Refund Functionality in R12

Refund Functionality in R12

In R12 Payments functionality has been separated at a loss into a separate Application, so that the functionality previously in Accounts Payable (now called Funds Disbursement) and functionality beforehand in Accounts receivable (now called Funds Capture) is in individual. Application (which also includes all functionality before in the iPayment Application) One of the advantages of this is that Oracle be in possession of been able to introduce netting if it be not that also that Refunds are now else easily handled in<a rel="nofollow" onclick="javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link/5835285']);" href="http://evosys.co.in/r12">Oracle R12 upgrade</a>.

Customer Refunds

In 11i to process a customer refund, the following was indispensable if a customer returned goods and wanted a repay:

1) Enter a credit memo (to solve revenue and create amount owing to customer).

2) Enter a debit memo (to assign the amount owed to the patron to a clearing

3) Create the Customer for example a supplier (to allow a remuneration to be made to

4) In Payables, put before the court an invoice to the customer / supplier, using the clearing reference to grounds (from

step 2) as the the invoice