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“Refund” Payments Functionality in R12

In previous Post [1] you have seen the functional overview for Refund Functionality in R12. This post will give more insight.

WHAT IS REFUND

Refund [1] is kind of a single payment to a supplier or customer, usually to reimburse them for:

SENARIOS ...

In order to understand, presume you want to stop doing Business with a supplier

Once you save the Refund [1] Payment, the invoice and credit memo are marked as paid, and you have no outstanding documents for the supplier

WHAT YOU NEED FOR THIS REFUND

TAKE AWAY

When you have debit/credit memo on a supplier or employee account (generally due to over payments or returns) which cannot be
matched directly to any existing open invoices, the supplier or employee may send you a refund for the memos. In that case, you can record the "refund" against those memo(s) by recording a "refund" type of payment in the Payment Workbench.

VOIDING REFUND

You can void a recorded Refund just as you would any other payment.

Hope this helps you to understand the refund functionlity.

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