Friday, October 14, 2011 Rounding Account V/S Suspense Account During Journal Import of a foreign currency journal

1. If the currency conversion type in GL_INTERFACE is not provided, and the accounted amounts are provided, then any imbalance in the accounted amounts will go to Suspense. 2. If the currency conversion type is provided in GL_INTERFACE for the foreign currency journal, and the currency conversion type is User with a currency conversion rate of 1, then any imbalance in the accounted amounts will be posted to the Suspense account. 3. If the currency conversion type is provided for a foreign currency journal, and it is not User with a rate of 1, then and only then will the imbalance go to the rounding account.This is because when Journal Import and consequently Posting is presented with user-defined accounted amounts, GL has no way of knowing the if the difference in the accounted amounts is due to suspense or rounding. Posted by Vilas Revankar at 8:50 PM 0 comments Labels: General Ledger AP TO FA FLOW
1. Create Standard Invoice in AP (Enter Asset Clearing Account in Distributions(Asset

Category), Validate, Create Accounting).

2. Pay the Invoice in full (Format, Create Accounting). 3. Run Payables Transfer to General Ledger (Only invoices that are transferred to GL will 4. 5. 6. 7.

be transferred to FA). Run Mass Addition Create in AP (GL date should be Invoice GL date). Run Mass Additions Create Report in FA (View output to confirm the process). Navigate to Prepare Mass Additions in FA (Query based on AP invoice number, change the Queue to Post, add the required fields and click on done). Navigate to Post Mass additions (Run the program).(New Asset number for the above process will be in the output file,Now the asset is ready).

Posted by Vilas Revankar at 8:42 PM 0 comments Labels: AP TO FA FLOW, Fixed Assets Wednesday, September 14, 2011 PA View Security Profile In PA to restrict the user to see only data/ expenditures pertaining to the projects for which he is a

key member Set the below profile value to "No" at Site , Responsibility and User level PA: Cross Project User -- View --------> No PA: Cross Project User -- Update ------> No Posted by Vilas Revankar at 8:11 PM 0 comments Labels: Projects Sunday, July 10, 2011 Prepayment Invoice There are two types of prepayments: Temporary and Permanent. Temporary prepayments can be applied to invoices or expense reports you receive. For example,you use a Temporary prepayment to pay a hotel a catering deposit. When the hotel's invoice arrives, apply the prepayment to the invoice to reduce the invoice amount you pay. Permanent prepayments cannot be applied to invoices. For example, you use a Permanent prepayment to pay a lease deposit for which you do not expect to be invoiced. You can apply the available amount of Item type distributions from a Temporary type prepayment to one or more invoices to offset the amount you pay on the invoice(s). If you entered the prepayment as a Permanent type and want to apply it, you can query the prepayment in the Invoices window and change the Prepayment Type to Temporary. Prepayment Applications Options Apply Prepayment on Invoice The "Prepayment on Invoice" option is to be used only when the Invoice Amount of the Standard invoice already includes the prepayment application. If this option is used the negative PREPAY lines and distributions are used along with the other lines and distributions when placing variance holds. When that option is not used PREPAY lines and distributions are excluded when placing variance holds. Prepayment Applications should typically be made with the "Prepayment on Invoice" unchecked. Prepayment Applications should not be made with the "Prepayment on Invoice" option checked unless it is certain that the prepayment amount has already been included in the Invoice Amount. This would mean that the SUM of the Lines and Distributions for the invoice prior to the prepayment being applied is more than the Invoice Amount.

To correct an existing application done with "Prepayment on Invoice" checked. unapply the prepayment application and then reapply it with the Prepayment on Invoice box unchecked. Posted by Vilas Revankar at 1:34 PM 0 comments Labels: Invoices - Account Payables Wednesday, May 11, 2011 CURRENCY Conversion When you enter a journal, General Ledger automatically converts any foreign currency amounts to your ledger currency. When you post journals, the converted amounts update your accounts standard balances. At the same time, General Ledger updates the corresponding aggregate balances for both your entered (foreign) and converted (ledger) currencies. These balances are used to compute your average balances. Revaluation When you revalue a balance sheet account that is denominated in a foreign currency,General Ledger automatically creates a journal entry to record the unrealized foreign exchange gain or loss. When this journal entry is posted, General Ledger updates both the standard balance and the corresponding aggregate balance of the revalued account.These updated balances are factored into the calculation of the account's average balance. Translation If you have average balance processing enabled, and choose to translate your accounts for consolidation or reporting purposes, General Ledger will translate both standard and average account balances to a balance-level reporting currency you specify as the reporting currency during Translation. You can translate both balances separately or in a single translation run, as part of the month-end cycle. General Ledger maintains translated balances in your balance-level reporting currencies for each day of an accounting period. When translating each day's average balances, the system multiplies the ledger currency average by the average of the daily conversion rates for the period, up to and including the current day. Posted by Vilas Revankar at 4:55 PM 0 comments Labels: CURRENCY Friday, February 11, 2011 Products in Oracle Projects Suite 11i 1. 2. 3. 4. 5. 6. Oracle Project Foundation Oracle Project Costing Oracle Project Billing Oracle Project Resource Management Oracle Project Management Oracle Project Collaboration

Oracle Project Foundation Oracle Project Foundation provides the common foundation shared across other Project Products (costing, billing etc)

Set of books Locations Organizations Calendars Job Groups Project Roles Project Statuses Project Templates Extensions and Workflows

If you have already implemented GL Application, you can skip the set up related to Set of books, Locations, Calendar etc. The above list contains only the important components Oracle Project Costing Oracle Project Costing is an integrated project-based cost collection, management and accounting solution that allows organizations to effectively manage projects and activities. The major components are listed below

Expenditure Categories Revenue Categories Expenditure Types Transaction Sources Labor Costing Extensions Auto Accounting for Costing Transactions Account Generators Non Labor Costing Labor Cost Schedules Cross Charging Transfer Price Rules

The above list is not a exhaustive one and contains only the important components Oracle Project Billing Oracle Project Billing can automate revenue generation, simplify client invoicing, improve your cash flow and measure the performance and profitability of Contract Projects

Define and assign billing assignments Implement billing extensions Define Agreement Types, templates Define auto accounting for Revenue, Receivables, Unbilled Receivables and Unearned Revenue

Oracle Project Resource Management PRM is an integrated project staffing application to help you to manage project resource needs, profitability and organization utilization by locating and deploying qualified resources to projects across your enterprise. Oracle Project Management Project Management provides project managers the visibility and control they need to deliver their projects successfully

Implement Work plan Define budget - types, extensions, workflow Project Status Reporting (PSI)

Oracle Project Collaboration Oracle Project Collaboration streamlines team collaboration and execution of project work.

Shares information with Oracle Project Management and provides a personalized view for team members Define team member home page lay outs The team member home page lay out promotes team collaboration by combining critical project information with daily functions of each user. Facilitates document sharing Quick access to common functions

Posted by Vilas Revankar at 2:34 PM 0 comments Labels: Projects Wednesday, February 2, 2011 Agreement on Invoice The agreement number will be picked up based on the following logic/order: 1. Hard limit agreements will be selected before soft limit agreements 2. Expiration Date (expiring agreements have higher priority over non-expiring aggrement) 3. Maximum available funding (baselined funding - billed) (aggrements with more available funding will be selected before aggreements with lesser balance funding) 4. Agreement Id (older aggrements will be picked first than the more recently created aggrements) Say we have 2 agreements A1 and A2 and having Balance Funding amount of $10000 and $5000 respectively. Normally if if you try to generate the invoice, all others being equal it will pick agreement A1 for the invoice.

