Creating a VAT Using the Tax Configuration Workbook ........................................... 14
Practice 2-3: Assigning Your Business Unit to a Tax Regime ........................................................ 20
Practices for Lesson 3: Configuring Oracle Receivables ............................................................ 21
Practices for Lesson 3: Overview ................................................................................................... 23
Practice 3-1: Reviewing Receivables System Options ................................................................... 24
Practice 3-2: Reviewing AutoAccounting Rules.............................................................................. 28
Practice 3-3: Reviewing Remit-to Addresses ................................................................................. 29
Practice 3-4: Reviewing Receivables Activities .............................................................................. 30
Practice 3-5: Reviewing Statement Cycles ..................................................................................... 31
Practices for Lesson 4: Configuring Customer Billing................................................................. 33
Practices for Lesson 4: Overview ................................................................................................... 34
Practice 4-1: Defining a Transaction Type ...................................................................................... 35
Practice 4-2: Defining a Transaction Source .................................................................................. 37
Practices for Lesson 5: Configuring Customer Payments .......................................................... 39
Practices for Lesson 5: Overview ................................................................................................... 40
Practice 5-1: Creating Banks, Branches, and Bank Accounts ........................................................ 41
Practice 5-2: Creating a Receipt Class and Receipt Method ......................................................... 43
Practice 5-3: Creating a Receipt Source ........................................................................................ 46
Practices for Lesson 6: Configuring Revenue for Receivables ................................................... 49
Practices for Lesson 6 .................................................................................................................... 50
Practices for Lesson 7: Configuring Subledger Accounting ....................................................... 51
Practices for Lesson 7: Overview ................................................................................................... 52
Practice 7-1: Creating Three Account Rules .................................................................................. 53
Practice 7-2: Creating a Description Rule ....................................................................................... 57
Practice 7-3: Creating Two Journal Line Rules .............................................................................. 60
Practice 7-4: Creating a Journal Entry Rule Set ............................................................................. 62
Practice 7-5: Duplicating and Modifying an Accounting Method .................................................... 65
Practices for Lesson 8: Customers ................................................................................................ 69
Practices for Lesson 8: Overview ................................................................................................... 70

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Practice 8-1: Defining a Customer Profile Class............................................................................. 71

Practice 8-2: Creating a Customer ................................................................................................. 74
Practices for Lesson 9: Entering Transactions and Payments Overview .................................. 79
Practices for Lesson 9: Overview ................................................................................................... 80
Practice 9-1: Opening General Ledger and Receivables Periods .................................................. 81
Practice 9-2: Creating a Manual Invoice ......................................................................................... 86

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Practice 9-3: Creating a Receipt ..................................................................................................... 89
Practice 9-4: Submitting Create Accounting in Draft ...................................................................... 91
Practice 9-5: Submitting Create Accounting in Final/Post .............................................................. 93

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iv Oracle Financials Cloud: Receivables Implementation – Table of Contents

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Overview
Practices for Lesson 1:
Oracle Financials Cloud -
Receivables Implementation

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Practices for Lesson 1

There are no practices for this lesson.

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Tax
Practices for Lesson 2:
Configuring Oracle Fusion

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Practices for Lesson 2: Overview

Overview
In these practices, you will be:
 Creating a US sales tax configuration for Vertex.
 Creating a VAT Using the tax configuration workbook.
 Assigning your business unit to a tax regime.

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10 Practices for Lesson 2: Configuring Oracle Fusion Tax

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Practice 2-1: Creating a US Sales Tax Configuration for Vertex

Overview
In this practice you will be creating a US tax regime and US tax for Vertex integration. Because
Vertex provides files to upload for tax setups, you are only creating a tax regime and a tax as an
example of some of the setups.

Assumptions

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Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks

Creating a Tax Regime

1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Transaction Tax >
Manage Tax Regimes.
2. Click Create.
3. Enter:

Field Value
Tax Regime Code XXVERTEX US
Tax Regime Name XXVERTEX US
Country United States
Start Date 1/1/01

4. In the Controls and Defaults section, accept all the defaults and select:

Check Box Value

Allow tax rounding override Selected
Allow override and entry of Selected
inclusive tax lines

5. Ensure that the Configuration Options tab is selected.

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6. Enter:

Field Value
Party Name XXBusiness Unit
Party Type Business Unit (defaults)
Country United States (defaults)

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Configuration for Taxes and Common configuration with
Rules party overrides
Configuration for Product Common configuration
Exceptions (defaults)
Effective Date 1/1/01

7. Click on the Service Subscriptions tab.

8. Click Add Row.
9. Enter:

Field Value
Party Name XXBusiness Unit
Party Type Business Unit (defaults)
Country United States (defaults)
Service Provider VERTEX
Business Process Flow Procure-to-pay and order-to-
cash
Effective Date 1/1/01

10. Click Save and Close.

11. Click Done.

Creating a Tax
12. Set Scope for the Manage Taxes task to your XXVERTEX US tax regime.
13. Click Create.

