You can update the account sets to the new cost center account for all of the revenue distributions still to be created. For example, you have an invoice with revenue that you want to recognize over a twelve month period, and the cost center of one of the accounts changes during the twelve months. You can change account sets from period to period to meet your business requirements. These account sets enable you to split revenue for a line over one or more revenue or offset accounts. If you import invoices into a cash basis accounting system, lines with associated invoicing and accounting rules will be rejected by AutoInvoice.Īccount sets are templates used to create revenue and offset accounting distributions for individual invoice lines with accounting rules. Invoices with rules are therefore not applicable for this method of accounting, as they are designed to distribute revenue over several periods before receipt of payment. Attention: With Cash Basis Accounting, you only recognize revenue when payment is received.
Bill In Arrears: Use this rule if you want to record the receivable at the end of the revenue recognition schedule (see Figure 1 - 20 below).Bill In Advance: Use this rule to recognize your receivable immediately (see Figure 1 - 19 below).Receivables provides the following invoicing rules: You can only assign one invoicing rule to an invoice. Use invoicing rules to determine when to recognize your receivable for invoices that span more than one accounting period. Accouning rules of Variable Duration let you define the number of periods during invoice entry. Accounting rules of Fixed Duration span a predefined number of periods. You can also specify whether the accounting rules are of Fixed or Variable Duration. Accounting rules let you specify the number of periods and the percentage of the total revenue to recognize in each period. You can assign a different accounting rule to each invoice line. Use accounting rules to determine revenue recognition schedules for your invoice lines. You can assign invoicing and accounting rules to transactions that you import into Receivables using AutoInvoice and to invoices that you create manually in the Transactions window. Invoicing rules determine the accounting period in which the receivable amount is recorded. Accounting rules determine the accounting period or periods in which the revenue distributions for an invoice line are recorded. Invoicing and accounting rules let you create invoices that span several accounting periods. Invoices with Rules (Oracle Receivables Help)
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