Oracle App - AP Interview Qs

6/23/2016 Oracle Applications: Oracle Account payables interview Qs
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FRIDAY, FEBRUARY 22, 2013
Oracle Account payables interview Qs
Q/A Details
Question How many types of Invoices we can create in Oracle Payables?
Answer A. Standard
B. Debit Memo
C. Credit Memo
D. PrePayment
E. Expense Report
F. Withholding Tax Invoice
G. Miscellaneous Invoice
Question Describe the 4Way Matching?
Answer 2 – Way Matching: The Invoice Amount Should match with PO, (Invoice with PO)
3 – Way Matching: The Receipts Should match with Invoice, (Invoice, PO with
Receipts)
4 – Way Match: The Goods Should match with Inspection/Accepted (Invoice, PO,
Inspections & Receipts)
Question How many Holds we have?
Answer System Hold and Manual Hold. Payables lets you apply holds manually on an
invoice, Payments etc to prevent the payment from being made or to prevent the
accounting entries to be created etc. Some of the Payable holds are Invoice Hold,
Accounts Hold, Funds Hold, Matching Hold, Variance Hold, Misc hold.
Question Can you Release Manual Holds? If Yes, How?
Answer Yes. Holds – Release Holds
Question How many ways you can pay the Invoice Amount?
Answer Apply in Full
Schedule Payments
Installments
Question What is the difference between Debit and Credit Memo?
Answer Debit Memo will raise the Customer
Credit Memo will raise the Vendor
Question Can you create a Duplicate Vendor ?
Answer No
Question Vendor Number Should be Generate Automatic or Manually?
Answer Both, Manual And Automatic
Question How many key flexfields are there in Payables?
Answer No key flexfields in PO,AP
Question What are Payment Terms?
Answer Payables uses payment terms to automatically calculate due dates, discount dates,
and discount amounts for each invoice you enter. Payment terms will default from
the supplier site. If you need to change the payment terms and the terms you want
to use are not on the list of values, you can define additional terms in the Payment
Terms window.
Question What are the Payment Methods available?
Answer • Check – You can pay with a manual payment, a Quick payment, or in a payment
batch.
• Clearing – Used for recording invoice payments to internal suppliers.
• Electronic – You generate an electronic payment file that you deliver to your bank
to create payments. Use Electronic if the invoice will be paid using EFT or EDI.
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• Wire – Used to manually record a wire transfer of funds between your bank and
your supplier’s bank.
Question What are the line types of an Invoice?
Answer Item: Item lines capture the details of the goods and services billed on your invoice.
Freight: Freight lines capture the details of your freight charges.
Miscellaneous: Miscellaneous lines capture the details of other charges on your
invoices such as installation or service.
Tax: Payables integrates with Oracle EBusiness Tax to automatically determine and
calculate the applicable tax lines for your invoices.
Question What are the Invoice Distribution Types?
Answer Item
Freight
Miscellaneous
Tax
Withholding
Prepayment
Question What are Holds in AP?
Answer Holds can be placed by the system and some holds can be placed manually. Holds
prevent payment and, sometimes, accounting of an invoice. Payables applies holds
to invoices that fail the Invoice Validation process. Release holds from invoices to
allow payment and accounting entry creation for the invoices.
Question What are the Interface Tables in AP?
Answer AP_INVOICES_INTERFACE
AP_INVOICE_LINES_INTERFACE
AP_INTERFACE_CONTROLS
————————————–
AP_SUPPLIERS_INT
AP_SUPPLIER_SITES_INT
AP_SUP_SITE_CONTACT_INT
AP_SUPPLIER_INT_REJECTIONS
Question What is the API to cancel single AP Invoice?
Answer AP_CANCEL_PKG.AP_CANCEL_SINGLE_INVOICE
Question What is the API to find invoice status?
Answer AP_INVOICES_PKG.GET_APPROVAL_STATUS
Question Give some of the Oracle Payables interface?
Answer a) Credit Card Transaction Interface
b) Invoice Import Interface
c) Payables Open Interface
d) Purchase Order Matching
Question What are the key tables where supplier bank information are stored?
Answer IBY_EXTERNAL_PAYEES_ALL
IBY_EXTERNAL_PAYERS_ALL
IBY_EXT_BANK_ACCOUNTS
IBY_PMT_INSTR_USES_ALL
Question What is meant by withholding tax invoice?
Answer A separate tax invoice generated for withholding tax amount. Later this invoice will
be knocked of when making the payment made to the authority.
Question What are all the Modules Interacting with AP?
Answer Cash Management
Oracle iExpenses
General Ledger
Oracle Assets
Subledger Accounting (R12)
HRMS
Project Accounting
Purchasing/iprocurement
Global Accounting Engine (11i)
Question What are the mandatory setups in AP?
Answer 1 Financial Options
2 Define Suppliers
3 Define Payment Terms
4 Define Payment Methods
5 Define Banks and Banks Accounts And Banks Accounts Documents
6 Open AP Accounts Periods
Question What is pay date basis?
Answer The Pay Date Basis for a supplier determines the pay date for a supplier’s invoices.
• Due
• Discount
Question What is the difference between quick payment and manual payment?
Answer Quick Payment: It allows you to make a single payment against one or more
invoices at a time to one supplier through payables.
Manual Payment: This is the process of entering the check details which has been
paid manually in some emergency requirements into the payment form and
selecting the invoices of the concerned supplier and check whether the total of the
invoices and the paid amount at the header are same and save.
Question What is terms date basis?
Answer Terms Date Basis is to calculate due date.
Due date is calculated 4way. Eg: payment term is 30days
Due date = Sysdate + 30days
Due date = Invoice date + 30days
Due date = Goods Receive Date + 30days
Due date = Invoice Received date + 30days
Question What are Aging Periods?
Answer Aging periods are nothing but the periods that we setup to control and maintain the
supplier outstanding bill towards the invoice. From this we can able to study the
due date of the supplier form the generation of invoice.
Question Types of Invoices
Answer 1. Standard Invoices: Standard invoices are the invoices issued by a supplier to the
buyer, representing the amount due for the products or services the supplier has
provided to the buyer.
Standard invoices can be either matched to a purchase order or not matched.
A standard invoice must be positive amount.
2. Mixed Invoices: Mixed invoices are the invoices which can have either positive or
negative amounts and can be matched to both purchase orders and invoices.
For example, if there is a mixed invoice for $1000, you can either match it to an
invoice with $1000 or to a purchase order with an amount $1000.
3. Credit Memo: Credit memo is an invoice raised by the supplier to the buyer with
negative amount. It reduces the supplier balance and reduces the liability.