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14. In the Header section, enter:

Field Value
Tax Regime Code XXVERTEX US (defaults)
Configuration Owner XXBusiness Unit
Tax XXVERTEX STATE

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Tax Name XXVERTEX STATE
Start Date 1/1/01 (defaults)

15. In the Tax Information section, enter:

Field Value
Geography Type STATE
Parent Geography Type Country
Parent Geography Name United States

16. Accept all other defaults.

17. Click Save and Close.
Note: Because we do not actually use these setups going forward, you are only setting up
a state tax. In real world implementations for the US, other taxes need to be defined.

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Practices for Lesson 2: Configuring Oracle Fusion Tax 13

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Practice 2-2: Creating a VAT Using the Tax Configuration Workbook

Overview
In this practice, you will be creating a tax configuration for value-added tax (VAT) in the United
Kingdom by using the Tax Configuration Workbook.

Assumptions

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Sign in as your FASXX.Student user, as assigned by the instructor.

Creating Tax Setup Data

1. Navigate to: Others > Setup and Maintenance > Financials > Transaction Tax >
Manage Tax Regimes.

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2. In the Search Results region, click the Rapid Setup Spreadsheets button. Select
Download Tax Configuration Workbook.

3. Click OK to open the spreadsheet by using Microsoft Excel. Oracle University and Pivotal Communications Pvt. Ltd. use only
4. Click Enable Editing.
5. Click Enable Content.
6. Click OK.
7. Right-click the Tax Conf Workbook Instructions worksheet tab.
8. Click Unhide.
9. Select Manage Tax Regimes and click OK.
10. Repeat for Manage Taxes.

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11. Click the Manage Tax Regimes worksheet tab.

Note: The spreadsheet lists existing regimes and associated data. This does not affect the
upload. It uploads only new data.
12. Insert a new row in the middle of all the existing regimes.
13. Enter:

Field Value

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Tax Regime Code XXUK VAT
Country United Kingdom
Start Date 2001/01/01

14. Click the Manage Taxes worksheet tab.

15. Using the next available row (row 34), enter or select:

Field Value
Tax Regime Code XXUK VAT
Tax XXUK VAT
Tax Name XXUK VAT
Tax Geography Type Country
Tax Currency GBP
Rounding Rule Nearest
Recoverable Yes
Recovery Type STANDARD
Default Place of Supply Ship to use bill to if ship to is not found
Default Tax Registration Bill-from party
Start Date 2001/01/01

16. Click the Manage Rates worksheet tab.

Note: You need to create both a default nonjurisdiction-based tax rate and a default
jurisdiction-based tax rate or rates for each type of transaction tax in a given country. The
number of specific default jurisdiction-based tax rates you set up depends on the
transaction tax regulations for that country. The default nonjurisdiction-based tax rate that is
created for each tax is required to enable the tax for either simulation or simulation and
transaction processing.

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17. Enter or select:

Field Value
Tax Regime Code XXUK VAT
Tax XXUK VAT
Note: If the list of values does not contain your Tax, go

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back to the Manage Taxes worksheet, copy the tax,
and paste it here.
Tax Status Code STANDARD
Tax Jurisdiction Code Blank
Tax Jurisdiction Name Blank
Geography Name Blank
Tax Rate Code XXUK VAT DEFAULT
Tax Rate Name XXUK VAT Default
Tax Rate 20
Set As Default Rate Yes
Effective Start Date 2001/01/01

Note: The default nonjurisdiction-based tax rate is applied only in the absence of a valid tax
rate rule or a default jurisdiction-based tax rate. It is a common tax rate that is applied when
there is no specific tax rate defined for the jurisdiction associated with the transaction. The
default nonjurisdiction-based tax rate can prevent potential transaction errors when a tax
place of supply location on a transaction legally stops imposing a tax rate in accordance
with newly enacted laws.
18. On the next row, enter:

Field Value
Tax Regime Code XXUK VAT
Tax XXUK VAT
Note: If the list of values does not contain your Tax, go
back to the Manage Taxes worksheet, copy the tax,
and paste it here.
Tax Status Code STANDARD
Tax Jurisdiction Code XXUK JUR
Tax Jurisdiction Name XXUK JUR

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Practices for Lesson 2: Configuring Oracle Fusion Tax 17

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Field Value
Geography Name United Kingdom
Tax Rate Code XXUK VAT STANDARD
Tax Rate Name XXUK VAT Standard
Tax Rate 20
Set As Default Rate Yes

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Effective Start Date 2001/01/01

Note: The default jurisdiction-based tax rates:

 Ensure that the calculated transaction tax amounts are based on the rates enforced
by the tax authority for a particular jurisdiction
 Allow correct downstream reporting of transaction tax amounts on a periodic basis
to the proper local tax authorities
Without the creation of valid default jurisdiction-based tax rates, filing of tax reports and
returns cannot be completed. The jurisdiction information is required for the calculated
transaction tax amounts to appear on the tax reports and returns for filing with the specific
local tax authorities.
19. Click the Manage Tax Recovery Rates worksheet tab.
20. Complete the fields, as shown in the following table, for the tax recovery rate. For the tax
regime and tax, you may have to scroll up the window to select the value.