Say we need to generate an invoice for $5000 on agreement A2, then set hard limit and an expiration date on A2 and soft limit on A1, So as per the above logic A2 will be selected. Posted by Vilas Revankar at 7:40 PM 0 comments Labels: Projects Friday, January 14, 2011 Unapply Credit Memo In the below update statement if the PREVIOUS_CUSTOMER_TRX_ID is given as '' it will unapply the application update RA_CUSTOMER_TRX_ALL set PREVIOUS_CUSTOMER_TRX_ID = '' where CUSTOMER_TRX_ID = XCMIDX; update RA_CUSTOMER_TRX_LINES_ALL set PREVIOUS_CUSTOMER_TRX_ID = '' where CUSTOMER_TRX_ID = XCMIDX; update RA_CUSTOMER_TRX_LINES_ALL set PREVIOUS_CUSTOMER_TRX_LINE_ID = '' where CUSTOMER_TRX_ID = XCMIDX; Posted by Vilas Revankar at 7:49 PM 0 comments Labels: Receivables Tuesday, November 9, 2010 Log file for AP Requests in 11i 1.Set the following profile options at your user level FND: Diagnostics to Yes. FND: Debug Log Enabled to Yes FND: Debug Log Level to Statement FND: Debug Log Mode to Asynchronous with Cross-Tier Sequencing FND: Debug Log Module to % 2. Run the following to get the log for a specific concurrent request. undefine v_request_id set pagesize 9999 set linesize 9999 set trimspool on set trimout on

spool dbug_log_file.log Select A.module , A.session_id , A. process_id , A.timestamp , A.message_text , A.user_id , A.transaction_context_id from fnd_log_messages A ,fnd_log_transaction_context b Where a.transaction_context_id = b.transaction_context_id And b.transaction_id in (&v_request_id); Or Refer Note 198799.1 in metalink Posted by Vilas Revankar at 1:11 PM 0 comments Labels: Log File Sunday, August 8, 2010 AP Invoices 11i Standard Credit Memo Debit Memo Expense Report PO Default Prepayment QuickMatch Withholding Tax Mixed R12 Standard Credit Memo Debit Memo Expense Report Prepayment Retainage Release Transportation Invoices Mixed Posted by Vilas Revankar at 11:59 AM 0 comments

Labels: 11i v/s R12 Saturday, August 7, 2010 Receivables Activities 11i Receivables Activities Adjustment Bank Error Earned Discount Endorsement Finance Charge Miscellaneous Cash Short Term Debt Unearned Discount Receipt Write-off Claim Investigation Credit Card Refund Prepayment Payment Netting R12 Receivables Activities Adjustment Bank Error Earned Discount Finance Charge Miscellaneous Cash Unearned Discount Receipt Write-off Claim Investigation Credit Card Refund Prepayment Payment Netting credit Card Chargeback Refund Posted by Vilas Revankar at 11:59 PM 0 comments Labels: 11i v/s R12 Friday, July 23, 2010 Receivables Accounting Invoices

When you enter a regular invoice through the Transactions window, Receivables creates the following journal entry: DR Receivables CR Revenue CR Tax (if you charge tax) CR Freight (if you charge freight) If you enter an invoice with a Bill in Arrears invoicing rule with a three month fixed duration accounting rule, Receivables creates the following journal entries: In the first period of the rule: DR Unbilled Receivables CR Revenue In the second period of the rule: DR Unbilled Receivables CR Revenue In the third and final period of the rule: DR Unbilled Receivables CR Revenue DR Receivables CR Unbilled Receivables CR Tax (if you charge tax) CR Freight (if you charge freight) If you enter an invoice with a Bill in Advance invoicing rule, Receivables creates the following journal entries: In the first period of the rule: DR Receivables CR Unearned Revenue CR Tax (if you charge tax) CR Freight (if you charge freight) DR Unearned Revenue CR Revenue In all periods of the rule for the portion that is recognized. DR Unearned Revenue CR Revenue Credit Memos When you credit an invoice, debit memo, or chargeback through the Credit Transactions window, Receivables creates the following journal entry: DR Revenue DR Tax (if you credit tax)

DR Freight (if you credit freight) CR Receivables (Credit Memo) DR Receivables (Credit Memo) CR Receivables (Invoice) When you credit a commitment, Receivables creates the following journal entries: DR Revenue CR Receivables When you enter a credit memo against an installment, Receivables lets you choose between the following methods: LIFO, FIFO, and Prorate. When you enter a credit memo against an invoice with invoicing and accounting rules, Receivables lets you choose between the following methods: LIFO, Prorate, and Unit. If the profile option AR: Use Invoice Accounting for Credit Memos is set to Yes, Receivables credits the accounts of the original transaction. If this profile option is set to No, Receivables uses AutoAccounting to determine the Freight, Receivables, Revenue, and Tax accounts. Receivables uses the account information for on-account credits that you specified in your AutoAccounting structure to create your journal entries. Receivables lets you update accounting information for your credit memo after it has posted to your general ledger. Receivables keeps the original accounting information as an audit trail while it creates an offsetting entry and the new entry. Commitments Deposits When you enter a deposit, Receivables creates the following journal entry: DR Receivables (Deposit) CR Offset Account Use the AR: Deposit Offset Account Source profile option to determine how Receivables derives the Offset Account to credit for this deposit. When you enter an invoice against this deposit, Receivables creates the following journal entries: DR Receivables (Invoice) CR Revenue CR Tax (if you charge tax) CR Freight (if you charge freight) DR Offset Account (such as Unearned Revenue) CR Receivables (Invoice) When you apply an invoice to a deposit, Receivables creates a receivable adjustment against the invoice. Receivables uses the account information that you specified in your AutoAccounting structure to create these entries. When cash is received against this deposit, Receivables creates the following journal entry: DR Cash CR Receivables (Deposit)

Guarantees When you enter a guarantee, Receivables creates the following journal entry: DR Receivables CR Revenue Receivables uses the Receivable Account and Revenue Account fields on this guarantee's transaction type to obtain the accounting flexfields for the Unbilled Receivables and Unearned Revenue accounts, respectively. When you enter an invoice against this guarantee, Receivables creates the following journal entry: DR Receivables (Invoice) CR Revenue CR Tax (if you charge tax) CR Freight (if you charge freight) DR Revenue CR Receivables When you apply an invoice to a guarantee, Receivables creates a receivable adjustment against the guarantee. Receivables uses the account information you specified in your AutoAccounting structure to create these entries. When cash is received against this guarantee, Receivables creates the following journal entry: DR Cash CR Receivables (Invoice) Receipts When you enter a receipt, Receivables creates the following journal entries: DR Cash CR Receivables When you fully apply a receipt to an invoice, Receivables creates the following journal entry: DR Cash DR Unapplied Cash CR Unapplied Cash CR Receivables When you enter an unidentified receipt, Receivables creates the following journal entry: DR Cash CR Unidentified When you enter an on-account receipt, Receivables creates the following journal entry: DR Cash CR Unapplied DR Unapplied CR On-Account

