Test script for Partial Period Revenue Recognition

Test script for Partial Period Revenue Recognition:

Check/test:
a) You must use service type items only for this test script.
b) Check in AR module about 2 new accounting rule types - the daily revenue rate for all periods and the daily revenue rate for partial periods.
c) Define revenue recognition rules from these 2 new rule types.
d) These new rules calculates the revenue at a daily rate and for partial periods accurately thus enabling Revenue Managers to handle the strict standards for Revenue Recognition.
e) Create 2 sales order by using these 2 new accounting rules( using new rule types) and check the accuracy of calculated revenue.
f) Within Order Information Portal (OIP)check whether you can view the name and address of the End Customer, as captured at the time of processing the order, at both at the header and line levels. Order Information is a web-enabled, self-service Oracle application that allows you to view detailed sales order and delivery information online. It also provides a variety of web inquiries, order processing flows, and workflows. The standard order inquiry flows enable you to go through web pages to access order related information.
Test Script for Improved Order Management, Install Base, and Service Contracts module Integration:
Check/test:
a) A Warranty contract is created when a Serviceable product is shipped to the customer . A Warranty contract is also created when serviceable product with bill of material contains a warranty clause . Whenever possible, where multiple products are sold on one sales order, one warranty is created for all the products. Each different warranty item on a sales order creates a separate warranty line on the Warranty contract.
b)Service Contracts module has an API which pulls information from the Install Base for newly created customer records and creates an ownership record.
c) An Extended Warranty contract is created when an Extended Warranty is sold on a sales order. Extended Warranty contracts can also be consolidated.
d)Order Management interfaces to Service Contracts via the Fulfillment workflow activity (Fulfill Line). This activity populates the Service Contracts interface table. You need to run the Service Contracts Order Processing concurrent program to process the interface records .It created Extended Warranty contract
e)When a serviceable item is returned for credit, whether the customer is credited for the extended warranty depends on the setting of a particular OKS profile option.
f)Create sales order in OM and create an Extended Warranty contract as above .Also return the serviceable item to service provider and see/check whether credit is created for that.
Test script for Payment Due with Order (Pay Now Pay Later):
Check/test:
a)When selling services and equipment to customers, the customer may be required to pay for a portion of the total order amount as a deposit when the order is placed, based on the business logic specified by the service provider. You may create a sales order for equipment or service items with 10% advance amount, freight and shipping charges, installation charges and other charges.
b)The Pay Now Total can include any of the following amounts in the iStore cart, quotation , or sales order: ? Equipment Charges, freight & shipping charges, and taxes. ? One-Time Charges such as Activation Fees, Installation Fees, or Change Fees. ? Deposits taken due to poor credit or other reasons. ? The first installment of an installment payment for equipment. ? Prepayment charges for the first month's service. Check whether the Pay Now Total shows amount as expected in cart ,Quotation or sales order.

Payables Basic setup steps

Payables Basic setup steps

Step 1 Install or upgrade Payables. (Required)

Step 2 Create application user sign-ons and passwords. Users Window. System Administrator responsibility: Users (Required)

Step 3 Define your chart of accounts. Defining Your Chart of Accounts , (Required)

Step 4 Define your accounting period types and accounting calendar periods. Defining Period Types, and Defining Calendars.

Step 5 Enable currencies that you plan to use. Currencies Window. (Optional)

Step 6 Define a set of books. Specify a set of books name and assign it a calendar, functional currency, and a chart of accounts structure. Defining Sets of Books. (Required)

Step 7 Use the System Administrator responsibility to assign your set of books to a responsibility. Function Security in Payables. (Required)

Step 8 If you want to enter foreign currency transactions, define additional rate types, and enter your daily rates. Defining Conversion Rate Types, Entering Daily Rates, and Foreign Currency Transactions. General Ledger: 1) Conversion Rate Types and 2) Daily Rates (Optional)

Step 9 Select your primary set of books. Choosing a Set of Books. (Required)

Step 10 After choosing your set of books, use the Application Developer responsibility to set the GL Set of Books ID profile option to Updateable. Overview of User Profiles, and Setting User Profile Options (Required)

Step 11 After choosing your set of books, use the System Administrator responsibility to set the GL Set of Books Name profile option. If you are performing a single set of books installation, set the option for the Oracle Payables application. If you are performing a multiple set of books installation, set the option for each unique combination of organization and responsibility. Overview of User Profiles, and Setting User Profile Options. (Required)

Step 12 Define your payment terms. Payment Terms. (Required)

Step 13 Define your purchase order matching tolerances. Invoice Tolerances. (Optional)

Step 14 If you plan to use automatic withholding tax, define Tax Authority type suppliers. (You must do this before defining tax names and tax groups.) Entering Suppliers. (Required)

Step 15 Define tax names, and if you use automatic withholding tax, define withholding tax groups. Tax Names, Withholding Tax Groups, and Setting Up Withholding Tax. (Optional)

Step 16 Define invoice approval codes. You use these codes to apply and release holds from invoices. Invoice Approvals. (Required)

Step 17 Define distribution sets. You can use a distribution set to automatically enter distributions for an invoice. Distribution Sets. (Optional)

Step 18 Define Payables QuickCodes. QuickCodes. (Required)

Step 19 If you want to use Automatic Interest Calculation, define payment interest rates. Interest Rates. (Optional)

Step 20 If you want to use Payables to enter employee expense reports, create templates for entering expense reports. Expense Report Templates (Optional)

Step 21 If you use Payables to enter employees in your organization, enter employee Quick codes. Adding Quickcode Values. (Optional)

Step 22 Enter locations. Site Locations. (Required)

Step 23 Enter employees. Enter Person. (Required)

Step 24 Define one or more reporting entities for your organization for income tax reporting. Reporting Entities. (Required)

Step 25 Define additional United States 1099 income tax regions. Income Tax Regions. (Required)

Step 26 If Oracle Inventory or Oracle Purchasing is installed, you must define at least one Inventory Organization before defining Financials Options. Creating an Organization (Required)

Step 27 Define Financials options. Financials Options. (Required)

Step 28 Define Payables options. Payables Options. (Required)

Step 29 Define payment programs. Automatic Payment Programs. Automatic Payment Programs (Required)

Step 30 Define any additional payment formats. Payment Formats.
Note: If you plan to define foreign currency or multiple currency payment formats, you must first enable the Allow Multiple Currencies Payables option in the Payables Options window. Currency Payables Options. (Optional)

Step 31 Update country and territory information and assign flexible address formats.  Countries and Territories, and Flexible Addresses. (Optional)

Step 32 Define bank accounts. Defining Banks. (Required)

Step 33 Open your accounting period. Controlling the Status of AP Accounting Periods. (Required)

Step 34 Define request sets. Defining Request Sets. (Optional)

Step 35 Define the format for the Expense Distribution Detail Report, and define the format for the Invoice Aging Report. Account Segments for Expense Reporting, and Aging Periods. (Optional)

Step 36           Set up Print Styles and Drivers for the Supplier Mailing Labels Report. Setting Up Print Styles and Drivers for the Supplier Mailing Labels Report. (Required)

Step 37           Define special calendars for key indicators, recurring invoices, and withholding tax. Special Calendar. Special Calendars (Optional)

Step 38           Implement Budgetary Control in General Ledger. Setting Up Budgetary Control (Optional)

Step 39           Implement sequential voucher numbering. Implementing Sequential Voucher Numbering. (Optional)

Step 40           Define descriptive flexfields. Defining Descriptive Flexfields. (Optional)

Step 41           Set Profile Options. Profile Options in Payables. System Profile Values (Optional)