Field Value
Tax Regime Code XXUK VAT
Tax XXUK VAT
Note: If the list of values does not contain your Tax,
go back to the Manage Taxes worksheet, copy the
tax, and paste it here.
Tax Recovery Rate XXUK VAT STANDARD REC RATE
Code
Recovery Type STANDARD
Tax Rate 100
Set As Default Rate Yes
Effective Start Date 2001/01/01

21. Click on the Tax Conf Workbook Instructions worksheet tab.

22. Click Generate CSV File.

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23. Save the zip file to your desktop and name it: XXTaxConfigurationWorkbook.
24. Back in the application, on the Manage Tax Regimes page, Click Rapid Setup
Spreadsheets.
25. Select Upload Tax Configuration Workbook.
26. Browse for your file on your Desktop and click Upload.
27. Click OK.
28. Click the Monitor Upload and Download Processes tab.

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29. Click Refresh until the Status is Succeeded.

Viewing Your Created Tax Regime

30. In Manage Tax Regimes, Search for your XXUK VAT Tax Regime Code.
31. Select the XXUK VAT link.

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Practice 2-3: Assigning Your Business Unit to a Tax Regime

Overview
In this practice you will be assigning your business unit to a US tax regime.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Financials Offering > Transaction
Tax > Manage Tax Regimes.
2. In the Tax Regime Code field, enter US.
3. Click Search.
4. Click on the US SALES AND USE TAX link.
5. Click Edit.
6. In the Configuration Options tab, click Add Row.
7. Enter:

Field Value
Party Name XXBusiness Unit
Party Type Business unit owning tax
content (defaults)
Configuration for Taxes and Common configuration
Rules
Configuration for Product Common configuration
Exceptions (defaults)
Effective Start Date 1/1/50

8. Click Save and Close.

9. Click Done.

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Receivables
Configuring Oracle
Practices for Lesson 3:

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Addendum to Oracle Financials Cloud: Receivables Implementation Course

Code: D105425GC10

Practice 3-1: Reviewing Receivables System Options

Currently, in this practice the Manage Receivables System Options task opens to
the Edit Receivables System Options page instead of the Manage Receivables

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System Options page. The scope is already set to US1 Business Unit. You are
unable to change the business unit.

Practice 3-2: Reviewing AutoAccounting Rules

Currently, in this practice you are unable to select your business unit in the
Manage AutoAccounting Rules page.

Skip both practices and proceed to Practice 3-3.

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Practices for Lesson 3: Overview

Overview
In these practices, you will be:
 Reviewing Receivables system options.
 Reviewing AutoAccounting rules.
 Reviewing remit-to addresses.

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 Reviewing Receivables activities.
 Reviewing statement cycles.

Prerequisites
You must complete the previous practices successfully before proceeding with these practices.

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Practice 3-1: Reviewing Receivables System Options

Overview
In this practice, you will be reviewing and setting the required system options to configure the
Receivables environment.
Note: Many settings have been completed during your spreadsheet upload. If the setting is
not set or is different, enter the correct value.

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Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks
1. Navigate to: Others > Setup and Maintenance > Select Financials > Receivables >
Manage Receivables System Options.
2. In the Search field, select your XXBusiness Unit and click Search.
3. Click the XXBusiness Unit link.
4. Click the Billing and Revenue tab if it is not already selected.
5. Verify the following values and change if necessary:

Section Field Value

General
Information
Split Amount 2,500
Days in days Sales 30
Outstanding Calculation
Print remit to address Selected
Print home country Selected
Application Rule Set Line And Tax
Prorate
Discount Basis Invoice Amount
Accounting
Tax Account 01-000-2230-01
Cross Currency 01-400-7990-01
Rounding Account
Realized Gains Account 01-400-4430-01

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Realized losses 01-400-4430-01

Account
Automatic journal import Selected
Days per Posting Cycle 15
Transactions
Tax Invoice Printing Itemize and Sum

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Options
Document Number When completed
Generation Level
Customers
Grouping Rule DEFAULT
AutoInvoice
Purge interface tables Selected
Maximum Memory in 3,145,728
Bytes
Log File Message Level 0

6. Click the Cash Processing tab at the top.

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Practices for Lesson 3: Configuring Oracle Receivables 25

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7. Enter the following values:

Section Field Value

General
Information
AutoCash Rule Set Oldest transaction
first

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Match Receipts By 1 Transaction Number
Chargeback Due Date Open invoice due
date
Accounting
Realized Gains Account 01-400-4430-01
Realized losses 01-400-4430-01
Account
Cross Currency 01-400-7990-01
Rounding Account
Automatic
Receipts
Invoices per Commit 500
Receipts per Commit 500

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9.
8.
Click OK
10. Click Done.
Click Save and Close.

Practices for Lesson 3: Configuring Oracle Receivables

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27
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Practice 3-2: Reviewing AutoAccounting Rules

Overview
In this practice, you will be reviewing the AutoAccounting Rules for your business unit.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Customer Billing >
Manage AutoAccounting Rules.
2. In the Search field, select your XXBusiness Unit and click Search.
3. Click each row to see the Constant Values used in each rule.

Note: You can change the autoaccounting rules if needed.

4. Click Cancel.

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Practice 3-3: Reviewing Remit-to Addresses

Overview
In this practice, you will be reviewing the Remit-to Address for your business unit.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Customer Billing >
Manage Remit to Addresses.
2. Leave the Search field blank and click Search.