For example the customer has returned some of the goods that he purchased, the
supplier sends a credit memo to the buyer to adjust the balance.
4. Debit Memo: Debit memo is an invoice raised by the customer to supplier with
negative amount.
The functionality of Debit Memo is same as Credit Memo. Both are to reduce the
liability.
The purpose of Debit Memos is to record a credit for a supplier who does not send
you a credit memo.
Unlike in AR, both Credit memo and Debit memo are with negative signs in
Payables.
5. Prepayment: Prepayments are the invoices raised to record advance payments to
a supplier or employee.
6. Expense Reports: Expense reports are the invoices that represent amount due to
an employee for all his business related expenses.
7. Retainage Release Invoices: Retainage release is the act of releasing, or paying,
that portion of a payment that was withheld until a substantial portion or all of the
service procurement work is completed. The amounts retained during the life of the
contract must be released and paid to the supplier or subcontractor once all or a
substantial portion of the work is completed.
Oracle Payables uses the Retainage Release Request to create a type of invoice
called Retainage Release. A retainage release invoice has lines, which are copied
from the original standard progress invoices, which show an amount left to be
released.
Retainage release invoices can only be entered manually in the Invoice Workbench
window.
8. Withholding Tax: After you apply withholding tax to an invoice, you can
optionally create invoices to remit withheld tax to the tax authority.

Payables can automatically create withholding tax invoices, or you can perform this
task manually. If you choose to automatically create withholding tax invoices, you
must choose whether to do this during Invoice Validation or during payment
processing.
9. PO Price Adjustment Invoices: PO Price Adjustment Invoices are used for
recording the difference in price between the original invoice and the new purchase
order price.
For example, If a supplier sends an invoice for a change in unit price for an invoice
you have matched to a purchase order, PO Price Adjustment Invoices can be used
to adjust the invoiced unit price of previously matched purchase order shipments or
distributions without adjusting the quantity billed.
PO price adjustment invoices can be matched to both purchase orders and
invoices.
10. Quick invoices: Used for quick, highvolume invoice entry for invoices that do
not require extensive validation and defaults. After entry, you import these into the
Payables system. Validation and defaulting occur during import
Question What is the process/steps for Vendor Conversion?
Answer Insert the Vendor info into the interface tables and perform the required validations:
AP_SUPPLIERS_INT
Run the below programs to load the data into the Base tables:
Supplier Open Interface Import
Supplier Sites Open Interface Import
Supplier Site Contacts Open Interface Import
Question Explain the set up used for Automatic or Manual Supplier Numbering.
Answer In the Financials Options window, you can set the Supplier Number entry option to
either Autimoatic or Manual • Automatic: The system automatically assigns a
unique sequential number to each supplier when you enter a new supplier. •
Manual: You enter the supplier number when you enter a supplier
Question What is Contract PO?
Answer Contract PO is created when you agree with your suppliers on specific terms and
conditions without indicating the goods and services that you will be purchasing.
Question What is a Payable Document?
Answer A medium you use to instruct your bank to disburse funds from your bank account
to the bank account or site location of a supplier.
Question In which table we can find the vendor number?
Answer PO_VENDORS
Question Give the cycle from creating an invoice to transferring it to GL in AP.
Answer )Create Invoice 2)Validate Invoice 3)Create Accounting entries using Payables
Accounting Process 4)Submit the Payables Transfer to General Ledger program to
send invoice and payment accounting entries to the General Ledger interface.
4)Journal Import (GL) 5)Journal Post (GL)
Question What are the Prepayment types?
Answer Temporary and Permanent
Question What is Aging Periods?
Answer Aging Periods window are the time periods for the Invoice Aging Report. The
Invoice Aging Report provides information about invoice payments due during the
periods you specify.
Question Whats the difference between the "Payables Open Interface Import" Program and the
"Payables Invoice Import" program?
Answer Payables Open Interface for importing regular invoices Payables Invoice Import
for importing expense reports. In 11i renamed as Expense Report Import. In R12
renamed as Expense Report Export.
Question What is prepayment & steps to apply it to an Invoice?
Answer Prepayment is a type of invoice that you enter to make an advance payment to a
supplier or employee.
To Apply it to an Invoice ,in the Invoices window, query either the prepayment or
the invoice to which you want to apply it. Choose the Actions button and select the
Apply/Unapply Prepayment check box. Click OK.
Question Can you hold the partial payment if yes then how?
Answer Yes.
1.Go to the Invoice window. Go to the scheduled payments tab.
2.Click "Split" to split the scheduled payment into as many
payments as you wish.
3.Check "Hold" against the Payment line you wish to hold.
Question What program is used to transfer AP transactions to GL?
Answer In 11i "Payables Transfer to General Ledger" Program. In R12 "Transfer Journal
Entries to GL" Program.
Question What is use of AP Accounting Periods?
Answer In Payables accounting periods have to be defined to enter and account for
transactions in these open periods. Payables does not allow transaction processing
in a period that has never been opened. These periods are restricted to Payables
only. The period statuses available in Payables are Never Opened, Future,Open,
Closed, and Permanently Closed.
Question What are the different interface programs in AP?
Answer Payables Open Interface Import to load Invoices and other transactions.
Supplier Open Interface Import to load Suppliers.
Supplier Sites Open Interface Import to load Supplier sites.
Supplier Site Contacts Open Interface Import to load Supplier Site contacts.
Question What is Invoice Tolerance?
Answer We can define the matching and tax tolerances i.e how much to allow for variances
between invoice, purchase order, receipt, and tax information during matching. You
can define both percentage–based and amount–based tolerances.
Question What will accrue in Payables?
Answer Expenses and Liabilities
Question Which module is the owner of Vendor/Supplier tables?
Answer PO
Question In AP the suppliers didn’t visible in India Creditors Ledger Report Parameter?
Answer Please check whether that particular supplier is available in Suppliers addition
inforamtion or not.
Question 1. Describe the Payment Terms and Discounts?
Answer In the Payment Terms window, you define payment terms that you can assign to an
invoice to automatically create scheduled payments when you submit Approval for
the invoice. You can define payment terms to create multiple scheduled payment
lines and multiple levels of discounts. You can create an unlimited number of
payment terms.
Payment terms have 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 following:
o a specific day of a month, such as the 15th of the month
o a specific date, for example, March 15, 2002.
o a number of days added to your terms date, such as 14 days after the terms date
o a special calendar that specifies a due date for the period that includes the invoice
terms date. Only due dates can be based on a special calendar. Discount dates
cannot be based on a special calendar.