When your receipt includes a discount, Receivables creates the following journal entry: DR Receivables CR Revenue DR Cash CR Receivables DR Earned/Unearned Discount CR Receivables Receivables uses the default Cash, Unapplied, Unidentified, On-Account, Unearned,and Earned accounts that you specified in the Remittance Banks window for this receipt class. When you enter a receipt and combine it with an on-account credit (which increases the balance of the receipt), Receivables creates the following journal entry: DR Cash CR Unapplied Cash To close the receivable on the credit memo and increase the unapplied cash balance, Receivables creates the following journal entry: DR Receivables CR Unapplied Cash When you enter a receipt and combine it with a negative adjustment, Receivables creates the following journal entries: DR Cash CR Receivables (Invoice) DR Write-Off CR Receivables (Invoice) You set up a Write-Off account when defining your Receivables Activity. When you enter a receipt and combine it with a positive adjustment, Receivables creates the following journal entries: DR Cash CR Receivables (Invoice) DR Receivables (Invoice) CR Write-Off When you write off the unapplied amount on a receipt, Receivables creates the following journal entries: DR Unapplied Cash CR Write-off When you enter a receipt and combine it with a Chargeback, Receivables creates the following journal entries: DR Cash CR Receivables (Invoice) DR Receivables (Chargeback) CR Chargeback (Activity)

DR Chargeback (Activity) CR Receivables (Invoice) You set up a Chargeback account when defining your Receivables Activity. To move funds between receipts, you can apply one receipt to another open receipt (also called netting receipts). For example, you can move funds from Receipt 1 to Receipt 2 by opening Receipt 2 in the Applications window, and selecting Receipt 1 in the Apply To field. Following the example above, Receivables creates these journal entries: DR Unapplied Cash (Receipt 1) CR Netting (Receipt 1) DR Netting (Receipt 2) CR Unapplied Cash (Receipt 2) After this receipt-to-receipt application completes, Receipt 2 gains additional funds that you can then apply to a debit item. You set up a Netting account when defining your Receivables Activity. Important: When netting receipts, both receipts must be in the same currency. If both receipts are in a foreign currency, however, then you could have an exchange gain or loss when you net the receipts. The exchange gain or loss is realized on the main receipt (Receipt 2) at the time of receipt application (netting). If you later adjust the exchange rate on Receipt 1 or 2, then Receivables: Rolls back all accounting for both receipts. Re-creates the accounting, including the netting application, using the adjusted exchange rate. Recalculates the exchange gain or loss on whichever receipt is open in the Applications window. Remittances When you create a receipt that requires remittance to your bank, Receivables debits the Confirmation account instead of Cash. An example of a receipt requiring remittance would be a check before it was cashed. Receivables creates the following journal entry when you enter such a receipt: DR Confirmation CR Receivables You can then remit the receipt to your remittance bank using one of the two remittance methods: Standard or Factoring. If you remit your receipt using the standard method of remittance, Receivables creates the following journal entry: DR Remittance CR Confirmation When you clear the receipt, Receivables creates the following journal entry: DR Cash DR Bank Charges CR Remittance If you remit your receipt using the factoring remittance method, Receivables creates the following

journal entry: DR Factor CR Confirmation When you clear the receipt, Receivables creates a short-term liability for receipts that mature at a future date. The factoring process let you receive cash before the maturity date, and assumes that you are liable for the receipt amount until the customer pays the balance on the maturity date. When you receive payment, Receivables creates the following journal entry: DR Cash DR Bank Charges CR Short-Term Debt On the maturity date, Receivables reverses the short term liability and creates the following journal entry: DR Short-Term Debt CR Factor Adjustments When you enter a negative adjustment against an invoice, Receivables creates the following journal entry: DR Write-Off CR Receivables (Invoice) When you enter a positive adjustment against an invoice, Receivables creates the following journal entry: DR Receivables (Invoice) CR Write-Off Debit Memos When you enter a debit memo in the Transactions window, Receivables creates the following journal entries: DR Receivables CR Revenue (if you enter line amounts) CR Tax (if you charge tax) CR Freight (if you charge freight) DR Receivables CR Late Charges On-Account Credits When you enter an on-account credit in the Applications window, Receivables creates the following journal entry: DR Revenue (if you credit line amounts) DR Tax (if you credit tax) DR Freight (if you credit freight)

CR Receivables (On-account Credit) Receivables uses the Freight, Receivable, Revenue, and Tax accounts that you specified in your AutoAccounting structure to create these entries. Once the on-account credit is applied to an invoice, the following journal entry is created: DR Receivables (On-account Credit) CR Receivables (Invoice) Credit Card Refunds Creating a credit card refund When you unapply a receipt and reapply the receipt to a credit card refund, Receivables creates these journal entries: DR Receivables CR Unapplied DR Unapplied CR Receivable Activity (Clearing Account) After you apply the receipt to a credit card refund, Receivables automatically creates a negative miscellaneous receipt in the amount of the refund and creates this journal entry: DR Receivable Activity (Clearing Account) CR Cash Reversing a credit card refund When you reverse a credit card refund, either by reversing the negative miscellaneous receipt or by unapplying the credit card refund activity, Receivables creates this journal entry for the negative miscellaneous receipt: DR Cash CR Receivable Activity (Clearing Account) and Receivables creates this journal entry for the original payment receipt: DR Receivables Activity (Clearing Account) CR Unapplied Claims Creating an invoice related claim When you record an invoice related short payment as a claim in the Applications window, Receivables creates the standard accounting entries for the invoice and for the receipt application. There are no additional accounting entries for the invoice related claim. Creating a non-invoice related claim When you record a non-invoice related short payment or over payment as a claim investigation application in the Applications window, Receivables creates these journal entries: DR Claim Investigation CR Unapplied Cash Receivables derives the accounting flexfield for the claim investigation application from the receivable activity that you assigned in the Applications window.

Posted by Vilas Revankar at 9:06 PM 0 comments Labels: Receivables Tuesday, March 2, 2010 Prepayment Accounting entries in Accounts Payables When Prepayment Invoice is created. Prepaid Expense A/c----------Dr Liability A/c--------------------Cr When Prepayment Invoice is paid. Liability A/c---------------------Dr Bank/cash A/c-------------------Cr When Invoice is raised for Expense Expense Charge A/c--------------Dr Liability A/c----------------------Cr When Prepayment is applied to invoice it reverses the original prepaid invoice accounts creates the following accounts Liability A/c------------------------Dr Prepaid Expense A/c--------------Cr Posted by Vilas Revankar at 6:20 PM 0 comments Labels: Invoices - Account Payables Monday, February 8, 2010 AP Payments Issue A check was paid against an invoice, and then voided, yet the check went out and was cashed. Example: 1. Invoice created for 1000 2. Invoice paid for 1000 3. Payment was voided. 4. Check was sent to the supplier who cashed it. 5. Invoice was also canceled and another check against it was voided. Solution Summary: Create a 0 amount invoice with 2 distribution lines, 1 for the expense account as a debit and the other distribution lines to the cash account as a credit

Solution Explanation: When the invoice was created if this was just a simple invoice created, invoice paid, payment voided, but check cleared, then the following has to be done: Original invoice Expense A/c--------Dr 1000 Liability A/c--------Cr 1000 Payment Liability A/c--------Dr 1000 Cash A/c----------Cr 1000 Void payment Cash A/c-----------Dr 1000 Liability A/c-------Cr 1000 But to take care of the voided check that cleared and was cashed, create a 0$ invoice with two new distribution lines: Line 1 with 1000 Expense A/c--------Dr 1000 and line 2 with -1000 (you fill in the expense account as the cash account) Cash A/c------Cr 1000 (this is used in place of the expense account) Here the amount for Liability A/c will be 0 once the invoice gets created. So invoice is still owed, and we issue a 0 amount manual payment check Liability A/c--------Dr 0 Cash A/c----------Cr 0 Posted by Vilas Revankar at 7:46 PM 0 comments Labels: Issues Saturday, January 30, 2010 Fixed Asset Accounting Asset Additions Asset cost A/c------------------------------Dr Asset Clearing A/c------------------Cr Asset Retirements Accumulated depreciation A/c--------------Dr Retirement gain/loss A/c----------------------Dr(Asset book)