3. Click the Site Number link next to your XX102 Main Street address.
4. Click Cancel.
5. Click Done.

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Practice 3-4: Reviewing Receivables Activities

Overview
In this practice, you will be reviewing the Receivables Activities for your business unit.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Receivables >
Manage Receivables Activities.
2. In the Search field, select your XXBusiness Unit and click Search.

3. Click a Name link to view the details.

4. Click Cancel twice.

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Practice 3-5: Reviewing Statement Cycles

Overview
In this practice, you will be reviewing the Receivables Activities for your business unit.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Select Financials > Receivables >
Manage Statement Cycles.
2. In the Interval Search field, select Quarterly and click Search.

3. Click Cancel.

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32
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Practices for Lesson 4:

Configuring Customer Billing

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Practices for Lesson 4: Overview

Overview
In these practices, you will be:
 Defining a transaction type.
 Defining a transaction source.

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Prerequisites
You must complete the previous practices successfully before proceeding with these practices.

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Practice 4-1: Defining a Transaction Type

Overview
In this practice, you will be defining a transaction type for your business unit.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Customer Billing >
Show: All Tasks > Manage Transaction Types.
2. Click the Create icon.
3. Enter the following values in the header section:

Field Value
Transaction Type Set COMMON
Name XXInvoices
Transaction Class Invoice
Transaction Status Open
From Date Six months ago
(Important for
Advanced
Collections)
Creation Sign Positive Sign
Generate Bill Yes
Credit Memo Type Credit Memo
Open Receivable Selected
Allow Freight Select
Post to GL Selected
Natural application only Selected

4. Under Reference Accounts, click Create.

5. In the Business Unit field, select XXBusiness Unit. All the Accounts should show default
values.

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8.
7.
6.

36
Click OK.

Click Done.
Click Save and Close.

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Practice 4-2: Defining a Transaction Source

Overview
In this practice, you will be defining a transaction source for your legal entity.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Customer Billing >
Show: All Tasks > Manage Transaction Sources.
2. Click the Create icon.
3. Enter the following values in the header section:

Field Value
Transaction Source Set Common Set
Legal Entity XXVision America
Name XXManual
Description XXManual
Type Manual
From Date Six months ago
Automatic transaction Selected
numbering
Last Transaction 1000
Number
Standard Transaction XXInvoices
Type

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5.
4.

38
Click Done.
Click Save and Close.

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Payments
Configuring Customer
Practices for Lesson 5:

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Practices for Lesson 5: Overview

Overview
In these practices, you will be:
 Creating a bank, a branch, and an account using a spreadsheet.
 Creating a receipt class and a receipt method.
 Creating a receipt source.

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Prerequisites
You must complete the previous practices successfully before proceeding with these practices.

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Practice 5-1: Creating Banks, Branches, and Bank Accounts

Overview
In this practice, you will be creating a bank, a branch, and bank account.

Assumptions
Sign in as your FASXX.Student user as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Cash Management
and Banking > Manage Banks.
2. Click Create.
3. Enter:

Field Value
Country United States
Bank Name XXBank of America

4. Click Save and Close.

Branch Information
5. Highlight your bank and click View Branches.
6. Click Create.
7. Enter or accept

Field Value
Bank XXBank of America
Branch Name XXMain Branch
Routing Number 061000052

8. Click Save and Close.

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Account Information
9. Click Create Account.

Field Value
Account Name XXDeposit
Account Number XX123456

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Currency USD
Legal Entity XXVision America
Account Type Checking
Cash Account 01-000-1110-01
Cash Clearing Account 01-000-1120-01
Account Use Receivables

10. Select the Business Unit Access tab.

11. Click Create.
12. Select Business Unit: XXBusiness Unit.
13. Click OK.
14. Select Save and Close.
15. Click OK.
16. Click Done twice.

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Practice 5-2: Creating a Receipt Class and Receipt Method

Overview
In this practice, you will be creating a manual receipt class, a check method, and attach your
bank account to the method.

Assumptions

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Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks
1. Navigate to: Others > Setup and Maintenance > Select Financials > Customer
Payments > Manage Receipt Classes and Methods.
2. Select Manual in the Creation Method.
3. Click Search.
4. Click Create.
5. Enter the following details:

Field Value
Name XXManual
Creation Method Manual
Remittance Method No Remittance
Clearance Method By Matching

6. Under Receipt Methods, click Add Row.

7. Enter the following details:

Field Value
Name XXCheck
Printed Name XXCheck (defaults)
Effective Start Date Yesterday

8. On the Remittance Bank Accounts tab, click Create.

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9. Enter the following:

Section Field Value

Remittance Bank Accounts
Business Unit XXBusiness Unit
Bank XXBank of America

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Branch XXMain Branch
Account XXDeposit
Primary Selected
Effective Start Date Yesterday
GL Accounts
Cash 01-000-1110-01 (defaults)
Remittance 01-000-1270-01 (defaults)
Unapplied Receipts 01-000-1310-01 (defaults)
Unidentified Receipts 01-000-1310-01 (defaults)
On-Account Receipts 01-000-1280-01 (defaults)
Unearned Discounts Unearned Discounts
Earned Discounts Earned Discounts

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11. Click Done.

