Account Payables FAQs

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1. Types of Payable Invoice? 2. Which tables that payable invoice information is going to get store? AP_CHECKS_ALL 3. What are special invoices? 4. How many Key flex field available in Payables? 5. What is the prerequisite to pay the payment for given invoice? 6. How to setup and define withholding tax type of invoice? 7. How many “Account Use” that we can setup in bank window? 8. What do you mean by payment terms? 9. What do you mean by distribution sets? And how many types are there? 10.How many account methods that payable support? 11.Supplier Auto generation can be setup using PO or AP options? 12.Can we Delete Supplier? 13.Can we Merge Supplier? 14.What is use of Special Calendar? 15.Difference between debit memo and credit memo? 16.Difference between PO default and Quick Match? 17.To whom we can maintain prepayment? 18.Types of Prepayments. 19.Types of payments. 20.What do you mean by Payable Documents? 21.What do you mean by Void Check? 22.What do you mean by disbursement type and what are they? 23.How many supplier site uses we can setup and what are they? 24.Difference between invoice and invoice batch 25.Difference between payment and payment batch

26.What is the accounting entry for making payment? 31.Which GL Accounts that we need to setup for Bank Account? 28.Supplier Information would be incomplete without? 29.What is the accounting entry for creation of invoice? 30.What is the prerequisite to maintain prepayment to employee 27.What are the prepayment status we have? Payables Invoice Types (9 + 2) Regular Invoice (9) 1) Standard 2) Debit Memo 3) Credit Memo 4) Pre-payment 5) Expense Report 6) PO Default 7) Quick Match 8) Mixed Invoice 9) Withholding Invoice Special Invoices (2) 1) Interest Invoice 2) Recurring Invoice 1) Standard Invoice: .

reduction could be price (or) quantity. Supplier Prepayment: It is an advance or prepayment given to the supplier in anticipation of goods or services. Note: Standard Invoice will allow the user to have invoice with only positive balance 2) Debit Memo: It is a Document (or) Information form customer to supplier requesting supplier to reduce the due. Prepayment is of two types: 1. 3) Credit Memo: It is a Document (or) Information form supplier to customer. Temporary: Adjustments are allowed (user can apply this payment to standard invoice) Eg: Employee Advances . reducing the due of customer. Employee Prepayment: It is an advance or prepayment given to the employee in anticipation of his future expenditure. Note: Debit Memo and Credit Memo type of invoices will allow the user to have invoice with only negative balance. 4) Prepayment: Pre payment you can maintain with following: i.It is a standard bill or invoice which we receive from supplier for the goods or services that which we purchased from him. ii. reduction could be price (or) quantity.

Permanent: No adjustments are allowed (user cannot apply this prepayment to standard invoice) Eg: Lease properties 5) Expense Report This type of invoice will dynamically get created by payable system when where we maintain prepayment with employee 6) P. Interest Invoice: This type of invoice will dynamically get created by payable system for all overdue invoices. default.2. 8) Mixed Invoice This type of invoice will allow the user to prepare invoice with positive as well as negative balance i.O Default In order to match automatically purchase order with invoice we will use P. 7) Quick Match We use Quick match whenever we have multiple shipments. 9) Withholding Invoice This type of invoice will dynamically get created by payable system when where we hold tax percentage from the supplier.O. Recurring Invoice: ..e. using this type of invoice we can be able to prepare standard invoice. Special Invoice(2): 1. 2. debit memo and credit memo.

you have to enable “Allow Multiple Currencies” in Payable Options. without invoice we will made a payment. recurring calendar.This type of invoice will dynamically get created by payable system based on the setup we made. Multi Invoices and Payments: If Invoice currency differs from functional currency (set of books currency). setup could be selection supplier. Selection Criteria for Payment Batch: i. Food and Meals etc. Eg: Rent In this scenario. Paygroup Pay through Date Low and High Payment Priority Supplier Minimum Outlay and Maximum Outlay 6. we will create one recurring invoice template for creating the invoices. Invoice Batch: Group of invoices are called Invoice Batches. v. Eg: Airfare.. Expense Report: Employee reimbursement expenses will incurred in expense report. payment terms. Payment Batch: We can make the payment to n number of invoices with the help of payment batch. iii. Recurring Invoice: Sometimes. recurring amount etc. ii. 2. iv. 3. distribution sets. 4. Some Important definitions in Accounts Payable: 1. 5. And create .

Difference between Manual and Quick Payment types: If our supplier don’t want to take any cheques. Due to some reasons immediately we prepare debit memo and send it to the supplier. Payment Methods: Cheque payment method. Quick and Refund 12. E. And also we have to define the daily rates. Payment Types: Manual.T (Electronic Funds Transfer). Void Cheque: Void is used for payment level. 8. This is known as Zero Payment Invoice. 14.one new payment format with Single Currency and assign this format to Payable Documents in Bank level. Wire Transfer and Clearing 13. Return to Supplier (RTS): If we are going to return goods to supplier. just he want cash. 10. in this scenario we will use manual payments. 7. 9. Cancel Cheque: Cancel is used for Invoice level. Zero Payment Invoices: If we purchase material from our supplier and then payment is also done. system will automatically generate Debit Memo. This is known as RTS.F. 11. . Future dated payments: Giving post-dated cheques to our supplier.

. that time only we will use Quick payments.If we make the payment through cheques.

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