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ORACLE PAYABLES
1.What are the modules that are interfaced with Oracle payables?
General Ledger, Purchasing.
2. How does the financial information defaults in payables?
Financial Option > Payables > Supplier > Supplier Site > Invoice > Distribution and
Schedule of Payment.
3. What is a distribution set? What are the types of distribution set?
Distribution Set is to automatically distribute Invoice amount in to different GL
Account code Combination.
Type of Distribution Set
Full Distribution and Skeleton Distribution Set
Full Distribution means we know the exact percentage and exact account code
combination. The sum of the distribution percentages must equal 100 or 0.
Whereas in Skeleton we dont the percentage but we know the GL Account Code
Combination. So percentage should not be entered here.
4. What are the types of invoices used in payables?
Standard, Credit Memo, Debit Memo, Mixed, Prepayment, Expense Report,
Withholding Tax, PO Default, Quick Match.
5. What are the encumbrance options for AP? How are they used?
Requisition Encumbrance, and PO Encumbrance available in Financial Option.
Encumbrance used to reserve the Funds at the time of raising the Requisition or
creating of PO.
6. What are the different types of supplier sites?
Pay, Primary Pay, RFQ, Purchasing, Procurement Card.
7. What are the types of Accounting Methods?
Accrual, Cash.
8. What is Automatic Offset Methods?
Payables automatically create balancing accounting entries for your invoice and
payment transactions.
Three types of Offset Methods 1. None, 2.Balancing, 3. Account.
9. What is Pay Group?
Pay Group is to group invoices into supplier category for payments.
It groups the Invoices of the suppliers in the manner in which payment should be made.
Format Payment Programs
This program is used to know the layout of the payment documents and accordingly
format the payments.
Separate Remittance Programs
If the Payment Documents does not contain the Remittance advice, then we need to run
the Separate Remittance Programs other this will run along with Payment Documents.
32. What is difference between entering Invoices in Invoice Gateway and Invoice
Work Bench Window?
Invoice Workbench used for entering and maintaining more complex invoices for which
you require extensive online validation and online defaulting where as Invoice Gateway
used for your everyday entry of invoice records. Use this window for rapid, highvolume
entry of Standard and Credit Memo invoices that are not complex and do not require
extensive online validation or defaulting of values during entry.
When you use the Invoice Gateway, you enter invoice header and line information in the
same window, and can view only one record at a time. In the Invoice Workbench, you
enter invoice header information in the Invoices window, and the related invoice
distributions in the Distributions window. You can view multiple invoices at the same
time in the Invoices window.
In the Invoice Workbench we can enter and apply prepayments. In the Invoice Gateway
we cannot enter prepayments, but we can apply existing prepayments to invoices you
enter.
Invoice Hold. We can manually apply one or more Invoice Hold Reason Approvals
(holds) to an invoice using the Invoice Holds window of the Invoice Workbench.
Scheduled Payment Hold. We can hold payment on part of an invoice by placing one or
more of the scheduled payments on hold in the Scheduled Payments window of the
Invoice Workbench.
Supplier Hold. In the Supplier Sites window, we can enable the Hold All Payments,
Hold Unapproved Invoices, or Hold Unmatched Invoices options. We also have the
option of
Specifying an Invoice Amount Limit for a supplier site.
2Way. When you match to a purchase order or receipt, Payables Approval performs
these control checks:
1. Quantity billed <= Quantity ordered
2. Invoice price <= Purchase order price
2) Receipts Matching
1.
2.
Temporary and
Permanent.
Auto Install automatically installs these and other necessary Oracle Purchasing
application tables when you install Payables.
45. What are the pre-requisites for entering Payments?
The following are the pre-requisites:
1.
The invoice(s) we paid must be approved, unconcealed, validated,
without holds, and must have the same currency as the payment.
2.
The bank account must have at least one payment document that uses the
Recorded or Combined disbursement type.
46. What are the stages in Payment Batches?
Building. Payables are determining which invoices will be paid by each payment
document.
Built. Payables have determined which invoices will be paid with each payment
document. You can now review the Preliminary
Payment Register, Modify the Payment Batch, or Format the Payment Batch.
Cancelled. You have cancelled the payment batch.
Cancelling. Payables are cancelling the payment batch.
Confirmed. You have confirmed the payment batch.
