Oracle AP Invoices

1.    Standard Invoice – Vendor Provides an Invoice for the goods or services delivered. We can enter this Invoice in the AP Module (Invoices > Entry > Invoices)

Invoice Level

1.    Header Level Info – Invoice Type, Vendor Name, Site Name, Invoice No, Invoice Date, Invoice Amount, Payment Term, GL Date, Distribution Set (Optional), Payment Methods

2.    Line Level Info – Break up of Invoice Amount with the Required Account Code or Distribution Sets. One Invoice can have Multiple Lines, Each Line can have multiple account codes followed by the Distribution Set. One Line can be associated with one DS and another line can be associated with another DS and another line can have directly the Account code

3.    Distribution Level – Invoice Break Up Amount and the Corresponding Account Codes

4.    The Invoice Amount should be equal at header level, line level and distribution level. All the Invoices should be associated with the required Account Codes equal to the Amount

5.    Invoice Process – Enter, Save and Validate and Create Accounting

6.    Validation – Manual Validation (Action Button – Validate) or System Validation – Invoice Validation Program

7.    Create Accounting – Only Validated Invoices are eligible for the Accounting Process

Ø Manual – Create Accounting

Draft –         Only Creates Accounting

Final –          Draft + Transfer to OGL

Final Post – Final + Posting in OGL Module

Distribution Account DR (Mostly Exp / Assets)

To Liability Account  CR

8.    Invoice with Multiple Payment Terms

9.    Invoice with Full DS, Skeleton DS and NO DS

10.           Invoice Cancellation – Action > Cancel Invoices – Create Accounting (Reverse the Original Account Invoice Accounts – Liability DR and Distribution Account CR)

11.           Inquiry Invoices – Invoice > Entry > Invoices (Find Button)

12.           Calculated Balanced Owned – To identify the Supplier Unpaid Balance Amount respective to each OU’s

Ø Debit Memo / Credit Memo – Used to Reduce the Supplier  Liability. Reason – Purchase Return, Discounts from Vendors, Excess Charged in Invoice

Ø Debit Memo – The Organization issue Debit Note to Vendor, we are creating a Debit Memo and Send the Same to Vendor

Ø Credit Memo – The Organization will Receive from Vendor

Ø For One Transaction either follow a DM or CM

Ø DM and CM accepts only Negative Value

Ø No Distribution Set should be attached if we can Matching to an Invoices. The Account will be defaulted from the Invoices. Mostly used for Purchase Return and price correction

Ø For Payment Discounts, create a DM or CM and enter the Account Code Manually – Not required to Match to an Invoice

Ø DM or CM should always follow Immediate Payment Terms

Ø Mixed – A Combination of Standard, Debit and Credit Memo Invoice

Ø Invoice Batches – Update the Profile: Use Invoice Batch Controls