Each payment terms line also defines the due or discount amount on a scheduled
payment. When you define payment terms you specify payment amounts either by
percentages or by fixed amounts.After you define your payment terms, in the
Payables Options window you can select default payment terms that Payables
automatically assigns to the suppliers and supplier sites you enter. The payment
terms for a supplier site default to the invoices you enter for the site.The Payment
Terms Which tells us The Installments of a Purchased Goods Are Services. And the
Discount is it will depends upon the Discount dates.
Question A Vendor must compulsory have what?
Answer Primary Address
Question Is there any chance to create Vendor only once? If Where should you create?
Answer Yes, Enable the check box in the Vendor Classification Screen
Question Can you cancel an Invoice? How?
Answer Yes, Actions1 – Cancel Invoice
Question How can you match PO with Invoice? What you should not take in the Invoice?
Answer Match/Po Number,Distribution Set should not be taken care at this point. When you
enter an invoice and match it to a purchase order, Payables automatically creates
distributions for you and checks that your match is within the tolerance you define.
After you save the match, Payables updates the quantity billed for each matched
shipment and its corresponding distribution(s) by the amount you enter in the
Quantity Invoiced field. Payables also updates the amount billed on the purchase
order distribution(s).
Question What you should take care When you Match Debit/Credit Memo with an Invoice?
Answer The Invoice Should match with Po. When you enter a credit/debit memo, you can
match it to existing invoice(s) to have Payables automatically copy the accounting
information and create invoice distributions for the credit/debit memo. You can
match the credit memo to multiple invoices, and at different levels of detail. Your
available choices depend on whether the originating invoice was matched to a
purchase order or not.
For example, if you receive a credit for items you returned to a supplier, you can
enter a credit memo and match it to the original invoice you entered to ensure that
the credit memo distributes the credit to the same accounts originally charged.
If the original invoice is not purchase order matched (basic invoice), you can:
o Match to an invoice. Payables prorates your credit amount based on the invoice
distribution amounts of the original invoice. Payables automatically creates invoice
distributions for the credit/debit memo based on the distributions of the original
invoice.
o Match to specific invoice distributions. You can allocate the credit amount to
specific invoice distributions of the original invoice. Payables automatically creates
invoice distributions for the credit/debit memo based on the original invoice
distribution that you select. For example, you may order three chairs for three
different departments and return one. You can match a credit/debit invoice to the
original distribution for that department to ensure that the credit matches the
charge.
If the original invoice is purchase order matched, you can:
o Match to specific invoice distributions. You can allocate the credit amount to
specific invoice distributions of the original invoice. Payables automatically creates
invoice distributions for the credit/debit memo based on the original invoice
distributions that you select.
Payables updates the quantity billed for each of the originally matched purchase
order shipments and their corresponding distributions by the credit quantity you
enter. Payables also updates the amount billed on the purchase order distributions.
o Match to purchase order shipments. Payables prorates, based on the quantity
billed, your credit amount across all purchase order distributions associated with
the purchase order shipment to which you match the credit/debit memo. Payables
automatically creates invoice distributions for the credit/debit memo based on the
purchase order distributions associated with the purchase order shipment you
match to.
Payables updates the quantity billed for each purchase order shipment and its
corresponding distributions by the amount of the credit/debit memo. Payables also
updates the amount billed on the originally matched purchase order distributions.
o Record a Price Correction. Use a price correction when a supplier sends an
invoice for a change in unit price for an invoice you have matched to a purchase
order. You can record a price correction by checking Price Correction when you
match a credit/debit memo to a purchase order shipment or purchase order
matched invoice distribution. When you record a price correction for a credit/debit
memo, you are recording a price decrease from the original invoice.
Payables updates the invoiced unit price of previously matched purchase order
shipment or distributions without adjusting the quantity billed so you can track
price variances; Payables also updates the amount billed on the originally matched
purchase order distributions.
To match a credit /debit memo to an invoice, invoice distribution, or a purchase
order shipment:
1. Enter a Credit Memo or Debit Memo type invoice.
Enter a negative invoice amount and all basic invoice information but do not
manually enter the distributions.
2. Choose the Match button. In the Find Invoices to Match window, query the
invoices you want to match and choose Find. If the credit/debit memo pertains to an
invoice matched to a certain purchase order, query by purchase order number to
see all invoices matched to that purchase order. Payables navigates to the Match to
Invoice window.
Optionally choose the Invoice Overview button to review more information about an
invoice.
3. Create invoice distributions by matching to one or more invoices. If you are
matching to a nonpurchase order matched (basic) invoice, select the invoice and
enter a Credit Amount.
If you want to match in further detail, continue the match at the invoice distribution
or purchase order shipment level:
o To match to invoice distributions, choose Distribute. For each invoice distribution
you want to match to, select the distribution and enter a Credit Amount.
o To match to purchase order shipments, choose Match PO. For each shipment you
want to match to, select the shipment and enter either a Quantity Invoiced or Match
Amount. Payables automatically calculates the remaining field (Quantity Invoiced x
Unit Price = Match Amount). You can optionally change the Unit Price, which
defaults from the purchase order.
4. Choose Match to create invoice distributions for the credit/debit memo based on
the matches you made.
To review the new invoice distributions, choose the Distributions button from the
Invoices Summary.
Question How Will you group a similar type of Items?
Answer Items List
Question How many Payment Types U have?
Answer Quick, Manual, Refund – for refunding an amt Refund, Manual, Quick, Automatic
Payment
Question How will the system calculate the Discount?
Answer Discount date. Invoice payments terms where we have to define the discount rates &
dates 1st discount, 2nd discount & 3rd discount
In the Payment Terms window, you define payment terms that you can assign to an
invoice to automatically create scheduled payments when you submit Approval for
the invoice. You can define payment terms to create multiple scheduled payment
lines and multiple levels of discounts. You can create an unlimited number of
payment terms.
Payment terms have 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 either a specific day of a
month, such as the 15th of the month, or a number of days added to your terms
date, such as 14 days after the terms date.
Each payment terms line also defines the due or discount amount on a scheduled
payment. When you define Payment Terms you specify payment amounts either by
percentages or by fixed amounts. Payables provides a predefined, unalterable
payment term, called Prepayment Immediate, which Payables automatically assigns
to all prepayments you enter. After you define your payment terms, you can select
default system payment terms that Payables automatically assigns to the suppliers
and supplier sites you enter. The payment terms for a supplier site default to the
invoices you enter for the site.
