Similar to 11i & R12, You can create below transactions in fusion receivables
• Invoices and Debit Memos
• Credit Memos
• On-Account Credit Memos
• Chargebacks
• Adjustments
All the new fields in fusion application transaction form are outlined in the above pic.
Business unit: Similar to operating unit in 11/R12
Accounting Date: GL date in 11i
Attachment Note
Question : Where is the legal entity information ?
Click on more and navigate to miscellaneous tab to verify the other details

The RA_CUSTOMER_TRX table stores invoice, debit memo and credit memo header information. Each of these transactions is stored as a unique record, based on the primary key customer_trx_id. The transaction number, transaction date and billing customer are stored in the trx_number, trx_date and bill_to_customer_id columns respectively.
The RA_CUSTOMER_TRX_LINES table stores invoice, debit memo and credit memo line level information. Each transaction line is stored as a unique record, based on the primary key customer_trx_line_id column. The customer_trx_id column is a foreign key to the RA_CUSTOMER_TRX table.
The AR_PAYMENT_SCHEDULES table stores customer balance information at the transaction level. Each transaction balance is stored as a unique record, based on the primary key payment_schedule_id. The class column identifies the transaction type and determines which columns Receivables updates when a transaction is stored.

What is a tree?
A tree is hierarchical structures that enable several data management functions such as better access control, application of business rules at various levels of hierarchies, improved query performance, and so on.
This concept is similar to the organization hierarchy in 11i & R12.
For example, MI Corporation has two departments: Marketing and Finance.
The Finance department has two functional divisions: Receivables and Payables.
Defining a tree for the MI Corporation establishes a hierarchy between the organization and its departments, and between the departments and their respective functional divisions as shown in above pic.
What is a tree Structure?
A tree structure is configuration on the basis of which trees are created. It defines and restricts the tree. A tree is an instance of the hierarchy as defined in the tree structure. Tree structures enable you to enforce business rules to which the data must adhere.
The root node is the topmost node of a tree. Child nodes report to the root node. Child nodes at the same level, which report to a common parent node, are called siblings. Leaves are details branching off from a node but not extending further down the tree hierarchy.
Important Points

  • You can associate multiple data sources with a tree structure.
  • Every tree structure can contain one or more trees.
  • You can create tree structures specific to an application but you can share tree structures across applications.
  • If you apply version control to the tree structure, it is carried over to the trees that are based on the tree structure.
  • Each tree version contains at least one root node. Occasionally, a tree version may have more than one root node.
  • An administrator controls the access to tree structures through a set of rules that are periodically audited for validity.

What is a tree version
A tree is created having only one version. However, users can create more than one tree version depending on the need, and they can make changes to those versions. Depending on varying requirements, users can create one or more tree versions and publish all of them or some of them by making the versions active at the same time. Similar to any other version control system, versions of trees are maintained to keep track of all the changes that a tree undergoes in its life cycle.
What are tree labels
Tree labels are short names associated with trees and tree structures and point directly to the data source. Tree labels are automatically assigned to the tree nodes. You can store labels in any table and register the label data source with the tree structure.

Oracle Fusion Receivables provides most of the functionalities available in Oracle EBS 11i/R12. All the mandatory setups are also similiar to the setups available in 11i/R12.
OFR allows you to perform most of your day-to-day accounts receivable operations. Receivables lets you manage customer billing activities, process customer payments, manage accounts receivable balances, and perform tasks that are related to revenue recognition and revenue adjustments.

In 11i/R12 there are many configuration data which ‘er shared across all the OUs. Ex: Payment term. It’s good because you are required to define the data only once but the biggest disadvantage is that there is no method to restrict the access. In fusion application a new concept of data sharing is added, where you define reference data set(s) and determine how the data is shared or partitioned.
Reference data sharing facilitates sharing of configuration data such as jobs and payment terms, across organizational divisions (another new organization concept in FA) or business units. Depending on the requirement (specific or common), each business unit can maintain its data at a central location, using a set of values either specific to it or shared by other business units.
This new feature reduces duplication as well as provides the facility to restrict data as required.
From Oracle Guide

Reference data sets are logical groups of reference data that can be accessed by various transactional entities depending on the business context. Oracle Fusion Applications contains a common reference data set as well as an enterprise set that may be used as a default set. Depending on your business requirement you can create and maintain additional reference data sets, while continuing to use the common reference data set.

Ex: The senior management can decide to use a single AP payment method data set throughout the enterprise & let business unit’s managers define their own payment formats.
The partitioning of reference data and creation of data sets enable you to create reference entities across tables or lookup types, and share modular information and data processing options among business units. With the help of partitioning, you can choose to create separate sets and subsets for each business unit depending upon its business requirement, or create common sets or subsets to enable sharing reference data between several business units, without the need for duplicating the reference data. Partitioning provides you the flexibility to handle the reference data in a way appropriate to your business needs.
The figure illustrates the reference data sharing method (assignment to one set only, with common values) where the user can access the data assigned to a specific set in a particular business unit, as well as access the data assigned to the common set.

In Oracle Fusion Applications, the Enterprise Performance and Planning Business Process Model (BPM) illustrates the major implementation tasks that you perform to create your enterprise structures. This process model includes the Set Up Enterprise Structures detailed business process, which consist of implementation activities that span many product families.
Information Technology is a second BPM which contains the Set Up Information Technology Management detailed business process. Define Reference Data Sharing is one of the activities in this detailed business process and is important in the implementation of the enterprise structures. This activity creates the mechanism to share reference data sets across multiple ledgers, business units, and warehouses, reducing the administrative burden and decreasing the time needed to implement.The important activities of BPM are:
1.1 Define Enterprise
Define the enterprise to capture the name of the deploying enterprise and the location of the headquarters. There is normally a single enterprise organization in a production environment. Multiple enterprises are defined when the system is used to administer multiple customer companies, or when you choose to set up additional enterprises for testing or development.
1.2 Define Enterprise Structures
Define enterprise structures to represent an organization with one or more legal entities under common control. Define internal and external organizations to represent each area of business within the enterprise.
2.1 Define Legal Jurisdictions and Authorities
Define information for governing bodies that operate within a jurisdiction.
2.2 Define Legal Entities
Define legal entities and legal reporting units for business activities handled by the Oracle Fusion Applications.
3.1 Define Business Units
Define business units of an enterprise to allow for flexible implementation, to provide a consistent entity for controlling and reporting on transactions, and to be an anchor for the sharing of sets of reference data across applications.
4.1 Define Financial Reporting Structures
Define financial reporting structures, including organization structures, charts of accounts, organizational hierarchies, calendars, currencies and rates, ledgers, and document sequences which are used in organizing the financial data of a company.
4.2 Define Chart of Accounts
Define chart of accounts including hierarchies and values to enable tracking of financial transactions and reporting at legal entity, cost center, account, and other segment levels.
Define Ledgers Define the primary accounting ledger and any secondary ledgers that provide an alternative accounting representation of the financial data.
4.3 Define Accounting Configurations
Define the accounting configuration that serves as a framework for how financial records are maintained for an organization.
5.1 Define Facilities
Define inventory, item, and cost organizations. Inventory organizations represent facilities that manufacture or store items. The item master organization holds a single definition of items that can be shared across many inventory organizations. Cost organizations group inventory organizations within a legal entity to establish the cost accounting policies.
5.2 Define Reference Data Sharing
Define how reference data in the applications is partitioned and shared.