Confirming. Payables is either confirming or partially confirming the payment batch
based on the action you selected in
The Confirm Payment Batch window.
Formatted. Payables has completed formatting your payments and has created the output
file that you can use to print checks or,
If you are making electronic payments, you can deliver the output file to the e
Commerce Gateway or your bank for processing.
Formatting. Payables has created the output file that you can use to print checks or, if
you are making EFT payments, you can
Deliver the output file to your bank for processing.
Modified. Payables have modified the payment batch based on the modifications you
made in the Modify Payment Batch window.
Modifying. Payables are modifying the payment batch based on the modifications you
made in the Modify Payment Batch window.
Rebuilding. You have modified a payment batch, and Payables is rebuilding the
modified payment batch.
Oracle Receivables
1. What are the two key flex fields in Oracle Receivables and what is its purpose?
Location Flex field: - Mandatory
This Flex field is used for calculating the Location based tax (i.e.) Sales tax.
Territory Flex field: (Max 20 segments) - Optional
This Flex field is used for tracking the location in which the sale is taking place.
This Flex field is for ascertaining the profitability of each of the sales location through
generating reports.
2. What are the modules that are interfaced with Oracle Receivables?
I. General Ledger
Ii. Order Management
iii. Fixed Asset
iv. Inventory
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Line First - Tax After: Apply to the open line item amount first.
Apply any remaining amount in the following order: tax, freight, and
then finance charges.
6. What is a flexible address format? How can a user-defined format be defined and
where will this be affected?
Oracle Applications let you enter customer, supplier, bank, check, and remitto addresses
in countryspecific formats. For example, if you have customers in Germany, you can
enter German addresses in the format recommended by the Budapest, or you can enter
addresses for customers in the United Kingdom in the format recommended by the Royal
Mail.
This is done by using descriptive flex fields to enter and display address information in
the appropriate formats. The flex field window opens if the country you enter has a
flexible address style assigned to it, which lets you enter an address in the layout
associated with that country. If there is no address style associated with the country,
Oracle Receivables uses the standard address format.
Attention: (Receivables users only) If you use a Sales Tax Location Flex field that
contains a segment other than country and wish to set up a flexible address format for
your home
Country, every component in your Sales Tax Location Flex field structure must also exist
in your flexible address style for that country.
7. What do you mean by Auto Accounting?
It helps the Receivables to determine the general ledger accounts for transactions that
are entered manually or import using Auto Invoice.
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Once rules have been associated with an invoice, Receivables creates the revenue
distributions for the invoice when you run
the Revenue Recognition
program for the period in which the rules fall.
35. What is the difference between Deposit and Guarantee Transactions?
Deposit: It is the pre-payments made by a customer that should be adjusted against
the future debit transactions that are raised with respect to these pre-payments.
Guarantee: It is a documentation of the promise made by the customer to obtain the
goods from the organization. This promise is documented as a guarantee. The
customer does not make payment for the guarantee.
36. What are the methods of creating credit transactions?
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Attention: You cannot create a debit memo reversal for a miscellaneous (noninvoice
related) receipt.
43. What are Cross Currency Receipts? How do you create them?
When your customer remits payment for an invoice, debit memo, or chargeback, the
receipt is usually in the same currency as the transaction. However, there may be times
when your customer remits payment in a currency that is different than the currency of
the open debit item. For these occasions, Receivables lets you create cross currency
receipt applications to let you fully or partially process the payment.
For example, you create Invoice 101 in Canadian dollars (CAD) but your customer sends
a receipt in Deutsche marks (DEM) as payment.
Using the remittance information provided by your customer, you can either fully or
partially apply this receipt to Invoice 101. Receivables automatically calculate the open
balance on the invoice (if any) and the foreign exchange gain or loss (FXGL) for this
application.
You can apply receipts to transactions using any currency defined in Oracle General
Ledger.
44. What are the setups related to Automatic Receipts?
Receivables automatic receipts feature to automatically generate receipts for customers
with whom you have predefined agreements. These agreements let you collect payments
on time by transferring funds from the customers bank account to yours on the receipt
maturity date. You can also manage your cash flow by deciding when, where, and how
much you should remit to your bank.
Creating automatic receipts involves three steps:
Create: Select the invoices to include in your automatic receipts.
Approve: Update, delete, and approve the receipts that you have selected.
