Accounting in Payables

Now in release 11i, Oracle Payables creates and stores accounting entries in the subledger. You can create accounting entries for invoice and payment transactions in Payables. Each transaction that has accounting impact is called an accounting event.
You can create accounting entries by submitting a batch program(Payables Accounting Process). Or you can create accounting entries from the transaction window for a specific invoice, invoice batch, payment, or payment batch. After Payables creates accounting entries, you can view the accounting entries in the following windows in Payables:

  • View Accounting Lines, which also appears with the following names, depending on where you are in the application when you navigate to the window.

– View Invoice Accounting
– View Payment Accounting

  • Update Accounting Entries. In this window you can update accounts on any accounting entries that were created with invalid accounts. After you create accounting entries, you can submit the Payables Transfer to General Ledger Program to transfer them to an interface.

From the interface, you can create journal entries and transfer them to your general ledger for posting. If you post entries in Oracle General Ledger, you can drill down from a journal entry line to the accounting entry or transaction in Payables. If you use budgetary control, then when you account for an invoice, Payables also creates any necessary encumbrances or encumbrance adjustments for the invoice. You can view encumbrances in the View Encumbrances window

Oracle Applications Fusion Cloud - Inventory

Oracle Cloud/Fusion Manufacturing Cloud training will help you develop the fundamental skills required to set up and use the Manufacturing module. This training covers all the tasks, setups, forms and reports used in Manufacturing and related modules