Asset cost A/c----------------------------Cr Asset Retirements with Proceeds of sales Accumulated depreciation A/c--------------Dr Proceeds of sales A/c--------------------------Dr Asset cost A/c------------------------Cr Gain/loss A/c-------------------------Cr Asset Reclassification Asset cost A/c------------------------------Dr (New Asset Category) Accumulated depreciation A/c-----------Dr (Old Asset Category) Asset cost A/c------------------------Cr (Old Asset Category) Accumulated depreciation A/c------Cr (New Asset Category) Depreciation Depreciation Expense A/c-----------------Dr Accumulated depreciation A/c------Cr When Cost adjustment made, amount is increased Depreciation Expense A/c-----------------Dr Asset cost A/c-------------------------------Dr Accumulated depreciation A/c------Cr Asset Clearing A/c--------------------Cr Same entries will be reversed when amount is decreased These accounts are taken from asset category Posted by Vilas Revankar at 2:34 PM 0 comments Labels: Fixed Assets Monday, November 9, 2009 Account Payables- Payables options Accounting Methods Currency Expense Report Interest Invoice Invoice Tax Matching Payment

Payment Accounting Reports Supplier Tax Defaults and Rules Transfer to GL Withholding Tax Posted by Vilas Revankar at 12:08 PM 0 comments Labels: Account Payables Setups Account Payables- Financials Options Accounting Encumbrance Human Resources Supplier - Payables Supplier - Purchasing Supplier Entry Tax Posted by Vilas Revankar at 12:03 PM 0 comments Labels: Account Payables Setups Account Receivables- System Options Accounting Tax Tax Defaults and Rules Transactions and Customers Revenue Policy Claims Miscellaneous Posted by Vilas Revankar at 11:53 AM 0 comments Labels: Account Receivables Setups Friday, October 30, 2009 Account Receivables Setups ne Set of Books (Required) De Decide How to Use the Account Generator (Required) Define Key Flexfields (Required) ne Organizations (Required) De eld Structure (Required) ne Sales Tax Location Flex De ne System Options (Required) De ne Payment Terms (Required) De Open Accounting Periods (Required) ne AutoAccounting (Required) De

ne Transaction Types (Required) De ne Transaction Sources (Required) De ne Collectors (Required) De ne Approval Limits (Required) De ne Remittance Banks (Required) De ne Receivables Activities (Required) De ne Receipt Classes (Required) De ne Receipt Sources (Required) De ne Payment Methods (Required) De ne Salespersons (Required) De le Options (Required) ne System Pro De le Classes (Required) ne Customer Pro De ne Customers (Required) De ne Remit-To Addresses (Required) De ne Units of Measure (Required) De Set Up Tax (Required) eld Structure (Optional) ne Transaction Flex De Define Descriptive Flexfields (Optional) ne AutoCash Rule Sets (Optional) De ne Receivables Lookups (Optional) De ne Demand Class Lookups (Optional) De ne Invoice Line Ordering Rules (Optional) De ne Grouping Rules (Optional) De ne Application Rule Sets (Optional) De Set Up Flexible Address Formats (Optional) Maintain Countries and Territories (Optional) Assign Reporting Set of Books (Optional) ne Accounting Rules (Optional) De Set Up Cash Basis Accounting Method (Optional) ne Distribution Sets (Optional) De ne Receipt Programs (Optional) De ne Aging Buckets (Optional) De ne Statement Cycles (Optional) De ne Standard Messages (Optional) De ne Dunning Letters (Optional) De ne Dunning Letter Sets (Optional) De ne Territories (Optional) De ne Customer Relationships (Optional) De ne Lockboxes (Optional) De ne Transmission Formats (Optional) De ne Unit of Measure Classes (Optional) De ne Standard Memo Lines (Optional) De

Set Up Cross Currency Receipts (Optional) Set Up Vendor Extension (Optional) ne Document Sequences (Optional) De Posted by Vilas Revankar at 2:47 PM 0 comments Labels: Account Receivables Setups Monday, September 28, 2009 ORDER TO CASH CYCLE ACCOUNTING Sales order entry No Accounting Sales Order Pick Sub Inventory A/c---------------Dr At Std Cost Sub-inventory Material A/c Setup To Inventory A/c----------------Cr At Std Cost(Staging) Sub-inventory Material A/c Setup Ship Confirm No Accounting Sales Order Issue COGS A/c-------------------Dr It can be fetched from five places Master Item/Org/Order Type/Line Type/Shipping Paramts To Sub Inventory A/c------Cr At Std Cost Sub-inventory Material A/c Setup Transaction level Receivable A/c------------------------Dr Transaction type To Revenue A/c-----------------------Cr Transaction type To Frieght A/c------------------------Cr Transaction type To Tax A/c----------------------------Cr Tax codes Receipts Cash/Bank A/c------------------------Dr Bank To Receivable A/c--------------------Cr Transaction type Posted by Vilas Revankar at 6:40 PM 0 comments Labels: ORDER TO CASH CYCLE ACCOUNTING

Friday, September 25, 2009 PROCURE TO PAY CYCLE ACCOUNTING Creation of Requisition No Accounting Creation of Purchase Order No Accounting Receiving of Goods Receiving A/c----------------------Dr At PO Price Receiving Option Setup To AP Accrual A/c------------------Cr At PO Price Inventory Org Setup Delivery of Goods Raw Material Sub Inventory A/c-----Dr At Standard Cost Sub-inventory Material A/c Setup Po Price VarianceA/c ----------------Dr Diff between PO-Stnd Inventory Org Setup To Receiving A/c----------------------Cr At PO Price Receiving Option Setup Invoice matching with PO AP Accrual Liability A/c------------Dr At PO Price Receiving Option Setup Invoice Price Variance A/c---------Dr Diff btw Invoice-PO Inventory Org Setup To AP Liability A/c-------------------Cr At Invoice Price Financial Options/Supplier Site On making Payment Liability A/c-----------------------Dr At Invoice Price Financial Options/Supplier Site To Cash-----------------------------Cr At Invoice Price Bank A/c Setup Enter purchase order When you enter a purchase order, accounts are created and stored with the purchase order distribution. The accounts will eventually be used as a basis for creating accounting that is sent to the general ledger. Creating a purchase order in and of itself generates no accounting that is sent to the general ledger. Receive

When you process a receipt, no accounting is created for period end accruals.Receipts that are accrued at period end will always be for a destination type ofexpense. Deliver and cost When you deliver a receipt to its final destination, no accounting is created.The expense will be recorded after matching to the purchase order, running the Payables Accounting process and subsequently running the Payables Transfer to General Ledger process. Period end accrual If an invoice is not entered by period end, the Receipt Accruals - Period End process will generate accruals and transfer the accounting for them to the GL Interface. Use the Journal Import program to create unposted journals. This journal is created with a reversal date in a subsequent period. The journal must be reversed so your receipt liability is not overstated. Reverse accrual in the general ledger In the subsequent period, reverse the prior period accrual. Invoice and match Entering an invoice and matching creates a debit to the Inventory AP Accrual account to clear the liability for the uninvoiced receipt. The entire credit is to the AP Liability account that defaults from the supplier site if the invoice unit price is the same as the purchase order line unit price. Any difference is charged to the Invoice Price Variance account.For items with destination type of Expense, the Invoice Price Variance account will be the same as the charge account. The AP Liability account is cleared when a payment is processed. Posted by Vilas Revankar at 7:52 PM 0 comments Labels: PROCURE TO PAY CYCLE ACCOUNTING Tuesday, September 15, 2009 Transactions - Account Receivables 1. Invoice. 2. Credit memo. 3. Debit memo. 4. Deposit. 5. Guarantee. 6. Chargeback. 7. Bills Receivables. Posted by Vilas Revankar at 8:13 PM 0 comments Labels: Transactions - Account Receivables Invoices - Account Payables Regular Invoice 1. Standard invoice.

