Autoinvoice

Autoinvoice

In order to create Autoinvoice, we need to do some basic setups. These Setups are as following

1.)    Define System Options: Navigate to AR Responsibility > Setup > System > System Options

2.)    Define Auto Accounting for Receivables, Revenue, Tax, Freight, Autoinvoice clearing, Unbilled Receivables & Unearned Revenue: Navigate to AR Responsibility > Setup > Transactions > Autoaccounting & give details as shown below

3.)    Define Receivables Transaction Types: Navigate to Setup > Transaction > Transaction Types

 4.)    Define Transaction Sources (With type as imported): Navigate to AR Responsibility > Setup > Transactions > Sources & give details as shown below

5.)    Define Remit-To Address: It is our address that will be printed on invoice for customer to help sending payments to us. We can have more than 1 Remit-To Address

Navigate to AR Responsibility > Setup > Print > Remit-To Address

Click on Create Remit-To Address & give details as shown below

Click on Apply

Similarly create Remit-To Address for other countries. Give details as shown below

6.)    Define Accounting Rules: It is used to recognize revenue portion of the transactions. Navigate to Setup > Transactions > Accounting Rules & give details as shown below

7.)    Open the periods: Navigate to Control > Accounting >Open / Close Periods & open the period as shown below

8.)    Define Finance Option @ each line transaction type: Navigate to OM Responsibility > Setup >Transaction Types > Define  à Query for transaction type (Line Transaction Type) & give details in Shipping & Finance tabs as shown below

With this all setups to create an invoice is complete. Next we’ll create an order & check the invoice