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In the Payment Terms window, you define payment terms that you can assign to an invoice to automatically create
scheduled payments when you submit Approval for the invoice. You can define payment terms to create multiple
scheduled payment lines and multiple levels of discounts. You can create an unlimited number of payment terms.
Payment terms have one or more payment terms lines, each of which creates one scheduled payment. Each payment
terms line and each corresponding scheduled payment has a due date or a discount date based on one of the
following:
o a specific day of a month, such as the 15th of the month
o a specific date, for example, March 15, 2002.
o a number of days added to your terms date, such as 14 days after the terms date
o a special calendar that specifies a due date for the period that includes the invoice terms date. Only due dates can
be based on a special calendar. Discount dates cannot be based on a special calendar.
Each payment terms line also defines the due or discount amount on a scheduled payment. When you define
payment terms you specify payment amounts either by percentages or by fixed amounts.After you define your
payment terms, in the Payables Options window you can select default payment terms that Payables automatically
assigns to the suppliers and supplier sites you enter. The payment terms for a supplier site default to the invoices you
enter for the site.The Payment Terms Which tells us The Installments of a Purchased Goods Are Services. And the
Discount is it will depends upon the Discount dates.
3. Is there any chance to create Vendor only once? If Where should you create?
Yes, Enable the check box in the Vendor Classification Screen
12. The Debit Memo & Credit Memo are same? Describe?
Debit Memo will raise the Customer,
Credit Memo will raise the Vendor
13. How can you match PO with Invoice? What you should not take in the Invoice?
Match/Po Number, Distribution Set should not be taken care at this point. When you enter an invoice and match it to
a purchase order, Payables automatically creates distributions for you and checks that your match is within the
tolerance you define. After you save the match, Payables updates the quantity billed for each matched shipment and
its corresponding distribution(s) by the amount you enter in the Quantity Invoiced field. Payables also updates the
amount billed on the purchase order distribution(s).
14. What you should take care When you Match Debit/Credit Memo with an Invoice?
The Invoice Should match with Po. When you enter a credit/debit memo, you can match it to existing invoice(s) to
have Payables automatically copy the accounting information and create invoice distributions for the credit/debit
memo. You can match the credit memo to multiple invoices, and at different levels of detail. Your available choices
depend on whether the originating invoice was matched to a purchase order or not.
For example, if you receive a credit for items you returned to a supplier, you can enter a credit memo and match it to
the original invoice you entered to ensure that the credit memo distributes the credit to the same accounts originally
charged.
If the original invoice is not purchase order matched (basic invoice), you can:
o Match to an invoice. Payables prorates your credit amount based on the invoice distribution amounts of the
original invoice. Payables automatically creates invoice distributions for the credit/debit memo based on the
distributions of the original invoice.
o Match to specific invoice distributions. You can allocate the credit amount to specific invoice distributions of the
original invoice. Payables automatically creates invoice distributions for the credit/debit memo based on the original
invoice distribution that you select. For example, you may order three chairs for three different departments and
return one. You can match a credit/debit invoice to the original distribution for that department to ensure that the
credit matches the charge.
If the original invoice is purchase order matched, you can:
o Match to specific invoice distributions. You can allocate the credit amount to specific invoice distributions of the
original invoice. Payables automatically creates invoice distributions for the credit/debit memo based on the original
invoice distributions that you select.
Payables updates the quantity billed for each of the originally matched purchase order shipments and their
corresponding distributions by the credit quantity you enter. Payables also updates the amount billed on the purchase
order distributions.
o Match to purchase order shipments. Payables prorates, based on the quantity billed, your credit amount across all
purchase order distributions associated with the purchase order shipment to which you match the credit/debit memo.
Payables automatically creates invoice distributions for the credit/debit memo based on the purchase order
distributions associated with the purchase order shipment you match to.
Payables updates the quantity billed for each purchase order shipment and its corresponding distributions by the
amount of the credit/debit memo. Payables also updates the amount billed on the originally matched purchase order
distributions.
o Record a Price Correction. Use a price correction when a supplier sends an invoice for a change in unit price for an
invoice you have matched to a purchase order. You can record a price correction by checking Price Correction when
you match a credit/debit memo to a purchase order shipment or purchase order matched invoice distribution. When
you record a price correction for a credit/debit memo, you are recording a price decrease from the original invoice.
Payables updates the invoiced unit price of previously matched purchase order shipment or distributions without
adjusting the quantity billed so you can track price variances; Payables also updates the amount billed on the
originally matched purchase order distributions.
To match a credit /debit memo to an invoice, invoice distribution, or a purchase order shipment:
If you want to match in further detail, continue the match at the invoice distribution or purchase order shipment
level:
o To match to invoice distributions, choose Distribute. For each invoice distribution you want to match to, select the
distribution and enter a Credit Amount.
o To match to purchase order shipments, choose Match PO. For each shipment you want to match to, select the
shipment and enter either a Quantity Invoiced or Match Amount. Payables automatically calculates the remaining
field (Quantity Invoiced x Unit Price = Match Amount). You can optionally change the Unit Price, which defaults
from the purchase order.