2. Credit memo. 3. Debit memo. 4. Prepayment. 5. Expense report. 6. QuckMatch. 7. Mixed invoice. 8. PO default. 9.Withholding Tax invoice. Special Invoice 1. Recurring invoice. 2. Interest invoice. Posted by Vilas Revankar at 8:02 PM 0 comments Labels: Invoices - Account Payables Thursday, September 10, 2009 Qualifiers Flexfield Qualifiers 1. Cost Center Segment - This attribute is used to identify the cost center segment. 2. Natural Account Segment - This attribute is used to identify the natural account segment. 3. Balancing Segment- This attribute is used to identify the balancing segment. This is typically the company segment. 4. Intercompany Segment - This attribute is used to identify the intercompany segment. 5. Secondary Tracking Segment - This attribute is used to identify the secondary tracking segment to process income statement closing, translation and revaluation. In R12 6. Management Segment- This attribute is used to identify the management segment. 7. Ledger Segment- This attribute is used to identify the ledger segment. Segment Qualifiers 1. Allow budgeting 2. Allow posting 3. Account type (asset, liability, expense, revenue, or equity) 4. Control account 5. Reconciliation flag Posted by Vilas Revankar at 4:11 PM 1 comments Labels: Qualifiers Wednesday, September 9, 2009

Key FlexFields

R12

11i Posted by Vilas Revankar at 8:58 PM 0 comments Labels: FlexFields Sunday, July 26, 2009 A

Account Generator A feature that uses Oracle Workflow to provide various Oracle Applications with the ability to construct Accounting Flexfield combinations automatically using custom construction criteria. You define a group of steps that determine how to fill in your Accounting Flexfield segments. You can define additional processes and/or modify the default process(es), depending on the application. Accounting rules Rules that you can use for imported and manually entered transactions to specify revenue recognition schedules. You can define an accounting rule in which revenue is recognized over a fixed or variable period of time. Accrual basis accounting A method of accounting in which you recognize revenues in the accounting period in which you earn revenues and recognize expenses in the accounting period in which you incur the expense. Both revenues and expenses need to be measurable to be reportable. Adjustment A Receivables feature that allows you to increase or decrease the amount due of your invoice, debit memo, chargeback, deposit, or guarantee. Receivables lets you create manual or automatic adjustments. Aging buckets In Oracle Receivables and Oracle Payables, time periods you define to age your debit items. Aging buckets are used in the Aging reports to see both current and outstanding debit items. For example, you can define an aging bucket that includes all debit items that are 1 to 30 days past due. Applications Desktop Integrator uses the aging buckets you define for its Invoice Aging Report. Approval limits Limits you assign to users for creating adjustments and approving credit memo requests. Receivables enforces the limits that you define here when users enter receivables adjustments or approve credit memo requests initiated from iReceivables. When users enter adjustments that are within their approval limit, Receivables automatically approves the adjustment. When users enter adjustments outside their approval limit, Receivables assigns a status of pending to the adjustment. AutoAccounting In Oracle Receivables, a feature that lets you determine how the Accounting Flexfields for your revenue, receivable, freight, tax, unbilled receivable and unearned revenue account types are created. AutoAdjustment A feature used to automatically adjust the remaining balances of your invoices, debit memos, and chargebacks that meet the criteria that you define. Autoallocations A feature in Oracle General Ledger that automates journal batch validation and generation for

MassAllocations, Recurring Journals, MassBudgets, Project Allocations and Mass Encumbrances. You can create parallel and step-down autoallocation sets. AutoAssociate An option that allows you to specify whether you want Oracle Receivables to determine the customer using invoice numbers if the customer cannot be identified from either the magnetic ink character recognition (MICR) number or the customer number. Receivables checks the invoice numbers until it finds a unique invoice number for a customer. Receivables then uses this invoice number to identify the customer. You can only use this feature if your bank transmits invoice numbers and if the AutoLockbox Validation program can identify a unique customer for a payment using an invoice number. Otherwise, Receivables treats the payment as unidentified. AutoCash Rule A feature that Post QuickCash uses to automatically apply receipts to a customers open items. AutoCash Rules include: Apply to the Oldest Invoice First, Clear the Account, Clear Past Due Invoices, Clear Past Due Invoices Grouped by Payment Term, and Match Payment with Invoice. AutoCash Rule Set A feature that determines the order of the AutoCash Rules that the Post QuickCash program will use when automatically applying receipts to a customers open items. You can choose to include discounts, finance charges, and items in dispute when calculating your customers open balance. AutoInvoice A program that imports invoices, credit memos, and on-account credits from other systems to Oracle Receivables. AutoOffset A feature that automatically determines the offset (or credit) entry for your allocation entry. AutoOffset automatically calculates the net of all previous journal lines in your allocation entry, reverses the sign, and generates the contra amount. AutoReconciliation An Oracle Cash Management feature that allows you to reconcile bank statements automatically. This process automatically reconciles bank statement details with the appropriate batch, journal entry, or transaction, based on user-defined system parameters and setup. Oracle Cash Management generates all necessary accounting entries. Posted by Vilas Revankar at 5:40 PM 0 comments Labels: DEFINITIONS Saturday, July 25, 2009 B Balancing segment An Accounting Flexfield segment that you define so that General Ledger automatically balances all journal entries for each value of this segment. For example, if your company segment is a

balancing segment, General Ledger ensures that, within every journal entry, the total debits to company 1 equal the total credits to company 1. Bill of Exchange In Oracle Receivables, an agreement made with your customer in which they promise to pay a specified amount on a specific date (called the maturity date) for goods or services. This process involves the transfer of funds from your customers bank account to your bank account. In Oracle Cash Management, a method of payment involving the transfer of funds between bank accounts, where one party promises to pay another a specified amount on a specified date. In Oracle Payables, a method of payment. Also known as a future dated payment in some countries. Budgetary control An Oracle Financials feature you use to control actual and anticipated expenditures against a budget. When budgetary control is enabled, you can check funds online for transactions, and you can reserve funds for transactions by creating encumbrances. Oracle Financials automatically calculates funds available (budget less encumbrances less actual expenditures) when you attempt to reserve funds for a transaction. Oracle Financials notifies you online if funds available are insufficient for your transaction. Absolute: The transaction is rejected if sufficient funds are not available. Advisory: The transaction is accepted when sufficient funds are not available, but a the system issues a warning notification that available funds are exceeded. None: The transaction is accepted and no funds check is performed. Business group The highest level of organization and the largest grouping of employees across which a company can report. A business group can correspond to an entire company, or to a specific division within the company. Each installation of Oracle Projects uses one business group with one hierarchy Posted by Vilas Revankar at 7:25 PM 0 comments Labels: DEFINITIONS Friday, July 24, 2009 C Cash basis accounting In Oracle Receivables, an accounting method that lets you recognize revenue at the time payment is received for an invoice.In Oracle Payables, an accounting method in which you only recognize an expense when you incur the expense. With the Cash Basis Accounting, Payables only creates accounting entries for invoice payments Cash Clearing Account The cash clearing account you associate with a payment document. You use this account if you account for payments at clearing time. Oracle Payables credits this account instead of your Asset (Cash) account and debits your Liability account when you create accounting entries for uncleared payments. Oracle Payables debits this account and credits your Asset (Cash) account once you

