--> What is the process/steps for Vendor Conversion?
Insert the Vendor info into the interface tables and perform the required validations: AP_SUPPLIERS_INT AP_SUPPLIER_SITES_INT AP_SUP_SITE_CONTACT_INT Run the below programs to load the data into the Base tables: Supplier Open Interface Import Supplier Sites Open Interface Import Supplier Site Contacts Open Interface Import
--> What is Invoice Tolerance?
We can define the matching and tax tolerances i.e how much to allow for variances between invoice, purchase order, receipt, and tax information during matching. You can define both percentage¿based and amount¿based tolerances.
--> Explain the set up used for Automatic or Manual Supplier Numbering.
In the Financials Options window, you can set the Supplier Number entry option to either Autimoatic or Manual ¿ Automatic: The system automatically assigns a unique sequential number to each supplier when you enter a new supplier. ¿ Manual: You enter the supplier number when you enter a supplier
--> What is Contract PO?
Contract PO is created when you agree with your suppliers on specific terms and conditions without indicating the goods and services that you will be purchasing.
--> What is a Payable 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.
--> In which table we can find the vendor number?
--> Give the cycle from creating an invoice to transferring it to GL in AP.
1)Create Invoice 2)Validate Invoice 3)Create Accounting entries using Payables Accounting Process 4)Submit the Payables Transfer to General Ledger program to send invoice and payment accounting entries to the General Ledger interface. 4)Journal Import (GL) 5)Journal Post (GL)
--> What are the different types of Invoices in Payables?
Standard, Credit Memo, Debit Memo, Expense Report,PrePayment, Mixed, PO Default
--> You have created a new SOB. How will you attach this SOB to AP?
Go to Payables Manager for the appropriate Operating Unit. Navigation:Setup-->->Set of Books-->->choose.
--> In AP the suppliers didn¿t visible in India Creditors Ledger Report Parameter?
pls check whether that particular supplier is available in Suppliers addition inforamtion or not.
--> What will accrue in Payables?
Expenses and Liabilities
--> What is a Hold? Explain the types of Hold.
Payables lets you apply holds manually on an invoice, Payments etc to prevent the payment from being made or to prevent the accounting entries to be created etc. Some of the Payable holds are --> Invoice Hold, Accounts Hold, Funds Hold, Matching Hold, Variance Hold, Misc hold.
--> Which module is the owner of Vendor/Supplier tables?
--> What is Payment Terms?
Payment Terms let you define the due date or the discount date , due amount or discount amount. Once the payment terms are defined, you can attach these to the suppliers and supplier sites and these terms will be automatically populated once the invoice is entered for a supplier site.
--> How many key flexfields are there in Payables?
No Key Flexfields in AP
--> What is the Distribution Type while entering the Invoice?
Item, Tax, Miscellaneous,Freight, Withholding Tax
--> What are the Prepayment types?
Temporary and Permanent
--> What is Aging Periods?
Aging Periods window are the time periods for the Invoice Aging Report. The Invoice Aging Report provides information about invoice payments due during four periods you specify.
--> Whats the difference between the 'Payables Open Interface Import' Program and the 'Payables Invoice Import' program?
Payables Open Interface --> for importing regular invoices Payables Invoice Import --> for importing expense reports. In 11i renamed as Expense Report Import.
--> What is prepayment & steps to apply it to an Invoice?
Prepayment is a type pf invoice that you enter to make an advance payment to a supplier or employee. To Apply it to an Invoice ,in the Invoices window, query either the prepayment or the invoice to which you want to apply it. Choose the Actions button and select the Apply/Unapply Prepayment check box. Click OK.
--> How you will transfer payables to general ledger?
Create Accounting. Transfer the transactions to GL_Interface Import the Journals Post the Journals
--> What program is used to transfer AP transactions to GL?
Payables Transfer to General Ledger Program
--> What is use of AP Accounting Periods?
In Payables accounting periods have to be defined to enter and account for transactions in these open periods. Payables does not allow transaction processing in a period that has never been opened. These periods are restricted to Payables only. The period statuses available in Payables are Never Opened, Future,Open, Closed, and Permanently Closed.
--> What are the different interface programs in AP?
Payables Open Interface Import to load Invoices and other transactions. Supplier Open Interface Import to load Suppliers. Supplier Sites Open Interface Import to load Supplier sites. Supplier Site Contacts Open Interface Import to load Supplier Site contacts.
--> What is Debit Memo & Credit Memo in Payables?
Credit Memo is a negative amount invoice you receive from a supplier representing a credit. Debit Memo is a negative amount invoice you send to notify a supplier of a credit you recorded for goods or services purchased.