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Category: Financials

  • Withholding Tax Invoices in Oracle AP

    Withholding Tax Invoices in Oracle AP: Withholding tax (WHT) is the amount withheld while making a payment to a supplier/contractor/any payee. Instead it is paid to the tax authorities. You may be required to withhold taxes from your employee expense reports and supplier invoices. Payables lets you to automatically withhold tax based on the certain…

  • Retainage Release Invoices in Oracle AP

    Retainage Release Invoices in Oracle AP: Retainage means retaining certain amount of money with us without paying the supplier in full. The retained amount is released or paid to the supplier when all the terms of the agreement have been met or all the work is completed. Pre-requisites: 1. Retainage Account setup: Navigation: Payables Responsibility…

  • AutoInvoice Grouping Rules

    AutoInvoice Grouping Rules: Auto Invoice Grouping rules let you specify what attributes must be identical for lines to appear on an Invoice. In other words, these grouping rules you specify will help the Auto Invoice Interface to identify which set of lines should be grouped as one Invoice /credit Memo /Debit Memo. You have TWO types…

  • Guarantee in Oracle Receivables

    Guarantee in Oracle Receivables: Oracle Receivables supports two types of commitments with our customers: 1. Deposit: Customer commits to buy certain goods from us within a certain time range. He pays the amount upfront and we use it until we run out. 2. Guarantee: Customer commits to buy a certain dollar amount from us over…

  • Deposits in Oracle Receivables

    Deposits in Oracle Receivables: Oracle Receivables supports two types of commitments with customers: 1. Deposit: Customer commits to buy certain goods within a certain time range and pays the amount upfront. 2. Guarantee: Customer commits to buy a certain dollar amount over a specified time period. We track their sales to see if they actually…

  • Prepayments in Oracle AP

    Prepayments in Oracle Payables: Normal Payables cycle is that you first create invoice when you get one from you supplier for the goods that you have bought and then make a payment of the amount in the invoice to the supplier. But there are scenarios where the supplier requests for an advance when you order…

  • Chargebacks in Oracle Receivables

    Chargebacks in Oracle Receivables: You create Chargebacks when you wish to close the original invoice which the customer has partially paid and create a new invoice for the remaining amount that the customer has to pay yet. For example, your customer sends payment of $75 for a $100 invoice. You can apply the receipt to…

  • Invoices and Credit Memos in Oracle AR

    Invoices and Credit Memos in Oracle AR: Glossary: Invoice: A document that will convey how much the customer has to pay for the goods and services he has bought and due date for paying the amount. Credit Memo: Negative amount to decrease the balance of the invoice. Balance of Invoice: The amount that the customer…

  • Position Based Approval Hierarchy in Purchasing

    Approval hierarchies let you automatically route documents for approval. There are two kinds of approval hierarchies in Purchasing: position hierarchy and employee/supervisor relationships. If an employee/supervisor relationship is used, the approval routing structures are defined as you enter employees using the Enter Person window. In this case, positions are not required to be setup. If…

  • Payment batches in Payables 11i

    Introduction: We will see how we can use Payments Batches to create payments for multiple invoices that meet the selection criteria you specify. Process: The below diagram illustrates the sequence of steps to be followed to complete the payment batch. Each of the steps is initiated from the Payment Batch Actions window.     1.…

  • Importing Blanket Purchase Agreements(BPA)

    In this article we will see what a Blanket Purchase Agreement is and how we can import them along with the price breaks. Overview of Blanket Purchase Agreements: You create blanket purchase agreements when you know the detail of the goods or services you plan to buy from a specific supplier in a period, but…

  • Oracle iExpenses Overview

    Using Oracle iExpenses, employees can enter and submit expense reports. There is a Workflow process that is initiated behind when an expense report is submitted which automatically routes expense reports for approval. Oracle Internet Expenses integrates with Oracle Payables to provide quick processing of expense reports for payment. This article includes these topics: Process Overview…

  • Oracle iExpense Reporting

    By Haritha gogineni In this article, we will cover the below topics related to Oracle iExpense Create a New Expense Report Itemize an Expense Line Withdraw an Expense Report Update an Existing Report Delete an expense report View the Approval Status of an existing Expense Report   Creating an Expense Report in iExpense: Creating an…