Sunday, February 28, 2016

Create a Prepayment in Oracle Payables

Overview
You are required to pay $2,500, in advance, for a banquet your company is planning.  Your supplier has sent an invoice for the deposit.  Enter a prepayment type invoice to pay the deposit to your supplier.

Enter a Prepayment
Responsibility:  Payables, Vision Operations (USA)
1.    Navigate to the Invoices window
-        (N) Invoices > Entry > Invoices

2.    Enter your Prepayment invoice:
-        Type = Prepayment
-        Trading Partner = XXIBM Corporation
-        Site = SAN FRANCISCO
-        Invoice Date = Today’s Date
-        Invoice Num = PP11000
-        Invoice Amount = 2500
-        Description = Deposit for Sales/Customer Banquet
-        Prepayment Type = Temporary
-        Settlement Date = Today’s Date
-        Payment Method = Electronic

3.    Enter the Prepayment invoice line:
-        Type = Item
-        Amount = 2500
Note that the distribution line is automatically generated to the Prepayment account.

4.    Validate the Prepayment.
-        (B) Actions
-        Validate = Checked
-        (B) OK
Note that the status of your invoice is Unpaid.

5.    Pay the Prepayment.
-        (B) Actions:
-        Pay in Full = Checked
-        (B)OK.

6.    In the Payments window, enter the payment information.
-        Type = Quick
-        Bank Account = XXAP Disbursement
-        Payment Date = Today’s Date
-        Document = Electronic
-        Payment Process Profile = US NACHA Generic
-        Remit To Account = your Supplier Remit To Account

7.    Save your Work.

8.    Navigate to the Invoices window
-        (N) Invoices > Entry > Invoices

9.    Find the Prepayment Invoice.
-        (M) View > Find
-        Supplier Name = XXIBM Corporation
-        Invoice Type = Prepayment
-        (B) Find.

Note that Invoice Status = Available



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