Attention: If you update the payment terms on an invoice, Payables recalculates the
scheduled payment for the invoice. Thus, you must reenter any manual adjustments
you made to the previous scheduled payment. For example, if you updated the
payment priority on a particular scheduled payment and then changed the payment
terms, Payables would recalculate the scheduled payment using the same payment
priority defaults as before and you would need to redo your updates.
To define payment terms:
1. In the Payment Terms window, enter a unique Payment Term name and a
description which will appear on a list of values whenever you select payment
terms.
For detailed information on any field.
If you are entering Day of Month terms, enter a Cutoff Day.
If you enable Automatic Interest, enter a unique value in the Rank field.
If you want to invalidate this payment term after a certain date, enter that date in the
Effective Date/To field.
2. Enter each payment terms line.
Enter one of the following to determine the portion of an invoice due on the
scheduled payment:
o % Due.
o Amount.
In the Due region, enter one of the following to determine the due date on the
scheduled payment line:
o Fixed Date
o Days
o Day of Month, and Months Ahead.
3. If you are using discount terms, define payment terms lines in the First, Second,
and Third Discount regions. Define your discounts so that the first discount has an
earlier discount date than the second and so on. You can realize only one discount
on a payment terms line.
Enter one of the following to determine the portion of the invoice to discount on the
scheduled payment:
o % Discount.
o Amount.
In the Discount region, enter the discount percent.
Enter one of the following to determine the due date on the scheduled payment line:
o Due Days
o Day of Month, and Months Ahead.
4. Save your work.
Question What is a Distribution Set?
Answer The Components of the Invoice like COGS, Freight, Tax…
You can use a Distribution Set to automatically enter distributions for an invoice
when you are not matching it to a purchase order. For example, you can create for
an advertising supplier a Distribution Set that allocates advertising expense on an
invoice to four advertising departments. You can assign a default Distribution Set to
a supplier site so Payables will use it for every invoice you enter for that supplier
site. If you do not assign a default Distribution Set to a supplier site, you can always
assign a Distribution Set to an invoice when you enter it.
Use Full Distribution Sets to create distributions with set percentage amounts, or
use Skeleton Distribution Sets to create distributions with no set distribution
amounts. For example, a Full Distribution Set for a rent invoice assigns 70% of the
invoice amount to the Sales facility expense account and 30% to the Administration
facility expense account. A Skeleton Distribution Set for the same invoice would
create one distribution for the Sales facility expense account and one distribution
for the Administration facility expense account, leaving the amounts zero. You
could then enter amounts during invoice entry depending on variables such as that
month’s headcount for each group.If you enable and use a descriptive flexfield with
your distribution set lines, the data in the flexfield will be copied to the invoice
distributions created by the Distribution Set.
Note: Taxable distributions created by distribution sets are always inclusive of tax
when you use Automatic Tax Calculation even if you have not checked the Includes
Tax check box at the supplier site.
Creating Distribution Sets
To create a Full Distribution Set:
1. In the Distribution Sets window, enter the Name and Description of the
Distribution Set you are creating.
2. Enter the Account and Description for each distribution and enter the Percentage
of the invoice amount that you want to distribute to the Account. You can enter
positive and negative percentages. Create as many distributions as you need. The
sum of the distribution percentages must equal 100 or 0.
If you are creating a Distribution Set for a federally reportable supplier, optionally
enter an Income Tax Type.
Optionally enter an Invoice Tax Code. The Tax Code will default based on the Tax
Code Defaults hierarchy you defined in the Payables Options window. If the source
Payables uses is Template, then Payables uses the value from the Distribution Set,
even if the value is null.
3. Save your work. Payables automatically assigns type Full to your Distribution
Set.
To create a Skeleton Distribution Set:
1. In the Distribution Sets window enter the Name and Description of the
Distribution Set you are creating.
Attention: If you create a skeleton Distribution Set, include skeleton in the name to
remind you to enter the line amounts.
2. Enter the Account and Description for each distribution and leave the Percentage
at zero. Create as many distributions as you need.
If you are creating a Distribution Set for a federally reportable supplier, optionally
enter an Income Tax Type.
3. Save your work. Payables automatically assigns type Skeleton to your
Distribution Set.
Question What is a Prepayment? Describe? How many we have?
Answer Pay a prepayment just as you would any other invoice. However, you cannot
partially pay a prepayment; you must fully pay it. You must fully pay a prepayment
before you can apply the prepayment to an invoice. You can enter a Prepayment
type invoice only in the Invoices window. You cannot enter a Prepayment type
invoice in the Invoice Gateway The Advance Amount, Vendor, Employee
Select a Prepayment Type:
o Temporary. You can apply this prepayment to invoices after you approve and pay
it.
o Permanent. You cannot apply this prepayment to invoices.
Question How will the Endures knows on a Particular Supplier How many prepayments have
Describe?
Answer The Invoice screen after selecting the Vendor Name
Question How will you apply the Prepayment?
Answer Actions1 – Apply / Unapply Prepayment
Question Can you pay unapproved Invoice Amount, if yes How?
Answer No, You have to Approve it then only U can Pay
Question What is Expense Report? and Template?
Answer The Template is the Expense Items on an Employee, the Expense Report gives the
Anticipated Expenses of an Employee in Your Organization.Use the Expense
Reports window in Payables to enter expense reports for your employees. You can
also use this window to review and modify expense reports that you entered in the
Expense Reports window, that your organization’s employees entered in Oracle
Web Employees, or that you have transferred from Projects. You can apply
advances to expense reports to reduce the amount you pay. You can also apply a
hold to an expense report to prevent payment. Before you can pay expense reports
you must submit the Payables Invoice Import program to have Payables
automatically create invoices from the expense reports. You can then create journal
entries for posting to your general ledger.
The following are the steps you follow to process an expense report:
1. Enter employees, their locations, and their expense addresses in the Enter
Person window.
2. Define the employee as a supplier using either of the following methods:
o Enable the Create Employee As Supplier Payables option to automatically create
suppliers from employees when you submit Payables Invoice Import
o Enter the employee as a supplier in the Suppliers window before submitting
Payables Invoice Import for expense reports.
3. Define expense report templates that model the different expense report formats
you receive.
4. Enter expense reports.
5. Submit Payables Invoice Import to create invoices and invoice distributions for
the expense reports. Review the Invoice Import reports, then correct any expense
reports that caused exceptions and resubmit Payables Invoice Import.
6. Pay the invoices.
Question What are the 2 important points you should take, when You are raising a Expense
Report of Invoice?
