Devendrakumar Rajendran - A Blog to Oracle Financials World

Steps a. Download SQL developer 17.3 zip file from oracle portal b. Open SQL Developer 17.3 c. In the left pane, you can see database schema cloud connection node, right click and add new cloud connections d. Enter connection name - user defined - like client name||instance name e. Enter database schema service URL along with credentials f. Enter SFTP user name, password, and hostname as provided by oracle g. Test  and save connections e. You can see new DB cloud connections added to the node, expand node to view cloud database objects.

Receivables lets you give discounts to your customers when they pay for their debit items before a certain date. Discounts are determined by the payment terms you assign to your customers. You can also choose whether to allow discounts for partial payments and specify how you want Receivables to calculate the discount on your invoices. Types of discounts Earned and Unearned Discounts Receivables lets you determine whether your customers can take earned and unearned discounts. An earned discount is a discount you give to a customer who pays on or before the discount date or within the discount grace period. For example, a customer may earn a 2% discount off the original invoice if payment is received within 10 days. The earned discount period is determined by the invoice date, apply date of the receipt, and any discount grace days. Receivables also lets you choose whether to allow unearned discounts. Unearned discounts are discounts that you allow after the earned disc

Normally, customers will tend to request business organization to close current invoice pending balances and carry forward remaining balances in new invoices. Example: You have raised an invoice of 10,000 AED - Invoice number - INV-1001 Customer pays against invoice INV-1001 - 9500 AED You create a receipt on receivables for 9500 AED Balance of original invoice INV-1001 will be 500 AED Now customer requests to close INV-1001 invoice which you had raised and request to carry forward in the new invoice. You can inquire the pay receipt for 9500 AED where you can create chargeback using application window Create a new charge back of 500 AED Check the balance due of INV-1001 - now balance brought down to zero This will internally create a new transaction of chargeback class in receivables of 500 AED In the next payment, you can apply chargebacks which you have created. Thus, bringing down chargeback balance due to zero Chargebacks can be of positive o

Basic Business Need Business organization requires to assess customer credit worthiness to ensure payments are done correctly by customers for their purchases If customers are not paying their dues properly for their purchase items, its business team responsibility to follow up with customers and collect due amount Moreover business requires to assess and classify risk rating of their customers. Solution Customer credit snapshot report in accounts receivables Brief we can use this report to see an overview of customer's credit history. This report provides customer aging, credit history, and brief look of last transaction recorded for this customer This report provides following, a. adjusted balances = outstanding dues -unapplied or on-account receipts b. on account cash c. unapplied receipts total d. outstanding due amount Aging buckets - prints total pending due amounts and percent constitutes under each buckets History section This section displays h

Upgrading Oracle E-Business Suite (EBS) to 12.2 meant the introduction of numerous changes steered towards modern user experience, functionality advancements, streamlined installation, operational efficiency, and increased performance. New Features a. Better UI - New look and feel, widgets, detach table, work with wider width, icon based navigation b. Online patching - reduced patching downtime, apply production patches when fully operational c. Web logic server - Replacement for OC4J application server, create hybrid applications using OAF-ADF d. APPS password change routine - AFPASSWD utility introduced replacing FNDCPASS. New utility separates duties of database and application administrator. Benefits a. Streamlined installation process - Upgrade in RAC environments, use native installation tools oracle fusion middleware with oracle database technology stack b. Reduced patch downtime c. Microsoft office 32 and 64 bit versions are supported for oracle web

VAT - Value added tax : it is also known as goods and services tax in some countries. VAT is a consumption based tax imposed on the product at each stage of production before the final sale. For instance, Bullet manufacturer: the company is taxed on all the supplies it purchased to make and produce the bullet before selling it with customer Then customer pays the VAT for the company incurs the cost during production process VAT is not usually an additional price to the sale price. It is a percentage calculated on retail sale price of a product What items will be taxed? Non essential commodities are taxed. That mean basic food items, medicine, and school fees are non-taxable. More than hundreds of items and categories are non-taxable. Say. if you going to buy a electronic product cost of 1000 AED then 50 AED would be charged as a VAT to customer Business organization has to register for VAT with tax authorities three months before the launch date Who will be taxed?

Banks will credit interest to account holders every quarterly/half-yearly/annually against all current, savings accounts based on calculation by average of closing balances maintained for that period Say: Account balance for jan'17 period all the 30 days = 10,000 USD     Balance maintained by account holder for feb'17 period all 28 days = 15,000 USD   Balance maintained by account holder for mar'17 period 15 days = 16,000 USD  Balance maintained by account holder for mar'17 period 16 days = 20,000 USD Assume bank offers 4% per annum based on average daily balances maintained in holders account, calculation = Daily balances maintained in holders account / number of days Avg balance as per above data figures 14,222.22  USD. Apply interest rate @ 4% PA = 568.88 USD Business organizations has to update interest amount credited by banks under their respective accounts in oracle system. How this can be achieved? Yes there are options where we