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Oracle Fusion Payables :First look
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Purpose of the document
Capgemini assisted Oracle with Fusion Applications product testing efforts at Hyderabad office for an 18 weeks period
Oracle had planned fusion program to -o Familiarize partners with the fusion apps
o Getting aligned with the new functionalities
o Gain early visibility in to the product
A team from Mumbai travelled to Oracle Hyderabad too Test the application
o Find product bugs and defects & resolve them
o Refining product features
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Introduction
Oracle Fusion Applications is an assimilation of best features from Oracle E Business Suite, JD Edwards, PeopleSoft and Siebel
Oracle Fusion Applications would leverage the SOA capabilities of the underlying Oracle
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Product HighlightsEnhanced user interface
• Invoices/Payments can be created with less number of clicks• Introduced landing page, which displays the to-do jobs after login based on role assigned to user
Creating invoice through scanned image• Fusion has inbuilt image processing software • It supports standard layouts of supplier invoices
Dashboards• Payables dashboard displays the list of transactions completed recently and pending (awaiting action) transactions like Invoices on hold, required approval, invoices on payment holds etc..• Using Pending transactions section user can drill downs to his transaction and complete the necessary actions easily.
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Product Highlights
Best of the breed features from Oracle Suite of Applications like PeopleSoft, JD Edwards, Seibel and Hyperion have been embedded in Fusion
Business Process centred design
Highly configurable – by business users
Embedded Business Intelligence
Collaboration facility within the application
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Financial options for Payables & ProcurementFinancial options for Payables & procurement
• These are used to define the default distributions for Liability, Bills Payable, Exchange rate gain/loss etc.
• They are also used for defining offset segments. There are three segments that can be chosen from
1. None
2. Balancing Segment
3. Balancing Segment with Account
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Payable Options
Payable Options consists of
• Payable options Invoicing
• Payable options Payment
• Payable options Tax
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Payable Options Invoicing
Payable options Invoicing is used to define options for
1. Invoice Entry
• Options defined here default on the invoice
2. Matching options
• Matching tolerances are defined here, and also options for allowing final match are enabled from here.
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Payable Options Invoicing3. Discount
• Used for defining rules for calculation of discount and their accounting.
4. Approvals• Enables approval, and what actions need to be done before approval.
5. Prepayments• Define the prepayment payment terms which will be defaulted on prepayment invoices
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Payable options Payment
Payable options payment defines when payments will be accounted.
Payments can be accounted at• Payment Issue• Payment clearing• At payment issue and clearing
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Payable options Tax
Payable options Tax
• This is used to define withholding options.
• The basis of withholding calculation(Including Discount, Tax)
• When is withholding to be calculated at Invoice validation or at Payment
• Withholding invoices are automatically created with Prefix of “With” and they contain the Original Invoice number in the description field.
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Invoice
Invoice consists of
• Invoice Header
• Invoice Lines
• Invoice Summary Invoice consists of the following tabs
• Lines
• Holds & Approvals
• Payment
• Installment
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Invoice
Fusion supports the following Invoice Types
• Standard Invoice
• Debit Memo
• Credit Memo
• Prepayment
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Invoice
Invoice Actions Validation Tax calculation Apply/ Unapply prepayments Approval Delete Cancel Account in Draft Account and post to ledger View Accounting Manage holds
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Payments
Fusion supports two types of payments
• Single Payment
• Payment process request aka PPR Single payment is a one time non recurring payment. Single payment can be made regardless of payment terms, due date etc. Single payment can only be made when mode of payment is electronic or printed
(Check)
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Single payment
Single payment types
• Quick payment checks all validation like supplier site holds, withholding calculation, pay alone invoices, discount while making payment
• Manual payment overrides all payment controls. A single payment can be made for multiple pay alone invoices. Manual payment can also be made even when supplier site is on payment hold.
• Refund is used for creating negative payment, and is used for closing outstanding credit balance with a party
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Salient features of different types of payment
Manual Quick Refund
Withholding Calculation
No Yes No
Discount Calculation
No Yes No
Interest Calculation
No Yes No
Payment Reference No
Manual entry
Auto generated
Manual entry
Cheque printing
No Yes No
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Payment process request (PPR)
Payment batch process is called as Pay run or Payment process request Steps for running a PPR
– Create PPR template
– Schedule or submit a PPR
– Review documents and manually add and remove documents if required
– Resolve errors and specify currency rates
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PPR processing stages
Document selection Document validation Payment validation Payment file processing Payment file validation Payment file transmission