Answer One is In the Vendor Screen You have to take Type is “Employee”,
The second one is In the Prepayment Invoice the settlement Date You should take
care
Question Can U allow Zero Payments? If yes, How?
Answer Yes, if you enabled the Allow Zero Payments Check box in the Bank Screen the
Payments Options
Question Can U pay Debit & Credit Memos Amount?
Answer No
Question Can U Enter Backdated Recurring Invoices? If how?
Answer No
Question What is the Prerequisite for Recurring Invoices?
Answer Special Calendar
Question How many sites exists for payment of invoices to employees?
Answer Home, Office
Question How will you transfer The payable data to GL? What is the Interface Name?
Answer Payables Transfers to GL, It is Feeder System Interface
Question Oracle Payables does not allow entry of invoices if the period status is
Answer CLOSED
Question How to Adjust Average Cost with Invoice Price Variances (IPV)
Answer If you want to get your inventory cost, and ultimately your cost of goods, to reflect
the actual cost you paid for your items, then you will want to interface the Invoice
Price Variance (IPV) from Oracle Payables to Oracle Inventory/Cost Management.
The ability to perform this update of inventory cost is only for inventory
organizations using the average cost costing method. To understand this process,
let’s look at the flow of cost from PO receipt to Transfer of Invoice Variances. Here’s
an overview of each step:
1. Create and approve a PO
2. Receive the item
3. Enter and match an AP invoice (release any holds if necessary)
4. Generate accounting for the AP invoice
5. Transfer invoice variances to Inventory
Step 2 in the process (PO receipt) sets the initial average cost. This cost will be
used on all issues or shipments out of inventory. Remember in average costing, we
receive at PO price and issue out at average.
Once steps 3 (enter and match an AP invoice) and 4 (generate accounting) are
complete, we are ready to run the Transfer Invoice Variance to Inventory program.
You can run the program from Cost Management for one inventory organization at a
time. This program will sum the difference between the invoice price and the PO
price for each item/organization combination and then create an average cost
update transaction. This transaction will have an amount but not a quantity. This
amount is then applied to the remaining inventory onhand. So let’s look at a
couple of examples and how your average cost will change.
Example 1:
* PO Price $10
* Receipt Quantity 100
* Invoice Price $12
* OnHand 100
* Beginning Average Cost $10
* Ending Average Cost $12
In this example, we will apply the IPV of $2 to all 100 units in inventory. So the
average cost before the IPV transfer is $10 and the average cost after the IPV transfer
is $12. This would correctly value our inventory at actual cost.
Example 2:
* PO Price $10
* Invoice Price $12
* OnHand 10 (sold 90 units)
* Ending Average Cost $30 (($200/10) + $10 = $30
In this example, we will apply the IPV of $2 to remaining 20 units in inventory. So
the average cost before the IPV transfer is $10 and the average cost after the IPV
transfer is $30. This would result in lower margins the next time we sell and ship
this item.
Example 3:
* PO Price $10
* Invoice Price $12
* OnHand 0 (sold 100 units)
* Ending Average Cost $10
In this example, we wouldn’t apply the IPV of $2 because the onhand quantity is
zero. So the average cost before the IPV transfer is $10 and the average cost after
the IPV transfer would also be $10.
Question Helpful Tips for a Successful R12 Oracle Payables Implementation
Answer Please read the entire list before starting your R12 implementation or upgrade.
1. Create a realistic schedule for your R12 implementation or upgrade.
2. Conduct your implementation or upgrade on a parallel system.
3. Allow yourself sufficient time to implement and perform user acceptance
testing (UAT). This will give you time to assure that your system has been designed
and setup to meet your business needs.
4. Assure that as much data as possible is accounted and ALL accounting is
transferred.
5. Clear up any data issues in 11i before upgrading (i.e., Run the Accounting
Health Check),
6. Use the Maintenance Wizard for the upgrade.
7. If possible, implement the most current version of R12 (i.e., R12.0.4 — see
Metalink Note: 465776.1 / Patch 6435000. In addition, apply the Oracle Financials
and Oracle HRMS Release Update Packs 12.0.5 (RUP5) — see Metalink Note:
565898.1 / Patch 6836355
8. Review the Oracle Financials Critical Patches Alert, see Note:557869.1. The alert
includes the links to the R12 Known Issues documents, which list the critical
patches for Oracle Payables, Subledger Accounting, EBusiness Tax, and other
Financials applications. Apply the critical patches to prevent encountering issues
that have already been addressed.
9. Apply the preupgrade patches BEFORE upgrading to R12.
10. Apply the postupgrade patches ASAP after completing the upgrade.
11. Perform several monthend closes before considering a GoLive date.
Question How Payables Payment Terms Logic Works ?
Answer How Payment Terms Work And What Is The Functionality Of Payment Terms When
?
The Payment Terms defined works on three basic fields on which you have
entered/defined information.
The below combinations along with Invoice date defaults your Invoice Due Date.
In the Define Payment terms screen
Method 1)

Invoice Date and No of Days entered in Payment term Days field
a)Days
Say, Invoice date is 28Nov2001 then if you enter 60 days then due date will
be 27Jan2001. It means it calculates no of days from the Invoice date.
Method 2)

Invoice Date + Cut Off day + Day of month with Months ahead.
1) Cutoff Day
2) Day of Month with Months ahead
For example :
If you enter Payment Terms like this:
Cut of day 31 (Last day of a Month) Means even though invoice is 28th 1st what so
ever, it calculates from the last day of month.
Day of a month 29
Months ahead 2 ( Two Months)
If invoice is dated 28Nov2001, with the above setup you get Due date as 29Jan
2001 as due date.
It will always calculate from the End of Nov ie 30th Nov and Then it takes Two
Months here it gives you always 29th of Second month from Invoice date.
ie
Invoice Date Due Date
28Nov2001 29Jan2002
28Dec2001 28Feb2002
28Jan2002 29Mar2002
So on and so forth.
Either you give 29th or 30th what so ever, once you give the Day of Month you will
get only that day as due date after Months specified in the Months ahead field.
This is how application works and desinged to work.
Please refer documentation for the following terms
Cutoff Day.
Days.
Day of Month
Months Ahead.
Further,
In case, you have two invoice payment terms which you are not able to define in
AP and the due dates are not defaulting as expected;
The two terms are:
(1) 60 DAYS END OF MONTH go to month end and add 60 days
E.G: invoice dated 28 NOV, due date is 29 JAN
(2) 90 DAYS END OF MONTH go to month end and add 90 days
E.G: invoice dated 28 NOV, due date is 28 FEB
How would you define these?
