Excellent Video sir, thanks for your time and explaining so detailed way. GOD bless you to keep in good health in spirits and we are privileged to have people like you to serve this group
@@SuhasVaze dear suhas can you explain the reason why do you think this scenario is invalid. There could be a case where receipts are remitted and the actual cash realised matches the bank statement line, hence remottance type standard and clearing as directly seems valid to me
@@ashutosh5503 Dear Viewer, In "Standard" remittance, the remittance is "required" without which receipt cannot be cleared. Hence "Direct" clearance is not possible in such case. For example, if you apply "Standard" remittance to a "Check" receipt, unless you deposit (remittance in this case) it in bank, it cannot be cleared. "Direct" clearance presumes the receipt as "cleared" as soon as it is "entered". How can a check be "cleared" without depositing (remittance) in bank? hope you get the point.
Great video! One has to ask ones self why would anyone do all those steps for Remittance and Clearing :) I prefer the direct approach, and maybe the use of Cash Clearing, but why all those steps for remittance would be efficient escapes me...but then again, maybe its a Government thing!!!! And nothing they do is "efficient"....
Excellent Video sir, thanks for your time and explaining so detailed way. GOD bless you to keep in good health in spirits and we are privileged to have people like you to serve this group
Dear Balachander, thank you for your kind words !
Thank you for uploading this video.It is so helpful to me.This is best video for receipt accounting i have ever had so far.
You are welcome mounika. You may benefit from our fusion cloud training batches at following link. oracleerpguide.com/fusion-trainings-weekends-learn/
Hi sir,
Nice explaination.
What would be the accounting for 4th scenario where Remittance method is standard and clearance method is Directly
Does Oracle support the last scenario, remittance method standard and clearing method directly
Dear Viewer, The last scenario is invalid. We can say 'Not supported' but in fact there is no question of supporting it as it is invalid.
@@SuhasVaze dear suhas can you explain the reason why do you think this scenario is invalid. There could be a case where receipts are remitted and the actual cash realised matches the bank statement line, hence remottance type standard and clearing as directly seems valid to me
@@ashutosh5503 Dear Viewer, In "Standard" remittance, the remittance is "required" without which receipt cannot be cleared. Hence "Direct" clearance is not possible in such case. For example, if you apply "Standard" remittance to a "Check" receipt, unless you deposit (remittance in this case) it in bank, it cannot be cleared. "Direct" clearance presumes the receipt as "cleared" as soon as it is "entered". How can a check be "cleared" without depositing (remittance) in bank? hope you get the point.
Its really very good video to understand of Receipt Remittance. A request , is it possible to post video on Integration ( Fusion Financial ).
Dear Chikkappa, thank you for the appreciation. We may consider your suggestion sometime in the future
@@SuhasVaze - Could you please upload the end 2 end overview of Lock box - Fusion receivables.
@@chikkappalingaiah2621 Dear Chikkappa, thank you for your suggestion, we might consider it in the future.
@@SuhasVaze can u pls post fusion integration and interfaces videos.
Awesome....wonderful explanation along with examples. THANK YOU.
You are welcome Santosh
Great video! One has to ask ones self why would anyone do all those steps for Remittance and Clearing :) I prefer the direct approach, and maybe the use of Cash Clearing, but why all those steps for remittance would be efficient escapes me...but then again, maybe its a Government thing!!!! And nothing they do is "efficient"....
Sir please choose bills receivable method na
Awesome sir.. Great explanation ! Can you also please help explain Bills Receivable thro a similar video?
a brilliant visual explanation..
Glad you liked it
can you speak about automatic receipt