SetUp Values, Defaults & Controls Flow in AP :
Payables
Super User Menu(AP_Navigate_GUI12):
· SETUP OPTIONS
à Defining
Options (Financial & Payable):
· Financial Options:
Setup à Options à Financials
Account Payables .
1. Accounting:
Enter the number of future periods you use in
your set of books. Payables uses this value to limit the number of future
periods you can maintain in the Control Payables Periods window. You can enter
invoices in future periods
Enter
the default GL Accounts for all new suppliers you define. You can override this
value during supplier entry.
2. Supplier – Entry:
Enter
the options in this region will be used to control supplier entry and purchase
order matching.
3. Supplier – Payables:
Enter the options in this region, except for
Receipt Acceptance Days, are used as default values for the Payment region of
the Suppliers window. The supplier values default to new supplier sites for the
supplier, which default to new invoices for the supplier site. You can override
these values during entry of the supplier, supplier site, and invoice.
4. Supplier – Purchasing:
Enter the options in this region, except for
Inventory Organization, are used as default values for the Purchasing region of
the Suppliers window. Defaulting sequence and overriding concept is same as
above said.
5. Encumbrance:
To use encumbrance accountin, you must install
Payables, Purchasing, and General Ledger Use this region to enable encumbrance
accounting and to specify the default encumbrance types Payables assigns to
your invoices, and Purchasing assigns to your requisitions and purchase orders.
Oracle Financials provides two predefined encumbrance types that you can use to
identify requisition, purchase order, and invoice encumbrances: Commitment
and Obligation.
6. Tax:
Enter
the options in this region, are used as default tax codes, company region
details for the type of VAT, Recovery tax rate value, rounding rules and
minimum accountable tax amount for the tax calculation.
7. Human Resources:
Account Payables .
Enter
the options and defaults in this region for entering employee information in
the Enter Person window.
· Payable Options:
Setup à Options à Payables
1. Accounting Methods:
Accounting Methods. Method(s)
used to create accounting entries for your transactions in accordance
with cash basis, accrual basis, or both (combined basis) accounting methods.
Automatic
Offset Method. Enable
Automatic Offsets by selecting Balancing or Account as your Offset
Method if you want Payables to automatically create balancing accounting
entries for your invoice and payment transactions.
2. Transfer to GL:
Use this region to set defaults for submission
of the Payables Transfer to General Ledger Process. If you use Oracle General
Ledger you can also set defaults for submitting Invoice Import, which transfers
accounting lines to Oracle General Ledger.
3. Payment Accounting:
Account For Payment: Choose
when you want to create payment accounting entries. You can select one
or both options.
Payables creates the accounting entries,
depending on how the Account for Payment option is set. This accounting assumes
you use accrual basis accounting. You specify the GL accounts when you define
the payment document.
Account For Gain/Loss: Select
the time at which you will record currency gains or losses for foreign
currency payments. If you selected Account For Payment When Payment Clears
above, then the system enables the When Payment Clears option here and you
cannot update it.
The combination of Payables options you select
and your accounting method control which gain and loss accounting entries
Payables creates.
Calculate
Gain/Loss. Select the transaction level at which you
want to calculate foreign currency gains and losses.
Use Future Dated Payment Account. You
can define a future dated payment account at both the supplier site and
the payment document level. This option controls which account Payables will
use to create accounting entries for future dated payments.
4. Currency:
Set-up required values in this region if you
are entering invoices and making payments in a currency that different from
other than functional currency.
5. Supplier:
Use this region to enter defaults for the
Suppliers window. These values then default to the Supplier Site, and then to
the invoice. You can override these defaults at any time.
6. Invoice:
Use Batch Controls. Enable this option to enable
use of the Invoice Batches.
