Receivable Activity – Refund

What is a Refund in Oracle Fusion Receivables?

A Refund in Oracle Fusion Receivables is the process of returning money to a customer when they have overpaid, made a duplicate payment, or have an unapplied receipt that is no longer needed.

When to Use a Refund:

• The customer has paid more than the invoice amount
• A duplicate receipt was posted
• A credit balance exists after adjusting or canceling an invoice
• The customer requests the excess amount back instead of leaving it as a credit on account

How to configure Refund Activity?

Login to your User Account

Go to “Setup and Maintenance “

Then go the Manage Receivable activity task

Then you will get the below window

Click on “ + “ Button

Create the Receivable Activity with all the details

Click on Save then -> Save and Close

The next step is to put limit to refund must take from another user to give you the limit (can’t give yourself limit).

So Logout from Your User “ LG”

Then Login to the other User “ FF “ User

Then go to “Setup and Maintenance”

Click on “+ “ and give the user name

Click on save and Close

Creation of Transaction and Post to Ledger

Then add the transaction to the receipt

Then select the “Issue Refund”

Then go to Actions -> Post to Ledger

Then follow the payment refund using the below hyperlink

Then payment request will make automatically

Then open payables: invoices, Task panel: manage invoices

Search for the invoice

Post the invoice to Ledger as the invoice is “unaccounted”

The next step is to pay it you can pay it also from action🡪 Pay in full

Then you will see the below window then click -> Submit

Open payables: Payment, Task panel: Manage Payment

Then search for Payment number : 4040

Then post it to Ledger from Actions -> Post to Ledger

What is a Refund in Oracle Fusion Receivables?

A Refund in Oracle Fusion Receivables is the process of returning money to a customer when they have overpaid, made a duplicate payment, or have an unapplied receipt that is no longer needed.

When to Use a Refund:

• The customer has paid more than the invoice amount
• A duplicate receipt was posted
• A credit balance exists after adjusting or canceling an invoice
• The customer requests the excess amount back instead of leaving it as a credit on account

How to configure Refund Activity?

Login to your User Account

Go to “Setup and Maintenance “

Then go the Manage Receivable activity task

Then you will get the below window

Click on “ + “ Button

Create the Receivable Activity with all the details

Click on Save then -> Save and Close

The next step is to put limit to refund must take from another user to give you the limit (can’t give yourself limit).

So Logout from Your User “ LG”

Then Login to the other User “ FF “ User

Then go to “Setup and Maintenance”

Click on “+ “ and give the user name

Click on save and Close

Creation of Transaction and Post to Ledger

Then add the transaction to the receipt

Then select the “Issue Refund”

Then go to Actions -> Post to Ledger

Then follow the payment refund using the below hyperlink

Then payment request will make automatically

Then open payables: invoices, Task panel: manage invoices

Search for the invoice

Post the invoice to Ledger as the invoice is “unaccounted”

The next step is to pay it you can pay it also from action🡪 Pay in full

Then you will see the below window then click -> Submit

Open payables: Payment, Task panel: Manage Payment

Then search for Payment number : 4040

Then post it to Ledger from Actions -> Post to Ledger