Account Payables- The Accounts Payable (AP) module is used to administer payment for products or services while preventing double payment. The module contains a detailed history of accounts, giving vendors the background required to resolve issues and improve the flow of goods and payments.
Flow Chart
AP Transactions in Oracle Cloud.
Step 1- Navigate to the Create Purchase Transactions.
Navigator -> Procurement -> Purchase Requisitions -> More Tasks -> Create Noncatalog Request
In the general information section of the window, Give the Item Description, Category, UOM Number, Price, and currency.
Then click on add to cart.
Then click on the card and review the Requisitions.
Then check for Approval and wait for approval and then click on submit.
Step 2- Navigate to the Create Suppliers.
Navigator -> Procurement -> Suppliers -> Task bar -> Create Supplier
In the general information Section window give all the details for a supplier and click on submit.
Step 3- Navigate to the Purchases Order.
Navigator -> Procurement -> Purchases Order -> Task bar -> Process Requisitions
Then we will Search the Requisitions with business Unit
Then we will select the required Requisitions and we will add that on Documents Builder.
Then we will provide the Supplier’s details.
Then we will create the Purchase Order and submit for suppliers.
Step 4- Navigate to the My Receipt.
Navigator -> Procurement -> Receipt -> Task bar -> My Receipt.
In the next window search the Purchase Order and Select the Order and click on Receive.
Step 5- Navigate to the Invoice.
Navigator -> Payables -> Invoices.
In the next window Click on task bar Click on create Invoice.
In the general information windows, gives below details for invoice-
Purchases Order, Supplier details, Number, Amount and other invoice
Then click on save.
Then click on Invoice Action and validate the invoice.
And Save and close.
Step 6- Navigate to the Payment.
Navigator -> Payables -> Payment (For Bulk Payment)
Navigator -> Payables -> Invoices -> Open invoice -> Invoice Action -> Pay in full (For Invoice)
Then provide the supplier bank account and payment type (Check or Electronic).
Features of Oracle Accounts Payable Module
Vendor Information -> Maintain vendor sites and contacts with key vendor information
Recurring Payments -> Handles unique payment options such as balloon payments, Payments can cross over accounting periods
Automatic Interest Invoices -> Payables creates the interest % required for late payment of invoices, Review online the interest payments or report on them
Invoice Import -> Easily we can import bulk invoices.