10. Click Save and Close twice.

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45
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Practice 5-3: Creating a Receipt Source

Overview
In this practice, you will be creating a receipt source.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Select Financials > Customer
Payments > Show: All Tasks > Manage Receipt Sources.
2. Click Create.
3. Enter the following details:

Field Value
Business Unit XXBusiness Unit
Name XXReceipt Source
Receipt Source Type Manual
Receipt Class XXManual
Receipt Method XXCheck
Bank Account XXDeposit
Batch Numbering Automatic
Batch Number Starts After 1
Effective Start Date Yesterday

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5.
4.
Click Cancel.
Click Save and Close.

Practices for Lesson 5: Configuring Customer Payments

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47
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48
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Receivables
Practices for Lesson 6:
Configuring Revenue for

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Practices for Lesson 6

There are no practices for this lesson.

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Accounting
Configuring Subledger
Practices for Lesson 7:

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Practices for Lesson 7: Overview

Overview
In these practices, you will be:
 Creating three account rules.
 Creating a description rule.
 Creating two journal line rules.

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 Creating a journal entry rule set.
 Duplicating and modifying an accounting method.
The goal of these practices is create a new Accounting Method for your secondary ledger.
Your company requires the secondary ledger to have more detailed accounting for the
Account Receivable account than the standard accrual method allows. An example of the
accounting that will be on the invoice and ultimately in the primary ledger is as follows. Also
the following is the accounting that your new SL Accrual accounting method will produce
based on the same invoice. The SL Accrual method will put the departments used in the
distribution accounts in the Accounts Receivable account.

Ledger Accounting Method Account Combination DR CR

Primary Standard Accrual 01-000-1210-00 7000.00
01-210-4110-00 2000.00
01-220-4110-00 5000.00

Secondary SL Accrual 01-210-1210-00 2000.00

01-220-1210-00 5000.00
01-210-4110-00 2000.00
01-220-4110-00 5000.00

Prerequisites
You must complete the previous practices successfully before proceeding with these practices.

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Practice 7-1: Creating Three Account Rules

Overview
In this practice, you will be defining three Account rules for the Receivables subledger, for the
secondary ledger to use. Account rules determine the accounts for subledger journal entry lines.
The three account rules will be:
 An account combination rule using a constant for the Accounts Receivable account for

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the credits: 01-000-1210-00
 A segment rule using the department value from the distribution account
 A source rule using the distribution account for the credits

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks

Creating Rules for Your Standard Invoice

1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Receivables > All
Tasks > Manage Account Rules.
2. Click Create.
3. Enter the following:

Field Value
Name XXAR Account Rule
Short Name XXAR_ACCT
Description Using a constant
Chart of Accounts XXLedger
Rule Type Account Combination

4. In the Rules region, click Add Row.

5. Enter the following:

Field Value
Priority 1
Value Type Constant
Value 01-000-1210-01

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Adding a Condition
6. Place your cursor in the Rule 1: Conditions region text box and remove any existing text.
7. Select Source.
8. Search Name: Transaction Type Name
9. Click the Search arrow.
10. Select Receivables: Transaction Type Name

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11. Click OK.
12. Place the cursor after the end quote ”.
13. Select Operator: Equal To (=).
14. Enter XXInvoices.
15. Click Validate.
Note: An Information window appears: Validation is complete. The validation step
validates the condition, not the rule.
16. Click OK.

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17. If the rule status is not active, go to the Actions menu and select Change Status >
Activate.

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18. Click Save and Create Another.

Creating a Second Rule for the Department Segment

19. Enter the following:

Field Value
Name XXDepartment
Short Name XXDEPT
Description Department value for the
receivable account
Chart of Accounts XXLedger
Rule Type Segment
XXDepartment

20. In the Rules region, click Add Row.

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21. Enter the following:

Field Value
Priority 1
Value Type Source
Value Transaction Distribution

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General Ledger Account
Note: If you search, select the
Receivables Application.
Segment XXDepartment

22. Click OK.

23. Click Save and Create Another.

Creating a Third Rule for the Distribution Account

24. Enter the following:

Field Value
Name XXRevenue Account
Short Name XXREV_ACCT
Description Revenue Account
Chart of Accounts XXLedger
Rule Type Account Combination

25. In the Rules region, click Add Row.

Enter the following:

Field Value
Priority 1
Value Type Source
Value Transaction Distribution
General Ledger Account

26. Click Save and Close.

27. Click Done.

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Practice 7-2: Creating a Description Rule

Overview
In this practice, you will be defining a description rule for Receivables invoices.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Receivables > All
Tasks > Manage Description Rules.
2. Click Create.
3. Enter the following:

Field Value
Name XXDescription
Short Name XXDESC
Description Description for Invoices.

4. In the Rules region, click Create.

5. Enter the text Customer:

6. Click the Source button.

7. In the Search drop-down list, select: Name and enter Bill-to Customer Name
8. Click the Search icon.

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9. Select Bill-to Customer Name with Receivables in the Subledger Application column.

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10. Click OK.

11. Enter the text (including the comma): , Customer Number:.

12. Click the Source button.

13. In the Search drop-down list, select Name and enter Bill-to Customer Account Number.
14. Click the Search icon.
15. Select Bill-to Customer Account Number in the Subledger Application column.
16. Click OK.

