How to write off small receipt amount

Some time client may receive money few pounds more than the transaction(s) amount from customer.  There is a standard functionality available in Oracle AR to treat and account this.

Small receipt amounts can be written off without leaving the amount in unapplied. E.g. Transaction value – 1010 and the receipt has been received for 1015, the remaining 5 can be written off.

Create receivable activities for small amount write off

Configure system option for receipt written off

Configure Receipt written off approval limits

Create Invoice for 1010

Go and create receipts for 1015

Apply 1010 to invoice and select receipt written off from LOV to adjust excess receipt 5

 

Select the receivable activity created from LOV