Format: Format your automatic receipts onto paper to send to your customer for
confirmation or notification before remitting them to your bank on either paper or
magnetic media. This step is optional, as it depends upon the type of automatic receipt
you create.
45. What are the clearance methods in Receivables and how are they used?
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ORACLE GL QUESTIONS
Descriptive flex fields provide customizable expansion space on forms. We can use
descriptive flex fields to track additional information, important and unique to the
business that would not otherwise be captured by the form. A descriptive flex field
appears on a form as a singlecharacter, unnamed field enclosed in brackets. Each field
or segment in a descriptive flex field has a prompt, just like ordinary fields.
2. What is the key flex field name in GL?
Accounting Key flex field
3. What is segment? What are the maximum segments that can be there for GL?
A segment is a single subfield within a flex field. A segment is represented in database
as a single table column.
Maximum 30 Segments
4. How many Flex field Structures can you create for GL?
In Oracle General Ledger, we can have n no of flex fields structures.
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: Company
: Account
Segment Qualifiers:
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A unit of time, such as one week, two weeks, or a month, on which your accounting
calendar is based.
Period types
1. Month
2. Year
3. Quarter
4. Half yr
5. Half month
6. Week
14. What is an Accounting Calendar?
Accounting calendar is to specify the number of periods in the year for the purpose of
transaction and maintain accounting data
15. How do you open and close period in GL?
Navigate Open/close, in open/close window click open the next period push button to
open next period
To close the period choose close option from the open period love
16. Period status in GL:
Open: Journal entry and posting allowed.
Closed: Journal entry and posting not allowed until accounting period is reopened.
Reporting and inquiry allowed.
Permanently Closed: Journal entry and posting not allowed. It cannot be reopened.
Reporting and inquiry allowed.
Never Opened: Journal entry and posting are not allowed. This is the period proceeding
the first period ever opened in the calendar, or to any period that has been defined, but is
not yet futureenterable. We cannot change this period status.
Future Entry: Journal entry is allowed, but posting is not. The period is not yet open,
but falls within the range of future-enterable periods designated in the Set of Books
window. We cannot change this period status without using the concurrent process to
open the period.
17. Transaction calendar:
This is a calendar which determines which days in a week are business days and specifies
other non-business days, such as holidays.
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One set of books will have functional currency, when we want Multi-currency
accounting; we have set foreign currency in another set of books. Same company will
have two set of books, one for functional currency, and another foreign currency.
Setup step
1) Create a set of books with chart of account, calendar, and currency. (Currency other
than functional currency)
2) Go to the Multiple Reporting currencies tap, enable as Reporting set of books
3) Assign the reporting set of books to primary set of books; define conversion type, rate,
and application.
58. What are EMU currencies?
European Monetary Union currency
59. GCS and GIS setup steps
Consolidation Process
To consolidate your financial results in an orderly manner, the table below lists our
recommended consolidation steps. For detailed information on consolidating multiple
Oracle Applications and Non-Oracle Applications instances, carefully review the Global
Consolidation System.
Consolidation Step
Description
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Map Data:
Define how your subsidiaries
accounts map to the parent set of
books.
Gather Data:
Collect data from disparate systems
into the GCS application.
Transfer Data:
Transfer subsidiary financial
information to the consolidated
parent set of books.
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Analyze:
Review and analyze your
consolidated reports to assess the
effectiveness of your companys
global strategies.
GIS
Prerequisites
. Define your GIS subsidiaries.
. Define a responsibility for each of your GIS subsidiaries and have your system
administrator set the transaction security for each responsibility.
. Define transaction types.
. Define your subsidiaries intercom any clearing accounts.
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BP 040
BP 080
RD 020
MD 050
CRP-1
CRP-2
BR 100
BR 110
TE-40
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These are the reports we can generate while closing the AP and Reconcile with GL
1. Complete all the transaction in AP module (Standard Invoices, Prepayment Invoices,
Payments etc)
2. Run the *Invoice Validation* program for validating all the unvalidated invoices, if any.
3. Run and Review the *Invoice Hold Report* - Lists all invoices which are under hold, that
would prevent the payment/posting of the invoices
4. Run the *Create Accounting Process in the Final mode* - Report level should be
detailed
5. Clear/Reconcile all the payments in Cash Management and rerun the payable Create
accounting process
6. Run the *Transfer Journal Entries to GL* - program by selecting the ledger and the End
Date.