17. Enter the text (including the comma): , Invoice Number:.

18. Click the Source button.

19. In the Search drop-down list, select Name and enter Transaction Number.
20. Click the search icon.

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21. Select Transaction Number in the Subledger Application: Receivables column.

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22. Click OK.
23. Click Save and Close twice.
24. Click Done.

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Practice 7-3: Creating Two Journal Line Rules

Overview
In this practice, you will be creating two journal line rules: one for the credit and one for the debit
of the journal.

Assumptions

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Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Receivables > All
Tasks > Manage Journal Line Rules.
2. Click Create.
3. Enter the following:

Field Value
Name XXCredit Line
Short Name XXCREDIT
Description Line rule for the credit.
Event Class Invoice
Side Credit
Accounting Class Revenue
Merge Matching Lines No

4. Click Save and Close.

5. Click Create.

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6. Enter the following:

Field Value
Name XXDebit Line
Short Name XXDEBIT
Description Line rule for the debit.

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Event Class Invoice
Side Debit
Accounting Class Receivable
Merge Matching Lines No

7. Click Save and Close.

8. Click Done.

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Practice 7-4: Creating a Journal Entry Rule Set

Overview
In this practice, you will be creating a new Journal Entry Rule Set.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Receivables > All
Tasks > Manage Subledger Journal Entry Rule Sets.
2. Click Create.
3. Enter the following:

Field Value
Name XXJERS
Short Name XXJERS
Description Invoice rule set.
Event Class Invoice
Event Type All
Chart of Accounts XXLedger

Assigning Your Account Combination Rule

4. In the Journal Entry region, select Description Rule: XXDescription.
5. In the Journal Lines region, click Add Row.
6. Enter the following:

Field Value
Line Type Credit
Journal Line Rule XXCredit Line
Account Combination Rule XXRevenue Account

7. In the Journal Lines region, click Add Row.

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8. Enter the following:

Field Value
Line Type Debit
Journal Line Rule XXDebit Line
Account Combination Rule XXAR Account Rule

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Segment Rules: XXDepartment
XXDepartment

9. Click Save and Close.

10. Select the row header for XXJERS.
11. Select Actions > Change Status > Activate.
12. Click Yes.

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64
14. Click Done.
13. Verify that the status of XXJERS is Active.

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Practice 7-5: Duplicating and Modifying an Accounting Method

Overview
In this practice, you will be:
 Duplicating the Standard Accrual method and replace the Receivables invoice journal
entry rules set with your journal entry rule set.
 Attaching your new accounting method to your secondary ledger.

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Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.
Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Receivables > All
Tasks > Manage Accounting Methods.
2. Highlight the Standard Accrual row.
3. Click Actions > Duplicate.
4. Enter the following:

Field Value
Name XXSL Accrual
Short Name XXSL_ACCRUAL
Chart of Accounts XXLedger

5. Click Save and Close.

6. In the Invoice row, enter Effective End Date = Yesterday’s date.
7. Click Save.

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8. In the Journal Entry Rule Set Assignments region, click Add Row.
9. Enter the following:

Field Value
Event Class Invoice
Event Type All

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Rule Set XXJERS
Effective Start Date Today’s date

10. Click Save and Close.

11. Highlight your XXSL Accrual row and click Edit.
12. Click the Activate button.
13. Click Yes.
14. Click OK.
15. Click Save and Close.
16. Click Done.

Attaching Your New Accounting Method to Your Secondary Ledger

17. Navigate to: Others > Setup and Maintenance > Financials Offering > Setup > General
Ledger

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18. If the second Specify Ledger Options is scoped for your XXSecondary ledger, click the
task and move to step 25.
19. If the second Specify Ledger Options task is not already scoped to your XXSecondary
ledger, click the Select… hyperlink in the Scope column.
20. Select the Specify Ledger Options radio button.
21. In the Secondary Ledger field, select and Add.
22. Click Apply and Go to Task.

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23. Select your XXSecondary from the list.
24. Scroll to the bottom and click Save and Close.
25. In the Subledger Accounting area, select XXSL Accrual for the Accounting Method.

26. Click Save and Close.

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68
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Customers
Practices for Lesson 8:

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Practices for Lesson 8: Overview

Overview
In these practices, you will be:
 Defining a customer profile class.
 Creating a customer.

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Prerequisites
You must complete the previous practices successfully before proceeding with these practices.

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Practice 8-1: Defining a Customer Profile Class

Overview
In this practice, you will be defining a customer profile class.

Assumptions
Sign in as the FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Others > Setup and Maintenance > Setup: Financials > Revenue
Management > All Tasks > Manage Receivables Customer Profile Classes.
2. Click Create.
3. Enter Profile Class Name as XXModerate Risk.
4. Enter following information on the Profile Class tab:

Section Field Value

Credit and Collections
Collector Jim Jones
Credit Classification Moderate Risk
Credit Limit 100000
Credit Currency USD- US Dollar
Conversion Rate Type Corporate
Terms
Payment Terms 30 Net
Receipt Matching
Match Receipts By Transaction Number
Invoicing
Grouping Rule DEFAULT

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5. Accept all other defaults.