The Payment Terms functionality does not support the above example
Question R12 How to get Payment Method Defaulted In Supplier Creation page?
Answer 1. To ensure correct Setup, please perform the following:
a) Go to Setup > Payment > Payment Administrator > Payment Methods
b) Choose Payment Methods and then press Go To Task
c) Query for your Payment Method which you want to be defaulted and then press
Go Button
d) Press Update (Not Update Usage Rules)
e) Under (Usage Rules) region you will find (Automatically assign Payment Method
to all Payees) Check Box,Click on this Check Box to enable that option and then
press Apply Button
2)Also follow the following setup steps in
a (1):
a) Go to Setup> Payment> Payment Administrator > Disbursement System Options
and then press Go To Task
b) Under (Enterprise Level) region press View Settings
c) Under (Disbursement System Options: Enterprisewide) you will find the option
(Default Payment Method), press Update Button
d) There are two Options:
> Based Only on Payment Method Defaulting Rules Setup
> Override Defaulting Rules when Default Method Set for Payee
> Please choose the first option (Based Only on Payment Method Defaulting Rules
Setup) and then press Apply Button 3) Retest your issue again and feed us back if
your issue is resolved.
Question iRececivables Uptake Of Oracle Payment
Answer About the Integration:
Oracle Payments is a new product in release 12. The product known as iPayment
will no longer exist in release 12, however all functionality that existed in it is
contained within Oracle Payments.
The objective of the new product is to give any deploying company a highly
configurable and robust solution to disburse and receive payments. Oracle
Payments is a fundamental part of the Oracle Applications architecture, and is
provided with multiple products that require support for payment processing
services.
Oracle Payments provides the infrastructure needed to connect other products with
third party payment systems and financial institutions. The product supports a
number of payment features. Some features support just disbursement, some just
capture, and other features are common to both.
In iReceivables we can pay for the customers invoices . After selecting the payment
method ( Bank Transfer / Credit Card Payment) a receipt would be created in AR . In
earlier releases for the capture of funds the iPayments extensions were used .
iReceivables would now call the Oracle Payment API’s for the funds capture. This is
entirely in the background and there are no visible changes in the iReceivables user
interface because of this integration.
Question What has changed?
Answer 1. The receipt class set up (in AR) has changed requiring the Oracle Payments
‘Payment Method’ to be attached to this kind of payments.
2. Payment attributes of transactions will be stored in a centralized transaction
paymentextension entity owned by Oracle Payments.
3. In release 12, Oracle Payments owns the data model where all third party
payment instruments are stored (these are instruments like customer credit cards
and supplier bank accounts).
Question What happens during the Transaction Entry and Authorization ?
Answer A) During the Transaction Entry
The following are captured in iReceivables during the transaction entry ( paying the
Invoice in iReceivables) for the funds capture.
* Payment method
* Payment instrument
* Payment attributes
These values are passed on to Oracle Payments before the Authorization &
Settlement API’s are
Called.The transaction authorization information is stored in Payments and linked
with the extension entity, this is
no longer stored in AR tables.
B) During Authorization
Oracle Payments mandates that authorization is invoked before a transaction can be
settled in Oracle Receivables. Oracle Payments will enforce that the settled amount
is equal to or less than the authorized amount.
Based on the payment method passed to the Authorize API, Oracle Payments will
perform different functions that depend on the nature of that payment method. For
example, for payment methods in the credit card category, Oracle Payments will
attempt to validate the credit card and reserve the transaction amounts for
settlement. For payment methods in the bank account transfer category, Oracle
Payments will not attempt to reserve the funds, but will try to validate the bank
account information.
Question What is the set up required ?
Answer In Oracle Payments:
A (funds capture) payment method may be set up or a seeded payment method
used. It is required for funds capture within Oracle Payments to set up a funds
capture process profile, a payment system, and a payee (the definition of the
internal organization that will receive the funds, also known as the first party payee).
Set up Oracle Payments, if you intend to use the Pay Invoice function for credit
cards or for bank account transfers using the ACH network.
In Receivables:
Define Receipt Class and Payment Method
If you are using the Pay Invoice function, define at least one receipt class and
payment
method for each iReceivables payment instrument that you intend to use:
• Bank account transfers using Receivables direct debit.
• Credit card payments using Payments.
• ACH bank account transfers using Payments.
In iReceivables:
Go the iReceivable Setup Responcibility > System Parameters and select the
‘Credit Card Receipt Method’ and
‘Bank Account Payment Method’ defined above . These would default to the
receipts created from iReceivables.
Note:
iReceivables does not support crosscurrency payments. Though a user can still
pay invoices with a credit card
or bank account that has a different currency from that of the invoice, the receipt
created in iReceivables
will have the same currency as the invoice.
Question How to disable Create Online Accounting in Payables
Answer (1) Log on to System Administrator Responsibility
(2) Navigate Applications>Menu
(3) Query up Menu “AP_APXINWKB_MENU”
(4) In the child records of AP_APXINWKB_MENU, you should see “Invoice
Accounting”
(5) Uncheck the grant checkbox for “Invoice Accounting”.
(6) Log on to Payables Responsibility
(7) Create a invoice and approve it.
(8) Click on the Actions button.
(9) You should see “Online Accounting” checkbox disabled.
Question Difference between Match and Quick Match
Answer PO Default :
Enter PO Default as the invoice type if you know th purchase order you want to
match to, but you do not know to which purchase order shipments or distributions
you want to match. When you enter a PO Default invoice in the Invoice Workbench,
Payables prompts you to enter the purchase order number and automatically enters
the supplier name, supplier number, supplier site, and the purchase order currency
for the invoice currency. When you choose the Match button,Payables will retrieve
all purchase order shipments associated with the specified purchase order. You can
then match to any shipment or distribution.
Quick Match:
Enter Quick Match as the invoice type if you want to match an invoice to all
shipments on a purchase order. When you enter a Quick Match invoice in the
Invoice Workbench, Payables prompts you to enter the purchase order number and
automatically enters the supplier name, supplier number,supplier site, and the
purchase order currency for the invoice currency. When you choose the Match
button, Payables automatically matches to each shipment. You can choose to
complete the match or override the matching information.
Question Bank Account Access Options And Bank Account Grant Access Organizations
Answer When we define Bank account we assign: Bank Account: Account Owner and Use
1. Bank Account Owner and Use:
1). Bank Account Owner: The name of the source account holder.
2). Account Use: Select the checkboxes that apply to your account: Payables,
Payroll,
Receivables, Treasury.