clear your payments in Oracle Cash Management. Chargebacks A new debit item that you assign to your customer when closing an existing, outstanding debit item. Chart of accounts The account structure your organization uses to record transactions and maintain account balances. Claim A discrepancy between the billed amount and the paid amount. Claims are often referred to as deductions, but a claim can be positive or negative. Clearing account An account used to ensure that both sides of an accounting transaction are recorded. For example, Oracle General Ledger uses clearing accounts to balance intercompany transactions. When you purchase an asset, your payables group creates a journal entry to the asset clearing account. When your fixed assets group records the asset, they create an offset journal entry to the asset clearing account to balance the entry from the payables group. Combined basis accounting A method of accounting that combines both Accrual Basis Accounting and Cash Basis Accounting. With Combined Basis of Accounting, you use two separate sets of books, one for the accrual basis accounting method and the other for the cash basis accounting method. Payables creates journal entries for invoices and payments to post to your accrual set of books and creates journal entries for payments to post to your cash set of books. Commitment In Oracle Receivables and Oracle Payables, a contractual guarantee with a customer for future purchases, usually involving deposits or prepayments. You can create invoices against the commitment to absorb the deposit or prepayment. Receivables automatically records all necessary accounting entries for your commitments. In Oracle General Ledger, an encumbrance type typically associated with purchase requisitions to track expenditures. You can view funds available and report on commitments. Oracle Order Management allows you to enter order lines against commitments. Construction-in-process (CIP) asset A depreciable fixed asset you plan to build during a capital project. The costs associated with building CIP assets are referred to as CIP costs. You construct CIP assets over a period of time rather than buying a finished asset. Oracle Assets lets you create, maintain, and add to your CIP assets as you spend money for material and labor to construct them. When you finish the assets and place them in service (capitalize them), Oracle Assets begins depreciating them. Control account An accounting segment status for an account combination. This type of account is used in subledgers such as Payables or Receivables. Control accounts are used to maintain special balances

for third parties per period. You should not change control accounts from a General Ledger responsibility; define and use security to protect your control accounts. Control amount A feature you use to specify the total amount available for payment of a recurring payment. When you generate invoices for a recurring payment, Oracle Payables uses the control amount and the total number of payments to determine the invoice amount. Cedit invoice An invoice you receive from a supplier representing a credit amount that the supplier owes to you. A credit invoice can represent a quantity credit or a price reduction. Credit items Any item you can apply to an open debit item to reduce the balance due for a customer. Oracle Receivables includes credit memos, on-account credits, and unapplied and on-account cash as credit items. Credit items remain open until you apply the full amount to debit items. Cross-validation rules Rules that restrict the user from entering invalid key flexfield segment value combinations during data entry. For example, you may set up a cross-validation rule that disallows using department segments with balance sheet accounts. Posted by Vilas Revankar at 3:10 PM 0 comments Labels: DEFINITIONS Thursday, July 23, 2009 D Debit invoice An invoice you generate to send to a supplier representing a credit amount that the supplier owes to you. A debit invoice can represent a quantity credit or a price reduction. Debit items Any item that increases your customers balance. Oracle Receivables includes invoices, debit memos, and chargebacks as debit items. Debit items remain open until the balance due is zero. Debit memos Debits that you assign to a customer to collect additional charges. For example, you may want to charge a customer for unearned discounts taken, additional freight charges, taxes, or finance charges. Deferred depreciation The difference between the depreciation expense for an asset in a tax book and its depreciation expense in the associated corporate book. Descriptive Flexfield

A field that your organization can extend to capture extra information not otherwise tracked by Oracle Applications. A descriptive flexfield appears in your window as a single character, unnamed field. Your organization can customize this field to capture additional information unique to your business. Direct debit An agreement made with your customer to allow the transfer of funds from their bank account to your bank account. The transfer of funds occurs when the bank receives a document or tape containing the invoices to be paid. Distribution line In Oracle Payables and Oracle Projects, a line corresponding to an accounting transaction for an expenditure item on an invoice, or a liability on a payment. Distribution set In Oracle Receivables, a predefined group of general ledger accounting codes that determine the debit accounts for other receipt payments. Receivables lets you relate distribution sets to receivables activities to speed data entry. In Oracle Payables, a feature you use to assign a name to a predefined expense distribution or combination of distributions (by percentage). Payables displays on a list of values the list of Distributions Sets you define. With Distribution Sets, you can enter routine invoices into Payables without having to enter accounting information. Document sequence A unique number that is manually or automatically assigned to documents such as bank statements in Oracle Cash Management, invoices in Oracle Receivables, or journal entries in Oracle General Ledger. Also used to provide an audit trail. Many countries require all documents to be sequentially numbered. Document sequencing can also be used in Public Sector implementations to comply with reporting and audit requirements. Dynamic insertion An optional Accounting Flexfields feature that allows you to create new account combinations during data entry in Oracle Applications. By enabling this feature, it prevents having to define every possible account combination that can exist. Define cross-validation rules when using this feature. Posted by Vilas Revankar at 3:24 PM 0 comments Labels: DEFINITIONS Wednesday, July 22, 2009 E Earned discounts Discounts your customers are allowed to take if they remit payment for their invoices on or before the discount date. The discount date is determined by the payment terms assigned to an invoice. Oracle Receivables takes into account any discount grace days you assign to this customers credit

profile. For example, if the discount due date is the 15th of each month, but discount grace days is 5, your customer must pay on or before the 20th to receive the earned discount. Discounts are determined by the terms you assign to an invoice during invoice entry. Electronic Funds Transfer (EFT) A method of payment in which your bank transfers funds electronically from your bank account into another bank account. In Payables your bank transfers funds from your bank account into the bank account of a supplier you pay with the Electronic payment method. Encumbrance accounting An Oracle Financials feature you use to create encumbrances automatically for requisitions, purchase orders, and invoices. The budgetary control feature uses encumbrance accounting to reserve funds for budgets. If you enable encumbrance accounting only, you can create encumbrances automatically or manually; however, you cannot check funds online and Oracle Financials does not verify available funds for your transaction. Examples of encumbrance types are commitments (requisition encumbrances) and obligations (purchase order encumbrances). Posted by Vilas Revankar at 3:31 PM 0 comments Labels: DEFINITIONS Tuesday, July 21, 2009 F Factoring The process by which you sell your accounts receivable to a financial institution (such as a bank) in return for cash. Financial institutions usually charge a fee for factoring. Finance charges Additional charges that you assign to customers for past due items. You specify whether you want to charge your customers finance charges in their customer profiles. Finance charges can be included on your customers statements and dunning letters. Financial Statement Generator A powerful and flexible report building tool for Oracle General Ledger. You can design and generate fiancial reports, apply security rules to control access to data via reports, and use specific features to improve reporting productivity. Flexfield An Oracle Applications field made up of segments. Each segment has an assigned name and a set of valid values. Oracle Applications uses flexfields to capture information about your organization. There are two types of flexfields: key flexfields and descriptive flexfields. Foreign currency conversion A process in Oracle Applications that converts a foreign currency transaction into your functional