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6. On the Late Charges tab, click Add Row in the Currency Settings region.
7. Enter the following:

Field Value
Currency USD – US Dollar
Conversion Rate Type Corporate
Minimum Receipt Amount 15.00
Minimum Statement Amount 100
Minimum Dunning Amount 100
Minimum Dunning Invoice 15.00
Amount

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9.
8.
Click Done.
Click Save and Close.

Practices for Lesson 8: Customers

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Practice 8-2: Creating a Customer

Overview
In this practice, you will be creating a customer with a bill-to site.

Assumptions
Sign in as the FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Receivables > Billing > Tasks panel tab > Customers > Create Customer.
2. Enter the following details:

Section Field Value

Organization
Information
Name XXIBM Corporation
Account Information
Account Description XXIBM Corporation
Account Type External
Account Established Six Months Ago
Date (Important for
Advanced Collections)
Account Address
Account Address Set XXREFDATA
From Date Six Months Ago
(Important for
Advanced Collections)
Address
Site Name XXNew York
Address Line 1 XX Main Street
City New York
State NY
Postal Code 10022

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3. Scroll to the bottom of the page, click Add Row in the Address Purposes section, and
select Bill to as Purpose.
4. Change From Date to six months ago.
5. Click Add Row again in the Address Purposes region, select Ship to as Purpose, and
associate your Bill-to Site.
6. Change From Date to six months ago.

7. Click Save and Close.

8. On the Manage Customers page, search for your XXIBM Corporation.
Note: Even if you see your customer’s account, you must do a search. Otherwise, you will
not be able to create a Profile History.
9. Highlight your XXIBM Corporation.

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10. Scroll down to the bottom of the page to the XXIBM Corporation XXXXX: Sites section.

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11. Click Site Number.
12. Scroll down to the bottom of the page to Address Purposes and highlight the Bill to
purpose.
13. In the Reference Accounts section, click Create at the far right.

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14. Select your XXBusiness Unit and accept all the default accounting values.

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15. Click OK.
16. Click Save.
17. Click the Profile History tab.
18. Click Create Site Profile.
19. Select your XXModerate Risk Profile Class.
20. Click Yes for the warning message.

21. Click Save and Close twice.

22. Click Done.

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Payments Overview
Practices for Lesson 9:
Entering Transactions and

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Practices for Lesson 9: Overview

Overview
In these practices, you will be:
 Opening General Ledger and Receivables periods.
 Creating a manual invoice.
 Creating a receipt.

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 Submitting Create Accounting in draft.
 Submitting Create Accounting in Final/Post.

Prerequisites
You must complete the previous practices successfully before proceeding with these practices.

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Practice 9-1: Opening General Ledger and Receivables Periods

Overview
In this practice, you will be:
 Opening the current period for your primary and secondary ledgers.
 Opening the current period for your Receivables Business Unit.

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Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks
1. Navigate to: General Accounting > Period Close.
2. Select XXLedger US and click OK. If you do not get the list menu, click the Change link
next to Data Access Set and select your XXLedger US.

3. Click OK.

Opening the Current Period for Your Primary Ledger

4. Click the General Ledger (Never Opened) link.
5. Click OK.
6. Click Yes.
7. Click OK.
8. Click Done.
9. Navigate to: Others > Scheduled Processes.

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10. Click Refresh until the status is Succeeded on both processes.

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11. Navigate to: General Accounting > Period Close.
12. In the Accounting Period drop-down list, search for Jan-YY (YY = Current Year.)
13. Verify that Jan-YY is Open.

14. Click the General Ledger (Open) link.

Note: You should see three rows representing one open period and two future enterable
periods.
15. Click Actions > Open Target Period.
16. Select the current period and click Open.
17. Click Yes.
18. Click OK.
19. Click Done.
20. Click Refresh until the current period is in the Open status.

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Opening the Current Period for Your Secondary Ledger

21. Click the Change link next to Data Access Set.

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22. From the Data Access Set drop-down list, select your XXSecondary.
23. Click OK.
24. Click the General Ledger (Never Opened) link.
25. Click OK to open the first period.
26. Click Yes.
27. Click OK.
28. Click Refresh until three rows appear.

29. Click Actions > Open Target Period.

30. Select the current period and click Open.

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31. Click Yes.

32. Click OK.
33. Click Done.
34. Click Refresh until the current period is in the Open status.

Opening Your Receivables to the Current Period

35. Click the Change link next to Data Access Set.

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36. From the Data Access Set drop-down list, select your XXLedger US.
37. Click OK.
38. Click the Receivables (Never Opened) link.
39. From the First Period drop-down list, select Jan-YY.

40. Click OK.

41. Click Yes.
42. Click OK.
43. Click Done.
44. On the Period Close Overview page, select Jan-YY for the Accounting Period field to
verify that Receivables is Open.

45. Click the Receivables (Open) link.

46. Click Actions > Open Target Period.

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47. Select the current period and click Open.

48. Click Yes.
49. Click OK.
50. Click Done.
51. Click Refresh until the current period is in the Open status.

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Practice 9-2: Creating a Manual Invoice

Overview
In this practice, you will be creating a manual invoice and distribute the revenue across two
sales departments.

