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.