Question Bank accounts can be given Organization Access to other organizations under any
Legal Entities as long as those Legal Entities are owned by the same Ledger of the
Legal Entity that owns the bank account? What it means?
Answer Yes..The LE and OU’s are indirectly tied with the ledger.. The ledger of the operating
unit must be same as the primarly ledger of the Legal entity. Additionally, the user
should have access to the operating units.
Question why an Organization is not listed in the LOV of the Bank Account Grant Access
Organizations window? Is it because the LE owning the bank account has its
Ledger and that ledger do not have other OU since those are not linked to this
ledger?
Answer Yes, that is one reason.. another reason could be that user might not have access to
that OU.
Question Explain the concept of the ERS. Also give relevant setups and programs related to
it.
Answer Evaluated Receipt Settlement (ERS) also referred to as 'Pay on Receipt'. While
defining supplier site in Purchasing tab, the "Pay on" field should be 'Receipt'.
Question Can an invoice be accounted if there are holds applicable to the invoice?
Answer Yes! An invoice can be accounted even if the holds are applied against it provided,
Accounting Allowed checkbox is enabled while defining the Invoice Hold.
Question Can the same Invoice Number be entered for two different suppliers in Payables?
Answer The invoice number should be unique for a given supplier; hence, the same Invoice
Number can be used by multiple suppliers
Question Control of Payables (AP) periods is at what level? At Operating Unit?
Answer Though Payables (AP) operates at Operating Unit level, the control of period is at
set of books level.
Question Can the same bank account be assigned to multiple suppliers? What is the
alternative if same bank account is to be shared across multiple suppliers (e.g. part
of same group)?
Answer Yes, While defining Internal bank accounts, "Allow Assignment to Multiple
Suppliers" checkbox should be enabled.
Question What is "Zero Payment"? And what are the setups required to make a Zero
Payment? Is it possible to ensure that only zero payments are allowed using a
payable document?
Answer While defining Bank Accounts, in Payable Options tab "Allow Zero Payments"
checkbox to be enabled. To ensure that only zero payments are allowed using a
payable document, attach a payment format to the same which has "Zero Amount
Payments Only" checkbox enabled.
Question A supplier is available in Invoice Inquiry; however, the supplier is not available
while entering Invoices. What are the possible reasons for the same?
Answer he possible for the unavailability of supplier are
The 'Pay' checkbox at supplier site (General tab) is disabled
'Inactive On' date is entered at the supplier site level i.e. supplier site is enddated.
Question While doing future dated payments, is the future dated payment account at the
supplier site used?
Answer It depends on the Payable Options's Accounting tab. There we have option to select
whether the future dated payments account should be selected either from Supplier
site or Payable documents.
Question When the 'Payment Method' at invoice level is given as 'Electronic', sytem requires
some additional details? What are they?
Answer When the 'Payment Method' is selected as 'Electronic' system additionally requires
a Bank account in the invoice currency to be assigned to the supplier.
Question If there is a requirement that for specific supplier, each invoice should be paid by a
separate check? Can that be achieved? If yes, how?
Answer While defining supplier site in the Payments tab, the "Pay Alone" need to be
checked so that each invoice is paid by a separate check.
Question Let us assume that a check issued to supplier has become timebarred. And
supplier returns it requesting for a new check. Can the existing check be voided and
a new check be issued simultaneously?
Answer
Question Can the payment date be before the system date i.e, is it possible to issue back
dated checks?
Answer Yes
Question While defining payable documents, document number is given as 1 to 4999. And an
user has issued checks till 4999. What happens when 5000th check is being created
using the same payable document?
Answer Error:
The provided payment document is exhausted. Select a different payment document
or select skipped document number, if any.
Question Can you create an Invoice in USD, while the Standard PO has been created in EUR?
Answer
Question What are the various possible period statuses in AP?
Answer Various period statuses of AP module are
Never Opened
Open
Closed
Question Period Close Exception Report' lists some payments under the heading 'Future
Dated Payments Requiring Maturity Event and Account'. What action should be
taken to resolve this?
Answer To resolve this issue 'Update Matured Future Payment Status' program needs to be
submitted with appropriate Maturity Date.
Question Can a period be closed if the Payment Batch in that period is in the status
'Formatted'?
Answer Yes, If a period can be closed only after the payment is accounted and transferred to
GL. Since, the status of payment is not 'Confirmed'; this payment will not allow for
AP period closure.
Question Will an Invoice without a Distribution Line come in the 'Period Close Exception
Report'? What action will be required to resolve it
Answer An Invoice without a distribution will not hinder period closing process. Hence, no
action will be required.
However, it is recommended to enter distributions, if a valid invoice; else delete
such invoices.
Question What are the most common issues encountered while AP Period Closing process?
Answer Without going to technicalility, on a broader level the most common issues are:
Invoice (Distributions) not Validated
Invoices on Hold
Invoices not Accounted
Payments not Accounted
Invoices & Payments accounting entries not transferred to GL
Maturity Accounting not done for Future Dated payments

The above issues may arise either because users forgot to run relevant programs or
because of bugs (which are quite many in AP) and awaiting resolution from Oracle
(after Service Request i.e SR is raised).
Question Is is mandatory to resolve the issues in All the Operating Units of a given Legal
Entity? Or the period can be closed once issues of one Operating Unit are
resolved?
Answer It is mandatory to resolve all the issues of ALL the Operating of a given Legal
Entity/ Set of Books (SOB).
Question Explain the Interface process.
Answer The interface process starts with uploading the legacy data, which is in the form of
flat file to the temporary table, and validating the data in the temporary. After that the
data to be transferred to the Interface tables. From there by running the Customer
Open Interface concurrent program, the data that is in the interface tables are
transferred to main tables.
Question What are the various tables involved in AP Interface?
Answer AP_INVOICES_INTERFACE
AP_INVOICE_LINES_INTERFACE
Question What is the program used to import invoices from interface tables?
Answer Payables Open Interface Import
Question Invoices vs Invoice Batches
Answer
Question Number of Tabs in Invoice Entry screen and what are they?
Answer General, Lines, Holds, Veiw Payaments, Scheduled Payments, Veiw Prepayment
Applicatons
Question Where is the method of Supplier Number set? At what level is the supplier
numbering controlled?
Answer
Question What are the various statuses of invoices?
Answer
Question How many key flexfileds are there in Payables
Answer Payables doesn't have any key flexfield
Question What are AP Accounting periods? How are they different from GL periods? Are
there adjusting periods in AP?
Answer
Question Can a partial payment of Prepayment be done?
