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Commonly asked questions
We don't have an Accounts Payables FAQ. Here are some commonly asked questions that can be used to develop such an FAQ. If you can help, please EDIT this page and add your wisdom.
- Explain the Business Flow of Accounts Payables
The typical Oracle Payables business process flow is setup, suppliers, invoices and payments, inquiry and reporting and period-end processing. The Oracles Payables business flow is setup, supplier entry, invoice entry, payments or disbursements generation, inquiry and reporting and period-end processing. Each organization must define its specific operating environment.
- What are all the Modules Interacting with AP
Cash Management Oracle iExpenses General Ledger Oracle Assets Subledger Accounting (XLA - R12) HRMS Project Accounting Purchasing/iprocurement Global Accounting Engine (AX - 11i)
- Define Payment Terms and their Types
Payment Terms are defined to automatically create payment schedule lines for an invoice. The due date for every invoice shall be determined by the Payment Term associated with it. Multiple scheduled lines and multiple levels of discount can be defined in payment terms. There is no limit to number of Payment Terms that can be defined for an organization. While scheduling, the payment term determines the following with regard to an invoice: a. Number of installments in which the invoice needs to be settled b. Amount in each installment c. Due Date of each installment d. Discounts available for early payment of each installment. Navigation: Setup> Invoice> Payment Terms
The due date of every installment is determined by TERMS DATE BASIS. The Terms Date can be any of Invoice Date, Invoice Received Date, Goods Received Date or Systems Date. In a case where the PO Payment term differs from the Invoice payment term, the payment term which has better ranking shall take precedence. Changing the Payment Terms in an invoice after the payment lines are scheduled changes the scheduled payment lines.
- Define Distribution Set and their Types
- Where to define a supplier
Supplier is defined at payables.The navigation path for this is Supplier>entry
- What is a supplier site and its types
Supplier site is the location of the supplier from where the business is done. The types of supplier sites are RFQ only, Pay, Primary pay, Purchasing, Procurement card
- Explain the Necessary Details required to define a supplier
- Types of Invoices
8 types of invoices. Debit memo, Credit memo, Expense reports, Standard invoice, Prepayment mixed, po default, quick match
- What is a Debit Memo and Credit Memo
- What are all the Taxes Available in AP
- Withhold Tax Types
- How to approval an invoice
- What is a Hold and Release
- What is a accounting entries for entering a invoice
- How to cancel an invoice and what is the accounting entries
- What is a Prepayment and Explain the accounting entries
- What is Prorate Expenses in AP
- How to do accounting entries in AP
- How to approve ‘n’ no. of invoices
- What is Zero-Payment in AP
- Explain the process of withhold tax invoice
- Reports in AP
- What is Calculate Balanced Owned
- Different ways to Query the Invoices
- How to merge a supplier
Suppliers>supplier merge. This is used when a supplier company acquisition of another.
- What is a Pay Group
- What is a Special Calendar and its types
- What is Mixed Invoice
- Explain the Steps to Define Expenses Report
- What request submit to convert Expenses Report to Invoice
- How to define employee as supplier
In supplier> entry in classification tab we need to define the type of supplier as employee.
- Explain the Steps to Define Invoice Batches
- Explain the Steps to Define Recurring Invoices
- Various Taxes available in AP
- What is Tax Groups
- Different types of payments
- How to make payment for single invoice and multiple invoices
- What is a Payment Format
- Where to define a Payment Document
- What is a Post-Through Date in Payment Batches
- Steps to Define Payment Batches
- How to do foreign currency payment
- How to void a payment
- Different types of payment methods
- What is the accounting entries for future dated payment method
- Explain the Steps to transfer the data from AP to GL
R12 a) Run Create Accounting with the parameter Transfer to GL as Yes. b) Run Create Accounting with the parameter Transfer to GL as No and run Tranfer Journal Entries to GL. 1. Create Accounting 2. Transfer to GL (includes Journal Import) 3. Post to GL Parameters: a. Error Only : Yes (Only erred events will be picked up. Try to use No) b. Report : In Detail (if we make it detail then it will show with the detail output.) 11i a) If AX is installed Submit AX Posting Manager. 1. Translate Events 2. Tranfer to GL 3. Journal Import 4. Post to GL. b) If AX is not installed 1.Payables accounting process 2.Payables transfer to general ledger 3.Journal import 4.Post journals
- What are the types of Invoice Matching in AP
Invoice matching can be two-way (invoice to PO), three-way (invoice to PO to receipt) and four-way (invoice to PO to receipt to inspection of goods).
- How to create a Interest Invoices
- Define the accounting entries for payments
- What are the request will be submitted at the time of running payment batches
- Explain the Parameters required in the Setup of Financial Option and Payable Option