7. Post the journal in GL
8. Submit the Unaccounted Transactions Sweep Program. No need to run this program,
if you can close the period. This report will not sweep accounted transactions and
transactions with error to the next period
9. Navigate to Accounting > Control Payable Periods and select the first open period and
change the status to Closed. If any pending transactions exist for the specific period
(Validation, Create Accounting Process etc),
system will prompt that Exceptions exit, you cannot close the period.
10. Click on the Exception Button and click on Review. System will trigger a report "Period
Close Exceptions Report". Review the report and take action. Take action based on the
exception report
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Run the Accounts Payable Trial Balance Report - This report will list only those
invoices/payments which has already been transferred to GL (posted and un posted) This
report is used to facilitate reconciliation of the total accounts payable liabilities in Oracle
Payables, with the Oracle General Ledger Creditors Control Account, for a specific
accounting period. These invoices represent the outstanding accounts payable liability for
the organization.
To obtain the most up-to-date trial balance for a given period, journal entries should be
posted for the invoice and payment activity for the period, prior to running the report.
To the previous periods Accounts Payables Trial Balance, add the current period's
posted invoices (total amount from the Posted Invoices Register) and subtract the
current period's posted payments (total cash plus discounts taken, from the Posted
Payments Register) . The calculated amount should equal the balance for the current
period's Accounts Payables Trial Balance.
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AR to GL Reconciliation Report
The AR to GL Reconciliation report compares the account
balances in Oracle Receivables to those in Oracle General
Ledger, and highlights journal sources where discrepancies
might exist. This report simplifies the reconciliation process by
comparing Receivables and General Ledger account balances in
a single place.
Run the AR to GL Reconciliation report:
1.
2.
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3.
MOAC is a new feature in Oracle R-12.MOAC is a feature which facilitates the user
to access Multiple Operating Units from a single responsibility with in a Business
group or across the Business Groups.
In order to Setup MOAC SECURITY PROFILES are to be defined in HRMS
Responsibility.There are two types of Profiles.They are : (1) LOCAL PROFILE
(2) GLOBAL PROFILE
LOCAL PROFILE-With this security profile the USER can access to Multiple
Operating Units with in the BUSINESS GROUPS.
GLOBAL PROFILE-With this profile the User Can access to multiple Operating Units
from different Business Groups.
Switch to SYSTEM ADMINISTRATOR and set Profile options for all the
responsibilities which are performed at Operating Unit level... i.e Order
Management,Receivables,Purchasing and Payables etc..
Navigation:SYSTEM ADMINISTRATOR-PROFILE_SYSTEM
select responsibility and in Value mention MO%SEC%
set LOCAL or GLOBAL SECURITY PROFILE depending on the requirement
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profile option values control the oracle apps. in other wards they determine how the
oracle apps should run. the value of profile option can change at any time.
two types.
1)system profile options
2)user profile options.
profile options can define in following ways .
1)site
2)application
3)responsibility
4)userThe profile option can be set at below 4 levels
User has the highest precedence over responsibility, application and site.
What is Payment Process Profile? and What is use of Payment process profile
payment process profile says, how you are going to process your payment, whether
through check or electronic.
Account receivable (ar)
Transactions-transactions : Bill to ( customer not displayed). Value entered is not valid
current field. Please re enter ? Customer is already created.
The Possible Reason is Business Purpose 'Bill-To' not enabled for this customer
site.
Assumption: Customer is already having Site.
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Following are some of the factors which can be considered. 1. Current Chart of
Accounts structure of the Organization (legacy). 2.Reporting requirement (For ex:
Product based profitability or reporting) 3. Inter-company Accounting 4. Legal
Requirements 5.Type of Industry for example some project based organizations use
a segment to get project based accounting.
Depending on your organization structure and reporting requirements it would
change. You can create up to 30 segments. Most organization use between 5-10
segments. But one factor you need to consider before finalizing chart of accounts is
future changes to the structure is difficult and not recommended.
what is receipt source and receipt class
Receipt source and receipt class are using in Oracle Receivables.
Receipt souce: setting numbers for the receipts.
Receipt Class : Here we hav to maintain like payment methods, accounting
information and remittance and customer payments informaton.
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