Receivables Activities Configuration (Required)

  • Define Receivables Activities: Set up activities like adjustments, miscellaneous cash, and others. Link these activities to the appropriate general ledger accounts.

Approval Limits Configuration (Required)

  • Define Approval Hierarchies: Set up approval hierarchies to determine who can approve transactions and up to what amounts.

Resources Configuration (Required)

  • Register Resources: Add individuals or groups responsible for various tasks, such as collections or customer relations.

Resource Roles Configuration (Required)

  • Assign Roles to Resources: Determine which roles (like collector, account manager, etc.) are assigned to which resources.

Statement Cycles Configuration (Required)

  • Define Statement Cycles: Set up regular intervals at which customer statements are generated and sent.

Receivables System Options Configuration (Required)

  • Configure System Parameters: Set global options that determine the default behavior of the Accounts Receivable system.

Enterprise Structures Configuration (Required)

  • Define Geographies, Legal Entities, and Business Units: Set up the structural foundation of your organization in the system.

Party Tax Profile Configuration (Required)

  • Establish Tax Regimes and Rates: Identify tax jurisdictions and set up associated rates and rules.

Customer Configuration (Required)

  • Profile Customers: Create customer profiles, accounts, and contacts with their relevant details.

Transaction Types Configuration (Required)

  • Define Transaction Types and Sources: Specify the nature and origin of receivable transactions.

Payment Terms Configuration (Required)

  • Set Up Payment Terms: Establish when payments are due and if there are benefits for early payments.

AutoAccounting Configuration (Required)

  • Configure AutoAccounting Rules: Set rules for automatic posting of Receivables transactions to the General Ledger.

Receipt Classes and Methods Configuration (Required)

  • Define Receipt Classes and Methods: Specify how payments are received and processed.

Remittance Banks Configuration (Required)

  • Set up Bank and Remittance Details: Define where payments will be deposited and how they are linked to the business units.

Revenue Contingencies Configuration (Optional)

  • Establish Revenue Contingencies: Determine conditions that might delay or modify revenue recognition.

Late Charges Configuration (Optional)

  • Define Late Charge Policies: Set rules for levying charges on overdue amounts.

Collections Configuration (Optional)

  • Configure Collection Preferences and Dunning Plans: Establish how to handle and remind customers of overdue amounts.

Accounting Periods Configuration (Required)

  • Manage Accounting Periods: Determine the accounting periods open for transactions.

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