Earnest Money Deposit (EMD) is payment that suppliers are required to make to a buying organization in order to be eligible to participate in a Sourcing negotiation. EMD is often mandatory in Public Sector companies and Government organizations in APAC and EMEA. There is an out-of-the-box integration with Oracle Financials, so that the receipt, forfeit and refund of EMD can leverage Oracle Receivables and Oracle Payables. Customers not using Oracle Financials can still use the EMD feature in Oracle Sourcing.This feature in Oracle Sourcing ensures that the end-to-end sourcing process for the buying organization can be performed, and customers will not have to rely on processes outside the application to complete their sourcing negotiations. This paper provides an Overview of functionality,set up and test case of EMD.
Sirisha Padmala is senior principal software engineer in Oracle India with 14+ years of experience in Oracle EBS. Prior to joining Oracle, she worked in Infosys as a consultant. She has vast experience in coding and consulting. She implemented EBS for many global customers. As part of centre of expertise team of support in oracle, she handles critical functional and technical issues raised by customers mainly in procurement space.