Create a batch of QuickCash receipts when you need to enter and apply receipts quickly. The QuickCash window requires only minimal information for each receipt and application. QuickCash also provides an extra level of control for entering high volume receipts because it does not immediately affect your customer's account balance.
When you enter receipts and applications in a QuickCash batch or import them using AutoLockbox, Receivables stores the data in an interim table. You can then use the QuickCash window to review receipts and ensure that application information is correct.
Note: If a receipt that you imported contains invalid matching numbers and you selected the Lockbox option Post Partial Amount as Unapplied, then AutoLockbox imports the receipt with an unapplied amount into QuickCash. For your convenience, Receivables retains the invalid matching numbers in the Application Notes field in the QuickCash window. To view the Application Notes field, choose Show Field from the Folder menu.
You must batch QuickCash receipts. Receivables does not update the status, applied, on account, unapplied, and unidentified fields for your QuickCash batch until you save your work.
Attention: You cannot add miscellaneous receipts to a QuickCash batch.
QuickCash lets you apply your receipts to one or many transactions, use AutoCash rules, place receipts on-account, or enter them as unidentified or unapplied. You can also apply receipts to transactions in different currencies.
You can also apply a QuickCash receipt against other open receipts. See: Applying a QuickCash Receipt to Multiple Transactions.
In addition, you can use the QuickCash window to:
Review any automatic claims that AutoLockbox created for imported receipts (invoice-related claims)
Create manual claims for both overpayments, short payments, and unapplied receipts (noninvoice-related claims)
After reviewing a QuickCash batch for accuracy, run Post QuickCash to update your customer's account balances.
After you run Post QuickCash, Receivables treats QuickCash receipts like any other receipts; you can reverse and reapply them and apply any unapplied, unidentified, or on-account amounts.
Note: If you do not identify the customer for a receipt, Receivables automatically assigns the receipt a status of Unidentified.
The profile option AR: Create Bank Charges determines whether Receivables will consider bank charges and tolerance limits when applying receipts. When this profile option is set to Yes, both the Bank Charges and Tolerance Limit fields appear in the QuickCash window. However, whether you can enter values in these fields depends on the receipt's Application Type and creation status.
If you are applying a QuickCash receipt using an Application type other than 'AutoCash Rule' and the receipt creation status of the Receipt Class is 'Cleared,' Receivables lets you enter an amount in the Bank Charges field. (A receipt is created as Cleared if the Clearance Method of the receipt class is set to 'Directly.')
When applying QuickCash receipts using an Application Type of 'AutoCash Rule,' Receivables disables the Bank Charges field. For more information about how Receivables uses the Bank Charges and Tolerance Limit values to match receipts with invoices, see: AutoCash.
Prerequisites
Perform all required set up steps preceding receipt entry. See: Entering Receipts.
Navigate to the Receipt Batches window.
To create a new batch, choose a Batch Type of Manual-Quick, then enter information for this batch. See: Batching Receipts for Easy Entry and Retrieval.
To add receipts to an existing QuickCash batch, query the batch.
Suggestion: To query a batch of receipts imported by AutoLockbox, query the transmission number or the Lockbox name in the Transmission region.
Choose Receipts.
Enter the Receipt Number, Receipt Date, and GL Date. The batch Deposit Date and GL Date provide the default Receipt and GL Dates, but you can change them. The receipt GL Date must be in an open or future-enterable period.
Enter the receipt Currency (optional). The batch currency provides the default currency, but you can change it to any currency defined in the system if you have at least one remittance bank account with the Receipts Multi-Currency flag set to Yes. See: Foreign Currency Transactions.
Enter the Net Amount of this receipt. If bank charges apply, enter the amount in the Bank Charges field. Receivables calculates the total amount as the sum of the net amount plus the bank charges.
Specify how to apply the receipt by choosing one of the following Application Types:
Auto Cash Rule: Apply receipts to this customer's transactions using AutoCash Rule Set defined for this customer's profile class. If this customer's profile class does not have an AutoCash rule Set assigned to it, Receivables uses the AutoCash Rule Set defined in the System Options window. See: AutoCash.
Single: Apply this receipt to a single installment. If you choose this option, you must also enter the transaction number to which you want to apply this receipt.
Multiple: Apply this receipt to multiple transactions or to multiple installments. You specify the transactions and installments to which you want to apply this receipt in the Applications window. See: Applying a QuickCash Receipt to Multiple Transactions.
Note: (Optional) You can create claims when applying a QuickCash receipt using either the Single or Multiple application type. You can enter a customer reference and reason, if provided. Receivables passes this information to Oracle Trade Management when you run Post QuickCash.
On-Account: Apply this receipt to a customer's account, but not to a specific transaction.
Unapplied: Mark this amount as Unapplied if this receipt is not applied to any transactions.