currency using and exchange rate you specify. Foreign currency revaluation A process that allows you to revalue assets and liabilities denominated in a foreign currency using a period-end (usually a balance sheet date) exchange rate. Oracle General Ledger automatically revalues your foreign assets and liabilities using the period-end exchange rate you specify. Revaluation gains and losses result from fluctuations in an exchange rate between a transaction date and a balance sheet date. General Ledger automatically creates a journal entry to adjust your unrealized gain/loss account when you run revaluation. Foreign currency translation A process that allows you to restate your functional currency account balances into a reporting currency. Oracle General Ledger multiplies the average, periodic, or historical rate you define by your functional currency account balances to perform foreign currency translation. Posted by Vilas Revankar at 3:37 PM 0 comments Labels: DEFINITIONS Monday, July 20, 2009 G Posted by Vilas Revankar at 3:39 PM 0 comments Labels: DEFINITIONS Sunday, July 19, 2009 H Posted by Vilas Revankar at 3:40 PM 0 comments Labels: DEFINITIONS Saturday, July 18, 2009 I Posted by Vilas Revankar at 3:43 PM 0 comments Labels: DEFINITIONS Friday, July 17, 2009 J Journal details tables Journal details are stored in the database tables GL_JE_BATCHES, GL_JE_HEADERS, and GL_JE_LINES. Journal Import

A General Ledger program that creates journal entries from transaction data stored in the General Ledger GL_INTERFACE table. Journal entries are created and stored in GL_JE_BATCHES, GL_JE_HEADERS, and GL_JE_LINES Posted by Vilas Revankar at 3:44 PM 0 comments Labels: DEFINITIONS Thursday, July 16, 2009 K Key flexfield An intelligent key that uniquely identifies an application entity. Each key flexfield segment has a name you assign, and a set of valid values you specify. Each value has a meaning you also specify. You use this Oracle Applications feature to build custom fields used for entering and displaying information relating to your business. The following application uses the listed Key Flexfields: Oracle General Ledger - Accounting Oracle Projects - Accounting, Category Flexfield, Location, Asset Key. Oracle Payables - Accounting, System Items. Oracle Receivables - Accounting, Sales Tax Location, Systems Items, Territory. Posted by Vilas Revankar at 3:44 PM 0 comments Labels: DEFINITIONS Wednesday, July 15, 2009 L Legal entity An organization that represents a legal company for which you prepare fiscal or tax reports. You assign tax identifiers and other relevant information to this entity. Lockbox A service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing. Lockbox processors set up special postal codes to receive payments, deposit funds and provide electronic account receivable input to corporate customers. Lookups In Oracle Receivables, codes that you define for the activities and terminology you use in your business. These codes appear in lists of values in many Receivables windows. For example, you can define Lookups for personal titles, such as Sales Manager, so you can refer to people using these titles. In Oracle Payables, a feature you use to create reference information you use in your business. This reference information appears in lists of values for many of the fields in Payables windows. There are three basic kinds of Lookups: supplier, payables, and employee. With Lookups you can create Pay Groups, supplier types, and other references used in Payables. Posted by Vilas Revankar at 3:44 PM 0 comments Labels: DEFINITIONS

Tuesday, July 14, 2009 M MassAllocations A single journal entry formula that allocates revenues and expenses across a group of cost centers, departments, divisions, and so on. For example, you might want to allocate your employee benefit costs to each of your departments based on headcount in each department. Matching In Oracle Payables and Oracle Assets, the process of comparing purchase order, invoice, and receiving information to verify that ordering, billing, and receiving information is consistent within accepted tolerance levels. Payables uses matching to control payments to suppliers. You can use the matching feature in Payables if you have Purchasing or another purchasing system. Payables supports two-, three-, and four-way matching. 2-way matching The process of verifying that purchase order and invoice information matches within accepted tolerance levels. Payables uses the following criteria to verify two-way matching: Invoice price <= Order price Quantity billed <= Quantity ordered 3-way matching The process of verifying that purchase order, invoice, and receiving information matches within accepted tolerance levels. Payables uses the following criteria to verify three-way matching: Invoice price <= Purchase Order price Quantity billed <= Quantity ordered Quantity billed <= Quantity received 4-way matching The process of verifying that purchase order, invoice, and receiving information matches within accepted tolerance levels. Payables uses the following criteria to verify four-way matching: Invoice price <= Order price Quantity billed <= Quantity ordered Quantity billed <= Quantity received Quantity billed <= Quantity accepted Matching tolerances The acceptable degrees of variance you define for matched invoices and purchase orders. Payables measures variance between quantities and item prices for invoices and purchase orders. You can define tolerances for order quantities, including Maximum Quantity Ordered and Maximum Quantity Received. You can also define tolerances for price variances, including exchange rate amounts, shipment amounts, and total amounts. If any of the variances between a matched invoice and purchase order exceed the tolerances you specify, Validation places the invoice on hold.

Miscellaneous receipts A feature that lets you record payments that you do not apply to debit items, such as refunds and interest income. Mixed invoice Mixed Invoices are invoices or credit/debit memos for which you can perform both positive and negative matching to purchase orders and to other invoices. For example, you can enter an invoice for -$100 with Invoice Type Mixed. You can match to an invoice for $-200, and match to a purchase order for $100. Multiple organizations The ability to define multiple organizations and the relationships among them within a single installation of Oracle Applications. These organizations can be sets of books, business groups, legal entities, operating units, or inventory organizations. Posted by Vilas Revankar at 3:45 PM 0 comments Labels: DEFINITIONS Monday, July 13, 2009 N Natural account segment In Oracle General Ledger, the segment that determines whether an account is an asset, liability, owners equity, revenue, or expense account. When you define your chart of accounts, you must define one segment as the natural account segment. Each value for this segment is assigned one of the five account types. Natural Application Only A Transaction Type parameter that, if enabled, does not let you apply a transaction to a debit item if the application will reverse the sign of the debit item (for example, from a positive to a negative balance). Natural Application does not apply to chargebacks and adjustments. Posted by Vilas Revankar at 3:45 PM 0 comments Labels: DEFINITIONS Sunday, July 12, 2009 O Offset account An offset account is used to balance journal entries in your General Ledger. For example, offsetting accounts for a guarantee are the Unbilled Receivables and the Unbilled Revenue accounts. On-account Payments where you intentionally apply all or part of the payment amount to a customer without reference to a debit item. On-account examples include prepayments and deposits.

On-account credits Credits that you assign to your customers account that are not related to a specific invoice. You can create on-account credits in the Transactions window or using AutoInvoice. On-account payment The status of a payment of which you apply all or part of its amount to a customer without reference to a specific debit item. Examples of these are prepayments and deposits. operating unit An organization that partitions data for subledger products (AP, AR, PA, PO, OE). It is roughly equivalent to a single pre-Multi-Org installation. Organization A business unit such as a company, division, or department. Organization can refer to a complete company, or to divisions within a company. Typically, you define an organization or a similar term as part of your account when you implement Oracle Financials. Overapplication A Transaction Type parameter that, if enabled, lets you apply a transaction to a debit item even if it will reverse the sign of the debit item (for example, from a positive to a negative balance). Overapplication applies to debit items such as debit memos, deposits, guarantees, credit memos, and on-account credits. Posted by Vilas Revankar at 3:46 PM 0 comments Labels: DEFINITIONS Saturday, July 11, 2009 P Pay Group A feature you use to select invoices for payment in a payment batch. You can define a Pay Group and assign it to one or more suppliers. You can override the suppliers Pay Group on individual invoices. For example, you can create an Employee Pay Group to pay your employee expenses separately from other ivoices. Payment document A medium you use to instruct your bank to disburse funds from your bank account to the bank account or site location of a supplier. With Oracle Payables you can make payments using several types of payment documents. You can send your supplier a check that you manually create or computer-generate. You can instruct your bank to transfer funds to the bank account of a supplier. For each payment document, you can generate a separate remittance advice. Payables updates your invoice scheduled payment the same way regardless of which payment document you use to pay an invoice. Payables also allows you to instruct your bank to pay in a currency different from your functional currency, if you enable the multiple currency system option and define a multi-currency payment format.

