Receipts are cash receipt transactions and manage closure of open receivable balances.
E-Business Suite allows the user to enter two types of receipts in the system. They are as follows:
Receipts can be entered once specific configurations are completed. The configurations that must be completed before you can enter receipts are as follows:
Define Banks
Define Receipt Classes
Define Payment Methods
Define Receipt Sources (to batch receipts)
The banks define where the money is going to be deposited and the account that should be impacted when a receipt is saved.
The payment method identifies the receipt transaction by how they were paid. Examples are check, wire, and so on.
The Receipt Sources allow you to batch the transactions together so these are easier to manage for reconciliation.
The receipt batch is not a mandatory configuration, unless you are transacting automatic...