Assumptions

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Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks
1. Navigate to: Receivables > Billing > Tasks panel tab > Transactions > Create
Transaction.
2. Enter the following:

Field Value
Transaction Class Invoice
Business Unit XXBusiness Unit
Transaction Source XXManual
Transaction Type XXInvoice
Bill-to Name XXIBM Corporation
Transaction Date Yesterday
Accounting Date Yesterday
Payment Terms 30 Net

Note: If you get an error message, click OK. It will not prevent you from continuing.

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3. In the Invoice Lines section, enter the following:

Line Number Field Value

1
Description Hardware
UOM Ea

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Quantity 2
Unit Price 1000.00
2
Description ERP Software
UOM Ea
Quantity 1
Unit Price 5000.00

4. Click Save.

Distributing the Revenue Across Two Departments

5. Click Actions > Edit Distributions.
6. Click Yes.
7. For Line 1 Revenue, change the department to 210.

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8. For Line 2 Revenue, change the department to 220.

Note: The tax lines were calculated based on your tax setups.

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9. Click Save and Close.
10. Click the Tax amount link.

11. Click Save and Close.

12. Click the Complete and Create Another drop-down menu and select Complete and
Close.
13. Click OK.

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Practice 9-3: Creating a Receipt

Overview
In this practice, you will be creating a receipt for your customer.

Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

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Tasks
1. Navigate to: Receivables > Accounts Receivables > Tasks panel tab > Receipts >
Create Receipt.
2. Enter the following:

Section Field Value

Business Unit XXBusiness Unit
Receipt Method XXCheck
Receipt Number 500
Header Information Entered Amount 7280.00
Receipt Date Yesterday
Accounting Date Yesterday
Maturity Date Yesterday
Name (Defaults) XXBank of America
Branch (Defaults) XXMain Branch
Remittance Bank
Account (Defaults) XXDeposit
Deposit Date Yesterday
Customer Name XXIBM Corporation
Site (Use LOV) XXXXX

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3. Click the Submit and Create Another drop-down menu and select Submit and Apply
Manually.
4. Click OK.
5. On the Receipt Details and the Application tab, click Add Open Receivables.
6. Search on the Transaction Customer Name XXIBM Corporation.
Hint: Use the LOV in the field. If you do not, it may not return an invoice.
7. Select your Invoice and click Add.
8. Click Done.

9. Click Save and Close.

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Practice 9-4: Submitting Create Accounting in Draft

Overview
In this practice, you will be:
 Submitting the Create Accounting process in draft mode.
 Viewing the results.
 Reviewing the subledger journal entry.

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Assumptions
Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks

Submitting the Create Accounting Process in Draft

1. Navigate to: Receivables > Billing > Tasks panel tab > Transactions > Manage
Transactions.
2. Search by using XXManual in the Transaction Source field.
3. Click the Transaction Number link.
4. Click Actions > Account in Draft.

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5. Click View Accounting.

6. Change Ledger to XXSecondary.

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Note: Receivable Accounts have the same department values as Revenue Accounts.
7. Click Done.
8. Click Cancel.
9. Click Yes.
10. Click Done.

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Practice 9-5: Submitting Create Accounting in Final/Post

Overview
In this practice, you will be submitting Create Accounting in Final/Post and reviewing the
subledger journal entry from General Ledger.

Assumptions

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Sign in as your FASXX.Student user, as assigned by the instructor.

Tasks

Submitting the Create Accounting Process in Draft

1. Navigate to: Receivables > Billing > Tasks panel tab > Accounting > Create
Accounting.
2. Enter or accept the following:

Field Value
Print Format Detail
Ledger XXLedger US
Process Category Transactions
End Date Today
Create Accounting Yes
Accounting Mode Final
Process Errors Only No
Accounting Report Level Detail
Transfer to General Ledger Yes
Post in General Ledger Yes
General Ledger Batch Name XXReceivables
Include User Transaction No
Identifiers

3. Click Submit.
4. Click OK.

Viewing the Results

5. Navigate to: Tools > Scheduled Processes.

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6. Click Refresh until Create Accounting Execution Report, Status: Succeeded is

displayed.

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7. Select the row header for the Search Results: Name: Create Accounting Execution
Report: status row.
8. The Create Accounting Execution Report, #####: Details region appears below.
9. Scroll to the bottom of the page and click the Output Name: Default Document link.
10. A PDF report appears. Click the Download icon and Open.
Note: The secondary ledger has represented the accounting differently than the primary
ledger. The secondary ledger’s liability department is the same as that of distribution
accounts.

Viewing the Journal in Your Primary Ledger

11. Navigate to: General Accounting > Journals > Tasks panel tab > Journals > Manage
Journals.
12. Enter Journal Batch: Starts with: XX.
13. Click Search.

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14. Click the Journal Batch name link.

15. Click the Debit amount link.
16. Click View Journal Entry.
Note: You are now back in Subledger Accounting not General Ledger.

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17. Click Done twice.
18. Click Cancel.

Viewing the Journal in Your Secondary Ledger

19. Change your Data Access Set to XXSecondary.
20. Enter Journal Batch: Starts with: XX.
21. Click Search.
22. Click the Journal Batch name link.
23. Click the Debit amount link.
24. Click View Journal Entry.
Note: You are now back in Subledger Accounting not General Ledger.
25. Click Done twice.
26. Click Cancel.
27. Click Done.

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