what are the mandatory setups for payables

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WHATARETHEMANDATORY

SETUPSFORPAYABLESPosted by Raju ERP

Mandatory setups for Payables :

The following are the mandatory setups for payables.

1. Define Financial Options.

2. Define Payment terms.

3. Define Payment Methods.

4. Define Payment Formate.

5. Define Pay roup.

!. Define "upplier.

#. Define $an%s.

&. Define Distribution "ets 'Optional(.

1. Define Financial Options.

Use the Financials Options window to define the options and defaults that you use for your Oracle

Financial Applications!. "alues you enter in this window are shared by Oracle Payables# Oracle

Purchasing# and Oracle Assets. $ou can define defaults in this window to simplify supplier entry#

re%uisition entry# purchase order entry# in&oice entry# and automatic payments. 'epending on your

application# you may not be re%uired to enter all fields.

Although you only need to define these options and defaults once# you can update them at any time. (f

you change an option and it is used as a default &alue elsewhere in the system# it will only be used as a

default for subse%uent transactions. For e)ample# if you change the Payment Terms from (mmediate to

*et +,# *et +, will be used as a default for any new suppliers you enter# but the change will not affect the

Payment Terms of e)isting suppliers.

)a*i+ation: Payables ,,- "etup ,,- Options ,,- Financial.


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-lic on *ew button.

ccountin+ /ab:

$ou are re%uired to enter defaults for the Accounting Financials Options in the Accounting region.

ccounts 0i%e:

/iability# Prepayment# 'iscount Taen.
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"upplier,Purchasin+ /ab:

(f you do not also ha&e Oracle Purchasing installed# you do not need to enter defaults in the 0upplier1

Purchasing region.
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ncumbrance /ab:

(f you do not use encumbrance accounting or budgetary control# you do not need to enter

defaults in the Encumbrance region.
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/a /ab:

(f your enterprise does not need to record a "AT registration number# you don2t need to enter defaults in

the Ta) region.
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uman esources /ab:

(f you do not ha&e Oracle 3uman Resources installed# you are not re%uired to enter defaults in the 3uman

Resources region.
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2. Define Payment terms.

4e define payment terms that you can assign to an in&oice to automatically create scheduled payments

when you submit Payables (n&oice "alidation for the in&oice. $ou can define payment terms to create

multiple scheduled payment lines and multiple le&els of discounts. $ou can create an unlimited number of

payment terms.

Payment terms ha&e 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 following5

a specific day of a month# such as the 67th of the month

a specific date# for e)ample# 8arch 67# 9,,9

a number of days added to your terms date# such as 6: days after the terms date

a special calendar that specifies a due date for the period that includes the in&oice terms date.

Only due dates can be based on a special calendar. 'iscount dates cannot be based on a special

calendar.
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Each payment terms line also defines the due or discount amount on a scheduled payment. 4hen you

define payment terms# you specify payment amounts either by percentages or by fi)ed amounts.

)a*i+ation: Payables ,,- "etup ,,- n*oice ,,- Payment terms.

/o define payment terms

6. (n the Payment Terms window# enter a uni%ue payment term *ame and a 'escription. These will

appear on a list of &alues whene&er you select payment terms.

9. (f you enter 'ay of 8onth terms# enter a -ut1off 'ay.

+. (f you enable Automatic (nterest -alculation using the (nterest Payables Options# enter a uni%ue

&alue in the Ran field.

:. (f you want to mae this payment term in&alid on and after a certain date# enter that date in the To

field of the Effecti&e 'ates region.

7. Enter each payment terms line.

Enter one of the following to determine the portion of an in&oice due on the scheduled payment5

o ; 'ue

o Amount

(n the 'ue tab# enter one of the following to determine the due date on the scheduled payment line5

o -alendar

o Fi)ed 'ate

o 'ays

o 'ay of 8onth# and 8onths Ahead


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0a&e.

3. Define Payment Method:

A funds disbursement payment method is a medium by which the first party payer# or deploying company#

maes a payment to a third party payee# such as a supplier. $ou can use a payment method to pay one or

more suppliers. Oracle Payments supports se&eral payment methods for funds disbursement# including the

following5

-hec

Electronic

wire

-learing

6hec%:

$ou can pay with a manual payment# a >uic payment# or in a payment batch.
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lectornic:

Electronic An electronic funds transfer to the ban of a supplier.$ou create electronic payments either

through the e1 -ommerce ?ateway# or by deli&ering a payment batch file to your ban. For both methods#Payables creates a file during payment batch creation. (f you are using the e1-ommerce ?ateway to create

the file of payments# an E'( translator is re%uired to create the E'( Formatted file prior to deli&ering it to

your ban.For electronic funds transfers# the file is formatted and deli&ered to your ap.out directory for

deli&ery to your ban.

7ire:

4ire Funds transfer initiated be contacting the ban and re%uesting wire payment to the ban of a

suplier.A payment method where you pay in&oices outside of Payables by notifying your ban that you

want to debit your account and credit your supplier@s account with appropriate funds. $ou pro&ide your

ban with your supplier@s ban information# and your ban sends you confirmation of your transaction.

$our supplier@s ban sends your supplier confirmation of the payment. $ou then record the transaction

manually.

6learin+:

-learing Payment for in&oices transferred from another entity within the company without creating a

payment document.Payment method you use to account for intercompany e)penses when you do not

actually disburse funds through bans. $ou do not generate a payment document with the -learing

payment method. 4hen you enter the in&oice# you enter -learing for the payment method.$ou can record

a -learing payment using a 8anual type payment only.

)a*i+ation: Payables ,,- "etup ,,- Payment ,,- Payment dministrator.

6lic% on o /o /as%.


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-lic on -reate button.

Enter the Payment 8ethod name and code and then clic on *e)t.
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0elect the respecti&e responsibilities which we want shown this payment method in these responsibilities.

-lic on *e)t# *e)t# Finsh.
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what are the mandatory setups for payables

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