Creating Accounting Entries in Payables

You can create accounting entries for Payables accounting events in two ways:

  • Submit the Payables Accounting Process.
  • Create accounting entries for a single transaction or batch.

After the process completes, Payables produces the Accounting Entries Audit Report and Accounting Entries Exception Report. The exception report lists any transactions that accounted with errors. In the Update Accounting Entries window, you can update any accounting entries that were created with invalid accounts.

Payables Accounting Process

Submit this batch process to create accounting entries in Payables.
After the process is complete, you can view the new accounting entries in the View Accounting Lines window.

Payables Accounting Process Report

Use this report to review accounting entries created by the Payables Accounting Process. The report has two sections:

  • Accounting Entries Audit Report. The audit report provides, in detail or summary, a listing of accounting entries created by the accounting process.
  • Accounting Entries Exceptions Report. The exception report lists in detail all accounting entries that were created with an error status and a description of that error. The Accounting Entries Exception Report is generated only when the accounting process encounters entries that fail validation.

Attention: If you see an entry that has a fatal error, please contact Oracle Support for technical assistance. If this
condition is encountered, then the transaction remains unaccounted.

Note that while the Payables Accounting Process is submitted for a document class, the report is organized by journal category. Oracle General Ledger associates each of your accounting entries with a journal entry category. This category is used to indicate the purpose or nature of the transaction. There are three journal entry categories for Oracle Payables transactions.

  1. Purchase Invoices. Assigned to journal entries originating from invoice accounting events. Invoice Accounting Events belong to the Invoice Document Class.
  2. Payments. Assigned to journal entries originating from payment accounting events, excluding payment reconciliation events.Payment Accounting Events belong to the Payments Document Class.
  3. Reconciled Payments. Assigned to journal entries originating from payment reconciliation events. Payment ReconciliationEvents belong to the Payments Document Class.

Oracle Applications Fusion Cloud - Inventory

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