Payment method In Oracle Payables, a feature that allows you to make invoice payments using a variety of methods. You can disburse funds using checks, electronic funds transfers, and wire transfers. Oracle Payables updates your payment schedules the same way regardless of which payment method you use. You can assign a payment method to suppliers, supplier sites, invoice payment schedule lines, and payment formats. You can then assign one or more payment formats to a bank account. You can have multiple payment formats for each payment method. Payment schedules The due date and discount date for payment of an invoice. For example, the payment term 2% 10, Net 30 lets a customer take a two percent discount if payment is received within 10 days with the full invoice amount due within 30 days of the invoice date. Payment terms The due date and discount date for payment of a transaction. For example, the payment term 2% 10, Net 30 lets a customer take a two percent discount if payment is received within 10 days; after 10 days, the entire balance is due within 30 days of the invoice date with no applicable discount. PO Default Enter PO Default as the invoice type if you know the purchase order you want to match to, but you do not know to which purchase order shipments or distributions you want to match. When you enter a PO Default invoice in the Invoice Workbench, Payables prompts you to enter the purchase order number and then automatically copies the supplier name, supplier number, currency, and payment terms from that purchase order to the invoice. When you choose the Match button, Payables retrieves all purchase order shipments or receipt lines associated with the specified purchase order. You can then match to any shipment, distribution, or receipt line. Profile option A set of options that control access to certain features throughout Oracle Applications and determines how data is processed. Generally, profile options can be set at the Site, Application, Responsibility, and User levels. Proxima payment terms A payment term you define for invoices due on the same day each period, such as your credit card or telephone bills. When you define a proxima payment term, you specify a cutoff day and the day of month due. This type of payment term is also used with consolidated billing invoices. Purchase requisition An internal request for goods or services. A requisition can originate from an employee or from another process, such as inventory or manufacturing. Each requisition can include many lines, generally with a distinct item on each requisition line. Each requisition line includes at least a description of the item, the unit of measure, the quantity needed, the price per item, and the Accounting Flexfield you are charging for the item. Also known as internal requisition. Posted by Vilas Revankar at 3:46 PM 0 comments

Labels: DEFINITIONS Friday, July 10, 2009 Q Quick payment A feature you use to create an automatic payment on demand. With Quick payment, you choose the invoices you want to pay, and Payables creates a single payment. You can also void and reissue a Quick payment if your printer spoils it while printing. QuickCash A feature that lets you enter receipts quickly by providing only minimal information. After using QuickCash to enter your receipts, you can post your payment batches to your customer accounts by running Post QuickCash. QuckMatch invoice Enter QuickMatch as the invoice type if you want to match an invoice to all shipments or receipt lines on a purchase order. When you enter a QuickMatch invoice in the Invoice Workbench, Payables prompts you to enter the purchase order number and automatically enters the supplier name, supplier number, currency, and payment terms for the invoice. When you choose the Match button, Payables automatically navigates to the match window, and selects all shipments that have an unbilled quantity, as long as they are not finally closed. You can choose to complete the match or override the matching information. Posted by Vilas Revankar at 3:46 PM 0 comments Labels: DEFINITIONS Thursday, July 9, 2009 R Receipt batch In Oracle Receivables a group of payments that you enter together to reduce data entry errors, share various default values, and to group them according to a common attribute. For example, you might add all payments from the same customer to a batch. Payments within the same batch share the same batch source and batch name. Receivables displays any differences between the control and actual counts and amounts. Receipt batch source A name that you use to refer to how your company accounts for receipts. Receipt batch sources relate your receipt batches to both the bank and the accounting information required for recording and posting your receipts. Receipt class Automatic receipt processing steps that you relate to your payment methods. You can choose whether to confirm, remit, and clear automatic receipts.

Receipt source Your name for a source from which your company receives cash. Your receipt sources determine the accounting for payments that are associated with them. Receipts that you deposit in different banks belong in different payment sources. Receivable activities Predefined Receivables activities used to define the general ledger accounts with which you associate your receivables activities. Responsibility A level of authority set up by your system administrator in Oracle Applications. A responsibility lets you access a specific set of windows, menus, set of books, reports, and data in an Oracle application. Several users can share the same responsibility, and a single user can have multiple responsibilities. Retained Earnings General Ledger automatically posts the net balance of all income and expense accounts from the prior year to the retained earnings account when you open the first period of the fiscal year. GL will automatically update the retained earnings as needed, when you post journal entries to the prior year. If you have multiple companies or balancing entities within a set of books, General Ledger should automatically create a retained earnings account for each company or balancing entity. If an auditable journal entry is needed at year end you can submit the Create Income Statements Closing Journals program. Posted by Vilas Revankar at 3:48 PM 0 comments Labels: DEFINITIONS Wednesday, July 8, 2009 S Security rules (Order Management) The control over the steps in the order process where you no longer allow users to add, delete or cancel order or return lines or change order or return information. Segments The building blocks of your chart of accounts in Oracle General Ledger. You define the structure and meaning of individual segments when customizing a flexfield. Each account is comprised of multiple segments. Commonly used segments include company, cost center, department, account, and product. Standard memo lines A type of line that you assign to an invoice when the item is not an inventory item (for example, Consulting Services). You define standard memo lines to speed data entry when creating your transactions.

Posted by Vilas Revankar at 3:48 PM 0 comments Labels: DEFINITIONS Tuesday, July 7, 2009 T Posted by Vilas Revankar at 3:48 PM 0 comments Labels: DEFINITIONS Monday, July 6, 2009 U Unapplied payment The status of a payment for which you can identify the customer, but you have not applied or placed on account all or part of the payment. For example, you receive a check for $1200.00 and you apply it to an open debit item for $1000.00. The remaining $200.00 is unapplied until you either apply the payment to a debit item or place the amount On Account. Unearned discounts Discounts your customers are allowed to take if they pay for their invoices after the discount date. (The discount date is determined by the payment terms.) You can specify at the system level whether you want to allow customers to take unearned discounts. Unearned revenue Revenue received and recorded as a liability or revenue before the revenue has been earned by providing goods or services to a customer. Unidentified payment The status of a payment for which the customer is unknown. Oracle Receivables retains unidentified payments for you to process further. Posted by Vilas Revankar at 3:48 PM 0 comments Labels: DEFINITIONS Sunday, July 5, 2009 V Value set A group of values and related attributes you assign to an account segment or to a descriptive flexfield segment. Values in each value set have the same maximum length, validation type, alphanumeric option, and so on. Posted by Vilas Revankar at 3:48 PM 0 comments Labels: DEFINITIONS

Saturday, July 4, 2009 W Write-off Limits Limits that you set at the system and user levels for creating receipt write-offs. Oracle Receivables enforces the limits that you define when users write-off receipts. Users can only write off receipt balances within their user limit for a given currency and the total cumulative write-off amount cannot exceed the system level write-off limit.