Unidentified: Mark this amount as Unidentified if this receipt is not associated with a customer.
Claim Investigation: Create non-invoice related claim for this receipt. For use with Trade Management only.
Note: (Optional) You can enter a customer reference and reason, if provided. Receivables passes this information to Trade Management when you run Post QuickCash.
Enter the Customer Name, Number, and Bill-to Location for this receipt. When you enter the customer, Receivables enters this customer's primary bill-to location (if one exists), but you can change this value. If the system option Require Billing Location for Receipts is set to Yes, you must enter a bill-to location.
Suggestion: If you need to apply a receipt to debit items, but you do not know the customer's name, instead of entering an Application Type, first enter one of the debit item numbers in the Apply To field. When you do this, Receivables displays the name of the customer associated with this transaction. Then, enter the appropriate application type.
Attention: If you do not enter a bill-to location and the customer has no statement site, any unapplied or on-account receipt amounts will not appear on statements sent to this customer.
If you chose an Application Type of Single, enter a transaction number or select one from the list of values. Receivables enters the customer and remittance bank information for this transaction.
If the transaction currency is different from the receipt currency, enter either the Amount Applied or Cross Currency Rate.
Note: To apply an amount greater than the balance due, the transaction type of the open debit item must allow overapplication and the profile option AR: Allow Lockbox Overapplication must be set to Yes.
If the transaction type does not allow overapplication and you try to overapply the transaction when Trade Management is installed, then QuickCash applies the balance due and creates a claim for the overapplication amount.
Enter the Receipt Method if it did not default from the batch information, or if you changed the receipt currency. You can only select receipt methods that have remittance bank accounts assigned to them that have the same currency as the currency you specified for the receipt, or that have the Multiple Currencies Allowed check box selected.
If you are using manual document numbering, enter a unique Document Number. Otherwise, Receivables assigns a unique number when you save. See: Implementing Document Sequences.
Move to the next record and repeat the steps above for each receipt to add to this batch.
You can apply a QuickCash receipt to several transactions by choosing an application type of 'Multiple.' You then select to which transactions you want to apply this receipt in the Applications window. Receivables does not actually update your customer's balance until you run Post QuickCash.
You can apply a receipt to a transaction even if the GL date is in a future accounting period or the transaction currency is different from the receipt currency. You can also apply a receipt to other customer's transactions if the system option Allow Payment of Unrelated Invoices is set to Yes.
You can also apply a QuickCash receipt against open receipts that are in the same currency. See: Receipt-to-Receipt Applications.
Navigate to the Receipt Batches window.
Query or enter the QuickCash batch. See: Entering Quick Receipts.
Choose Receipts.
If this is a new batch, enter receipt information and choose an Application Type of Multiple. If the receipt currency is different from the batch currency, specify exchange rate information.
Choose the Multiple button.
Enter a transaction or open receipt, or select one from the list of values.
Enter the amount of the receipt to apply to this transaction.
Note: If applying this receipt against an open receipt, then skip to the next step.
Use the AR: Always Default Transaction Balance for Applications profile option to control how Receivables defaults the applied amount.
Note: To apply an amount greater than the balance due, the transaction type of the open debit item must allow overapplication and the profile option AR: Allow Lockbox Overapplication must be set to Yes.
If the transaction type does not allow overapplication and Trade Management is installed, then QuickCash applies the balance due and creates a claim for the overapplication amount if you try to overapply the transaction.
The default Discount is the earned discount amount available for this application, unless the system option Allow Unearned Discounts is set to Yes. In this case, the default discount is the amount that, along with the receipt amount applied, closes this item. However, the discount amount cannot be greater than the maximum discount allowed for the transaction (which is determined by the transaction's payment terms). If you do not want Receivables to calculate a discount, change the value of the Discount field to null (no value). See: Discounts.
Note: Use the hidden field, Estimated Balance Due, to obtain a preview of the remaining balance due on a transaction after considering the current application line that Post QuickCash program might create upon submission. The values displayed in this column are estimates only, and do not convey:
Multiple applications to the same transaction.
Rather, each field reflects the estimated balance due for the current application line.
Discounts for AutoLockbox receipts.
AutoLockbox does not calculate discounts. Therefore, for application lines coming from AutoLockbox, the discount field will be empty.
If applying this receipt against an open receipt, then the amount applied defaults to the greater of either:
the amount remaining on the QuickCash receipt, or
the amount of the open receipt's open item (unapplied or on-account cash, or open claim investigation application)
If the receipt and transaction currencies are different, enter either the Allocated Receipt Amount or the Cross Currency Rate. The Allocated Receipt Amount is the amount to apply in the receipt currency. If you enter the Allocated Receipt Amount, Receivables calculates the cross currency rate, and vice versa.
Move to the next record and repeat the steps above for each transaction to which you want to apply this receipt.