Answer No
Error: The Prepayment amount cannot be different from the total invoice amount
which are selected for payment
Question Can you hold partial payments? And how can that be achieved?
Answer
Question How can the Invoice distributions' which can be transferred to Fixed Assets be
identified in AP? Is there is any field explains/indicates the same?
Answer Track as Assets
Question When you return goods to supplier (RTS) whether system created Debit Memo or
Credit Memo? And what is the setup required for the system to create the relevant
document automatically?
Answer Debit Mome
Question What does Accrual mean?
Answer
Question An invoice is entered, validated and accounted. And thereafter, the invoice is
cancelled; what will be the accounting status?
Answer
Question How can we link an Employee to Supplier?
Answer
Question Can you explain the concept of Automatic Offset in Payables? And how is this
different from Autoaccounting in AR?
Answer
Question Can two users use same payable document simultaneously? If yes, which user will
get the document number assigned first?
Answer
Question What are the various statuses of payment batch?
Answer
Question Can the payment date be before invoice date?
Answer
Question Can accounting of Payment be done before accounting invoice?
Answer No
Question Explain the concept of Proxima payment terms.
Answer
Question What are the various type of Distribution sets? And what is thier purpose?
Answer
Question Can an Invoice in INR be paid in USD currency? What are the alternatives
available?
Answer
Question Can multiple currency payments be done using same bank account? If yes, what are
the relevant setups required?
Answer
Question Can PO level DFF be transferred to AP Invoice? Any setups are required for the
same?
Answer
Question What is the name of program which is used to transfer accounting entries from AP
to GL and what are the options available during submitting the program?
Answer
Question Explain the concept of withholding tax along with relevant setups.
Answer
Question What's the difference between the "Payables Open Interface Import"
Program and the "Payables Invoice Import" program?
Answer
Question What are the tables associated with Invoice?
Answer ap_invoices_all
ap_distributions_all
ap_holds_all
ap_interface_rejections
Question What is Interest Invoice and how it can be created?
Answer
Answer
Question What is Accounting periods?
Answer Accounting periods are the periods in which you perform your
operations.Accounting periods are closed so as to ensure that no accounting
entries can be passed in that period after they are clsoed.Suppose you have issued
your results without closing your accounting periods and then you chnage some
entries in that period thus in turn misleading the public at large.So it is important to
close your accounting periods.Also, if accounting periods in Ap are not closed it
shall not allow you to run GL.Prior to closng the periods it is important to ensure
that all your invoices are validated and no hold exists on any one of them.If hold
exists it shall not allow you to run GL.
Question Types of Invoice in Payables?
Answer 1. Standard invoice
2. Debit memo
3. Credit memo
4. Prepayment
5. Expenses Report
6.PO defualt
7. Quick match
8. Mixed invoice
9. Withholding Tax
10. Interest invoice
11. Recurring invoice
Question Use of recurring invoice?
Answer
Question When does the Invoice price variance arise? What is the accounting entry?
Answer Purchasing and Inventory provide you with visibility and control of your invoice
price and exchange rate variances. Payables automatically calculates and records
invoice price and exchange rate variances in your general ledger when you have
matched, approved and posted your invoices. You can use the Invoice Price
Variance Report to review the accuracy of your purchase order prices.
IPV= difference between invoice price and po price.
These IPV, PPV only for inventory and wip transactions.
Question What is the difference between Standard Remittance and Factoring Remittance?
Answer
Question How to refund for a customer who returns goods and wants a refund for $600 in R12
In above scenarios customer does not want Credit Memo or On Account Credit, he
wants refund check . and as we know we do not issue check from AR. How can we
issue Check from AP and how offsetting is done for the same in R12
Answer
Question What is Allow Zero Invoice. Give a example?
Answer
Question What various types of matching. Explain them?
Answer
Question Match/Hold: How do I remove a Final Matching hold so that I can pay the invoice?
Answer This hold is in effect because the invoice was matched to a PO line that has a status
of Final Closed. There is no way to manually remove the hold; the system must
remove the hold. There are two workarounds for this situation:
Workaround #1: You need to reverse the distribution line that has the final match
hold. You can then create a new PO line, and match to that line.
Workaround #2: You can manually create a distribution line on the invoice that is
not matched to the PO, but is charged to the correct GL account. For More
information on Final Match Holds see Note 1026090.6.
Question How do I create a Withholding Tax invoice?
Answer After you apply withholding tax to an invoice, you can optionally create invoices to
remit withheld tax to the tax authority.
Payables can automatically create withholding tax invoices, or you can perform this
task manually. If you chose to automatically create withholding tax invoices, you
must choose whether to do this during Approval or during payment processing.
Indicate this choice in the Withholding Tax region of the Payables Options window.
See: Withholding Tax Payables Options.
If you choose to create withholding tax invoice manually, create an invoice for each
Withholding Tax type invoice distribution on an invoice. Create the invoice for the
tax authority supplier and site assigned to the Withholding Tax type tax name and
for the amount of the Withholding Tax type invoice distribution.
Question What is Purchase Price Variance?
Answer Purchasing and Inventory provide you with visibility and control of your purchase
price variances. When you use standard costing, Purchasing and Inventory
automatically calculate and record purchase price variances as you receive your
inventory items into inventory. If desired, Purchasing and Inventory automatically
calculate and record purchase price variances for your outside processing receipts
into work in process. You can use the Purchase Price Variance Report to review the
accuracy of the standard costs for your purchased items and services.
PPV= standard cost actual cost ie:difference between standard cost and po price.
Question What is the process/steps for Vendor Conversion?
Answer Insert the Vendor info into the interface tables and perform the required validations:
AP_SUPPLIERS_INT
Run the below programs to load the data into the Base tables:
Supplier Open Interface Import
Supplier Sites Open Interface Import
Supplier Site Contacts Open Interface Import
Answer In the Financials Options window, you can set the Supplier Number entry option to
either Autimoatic or Manual • Automatic: The system automatically assigns a
unique sequential number to each supplier when you enter a new supplier.
• Manual: You enter the supplier number when you enter a supplier
Question Give the cycle from creating an invoice to transferring it to GL in AP.
Answer 1)Create Invoice 2)Validate Invoice 3)Create Accounting entries using Payables
Accounting Process 4)Submit the Payables Transfer to General Ledger program to
send invoice and payment accounting entries to the General Ledger interface.
4)Journal Import (GL) 5)Journal Post (GL)
Question You have created a new SOB. How will you attach this SOB to AP?
Answer Go to Payables Manager for the appropriate Operating Unit.
Navigation:Setup>Set of Books>choose.
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