Modern Best Practices for Financials: Customer Invoicing

Customer Invoice to Receipt

Invoice delivery, payment receipt processing, and accurate discrepancy reconciliation are vitally important to successful organizations. This article focuses on the Financial Best Practice Customer Invoice to Receipt, identifying the core components, discussing the importance and implications of each, and high-lighting the solutions delivered by the Oracle Financials Cloud.

The Oracle Financials Cloud implements and enforces modern best practices for Financials. The key process flows provide a clear and simple path to create and maintain a successful results-focused state of the art financial organization.

Customer Invoice to Receipt Best Practices

Timely, accurate customer billing process ensures healthy cash flow and high customer satisfaction. Adopting modern best practice with its built-in analytic, mobile, and social capabilities can radically streamline your invoice to receipt process, putting you in complete control of managing your days sales outstanding. Set business rules to manage the creation of invoices and debit/credit memos based on order fulfillment transactions. Use real-time insight and social platform to rapidly resolve billing issues. Apply payments to invoices automatically based on configured criteria or receive suggestions from a matching algorithm. Cloud applications provide an easy platform to securely mobilize the customer billing, payment recording and receipt remittance. Leverage Oracle Modern Best Practice to bill customers, handle exceptions, analyze issues, and get paid faster.

Create and Manage Transactions

Automatically generate customer invoices, credit and debit memos from sales fulfillment transactions based on business rules. Review status via role-based dashboards.

Send Invoices

Send customers discrete invoicing documents or consolidated statements via preferred format and delivery method (mail, e-mail, or e-commerce message).

Address Billing Issues

Manage customer disputes and billing issues with role-based dashboard. Collaborate on investigations via a secure social platform. Apply corrections (credit or debit memos) and refunds after required review and approval.

Process Payments

Automatically match receipts to invoices even without remittance advice using configurable rules or scoring engine. Handle exceptions with help from recommendation algorithm.

Manage Adjustments

Close receipts and invoices with remaining balances based on company policy and approval limits.

Post Receivables Activities

Automatically post all approved receivables activities to the general ledger to ensure current account balances.

Schedule Receivables Close

Stay on predetermined close schedule. Use integrated inquiry, reporting and analysis tools to review and reconcile account balances. Post period close entries and close receivables period.

Read each installment of Modern Best Practices for Financials and Oracle Financials Cloud where we drill down to the details of each Best Practice.

The full list of Financial Best Practice processes is:

  • Period Close to Financial Reports
  • Daily Close to Forecast
  • Budget to Approval
  • Supplier Invoice to Payment
  • Customer Invoice to Receipt
  • Customer Statement to Collection
  • Bank Transaction to Cash Position
  • Asset Acquisition to Retirement
  • Expense Report to Reimbursement

Contact Belltane at any time for more information, live demonstrations, and solution packages and quotes.

2 thoughts on “Modern Best Practices for Financials: Customer Invoicing

  1. Pingback: Modern Best Practices for Financials: Period Close | Belltane Enterprise Cloud Blog

  2. Pingback: Modern Best Practices for Financials: Planning & Budgeting | Belltane Enterprise Cloud Blog

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s