4. Choose Match to create invoice distributions for the credit/debit memo based on the matches you made.
To review the new invoice distributions, choose the Distributions button from the Invoices Summary.
In the Payment Terms window, you define payment terms that you can assign to an invoice to automatically create
scheduled payments when you submit Approval for the invoice. You can define payment terms to create multiple
scheduled payment lines and multiple levels of discounts. You can create an unlimited number of payment terms.
Payment terms have one or more payment terms lines, each of which creates one scheduled payment. Each payment
terms line and each corresponding scheduled payment has a due date or a discount date based on either a specific
day of a month, such as the 15th of the month, or a number of days added to your terms date, such as 14 days after
the terms date.
Each payment terms line also defines the due or discount amount on a scheduled payment. When you define
Payment Terms you specify payment amounts either by percentages or by fixed amounts. Payables provides a
predefined, unalterable payment term, called Prepayment Immediate, which Payables automatically assigns to all
prepayments you enter. After you define your payment terms, you can select default system payment terms that
Payables automatically assigns to the suppliers and supplier sites you enter. The payment terms for a supplier site
default to the invoices you enter for the site.
Attention: If you update the payment terms on an invoice, Payables recalculates the scheduled payment for the
invoice. Thus, you must reenter any manual adjustments you made to the previous scheduled payment. For example,
if you updated the payment priority on a particular scheduled payment and then changed the payment terms,
Payables would recalculate the scheduled payment using the same payment priority defaults as before and you
would need to redo your updates.
1. In the Payment Terms window, enter a unique Payment Term name and a description which will appear on a list
of values whenever you select payment terms.
For detailed information on any field.
If you are entering Day of Month terms, enter a Cutoff Day.
If you enable Automatic Interest, enter a unique value in the Rank field.
If you want to invalidate this payment term after a certain date, enter that date in the Effective Date/To field.
2. Enter each payment terms line.
Enter one of the following to determine the portion of an invoice due on the scheduled payment:
o % Due.
o Amount.
In the Due region, enter one of the following to determine the due date on the scheduled payment line:
o Fixed Date
o Days
o Day of Month, and Months Ahead.
3. If you are using discount terms, define payment terms lines in the First, Second, and Third Discount regions.
Define your discounts so that the first discount has an earlier discount date than the second and so on. You can
realize only one discount on a payment terms line.
Enter one of the following to determine the portion of the invoice to discount on the scheduled payment:
o % Discount.
o Amount.
In the Discount region, enter the discount percent.
Enter one of the following to determine the due date on the scheduled payment line:
o Due Days
o Day of Month, and Months Ahead.
4. Save your work.
Use Full Distribution Sets to create distributions with set percentage amounts, or use Skeleton Distribution Sets to
create distributions with no set distribution amounts. For example, a Full Distribution Set for a rent invoice assigns
70% of the invoice amount to the Sales facility expense account and 30% to the Administration facility expense
account. A Skeleton Distribution Set for the same invoice would create one distribution for the Sales facility expense
account and one distribution for the Administration facility expense account, leaving the amounts zero. You could
then enter amounts during invoice entry depending on variables such as that months headcount for each group.If
you enable and use a descriptive flexfield with your distribution set lines, the data in the flexfield will be copied to
the invoice distributions created by the Distribution Set.
Note: Taxable distributions created by distribution sets are always inclusive of tax when you use Automatic Tax
Calculation even if you have not checked the Includes Tax check box at the supplier site.
20. How will the Endures knows on a Particular Supplier How many prepayments have Describe?
The Invoice screen after selecting the Vendor Name
1. Enter employees, their locations, and their expense addresses in the Enter Person window.
2. Define the employee as a supplier using either of the following methods:
o Enable the Create Employee As Supplier Payables option to automatically create suppliers from employees when
you submit Payables Invoice Import
o Enter the employee as a supplier in the Suppliers window before submitting Payables Invoice Import for expense
reports.
3. Define expense report templates that model the different expense report formats you receive.
4. Enter expense reports.
5. Submit Payables Invoice Import to create invoices and invoice distributions for the expense reports. Review the
Invoice Import reports, then correct any expense reports that caused exceptions and resubmit Payables Invoice
Import.
6. Pay the invoices.
24. What are the 2 important points you should take, when You are raising a Expense Report of Invoice?
One is In the Vendor Screen You have to take Type is Employee,
The second one is In the Prepayment Invoice the settlement Date You should take care
30. How will you transfer The payable data to GL? What is the Interface Name?
Payables Transfers to GL, It is Feeder System Interface
31. Oracle Payables does not allow entry of invoices if the period status is ______
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