Oracle Payables

Oracle Payables module is used to enter supplier invoice and payment transactions and records and manages accounting data for all suppliers. It is also an integral part of the purchasing system: Deliveries and invoices are managed according to suppliers. Invoices are paid with the payment function. The payment function supports all standard payment methods (such as checks and transfers) and it also covers country-specific payment methods.

Oracle payables is integrated with accounting rules and purchasing functionality. A variety of currency and payment options are used. Postings made in Accounts Payable are simultaneously recorded in the General Ledger where different G/L accounts are updated based on the transaction involved.


Key Functions

• Flexible chart of accounts and reporting structures
• Support shared service centers with multi-org access
• Support global accounting and tax requirements
• Automatically create supplier records from external sources
• Manage suppliers, including merge and purge functionality
• Import invoices from Oracle and non Oracle products
• Receive invoices via Oracle iSupplier Portal
• Provide self-service inquiry of invoice and payment status
• Specify unique business rules for invoice routing & approval
• Centralize non-invoice disbursement requests
• Pay on receipt (ERS) or advance shipment notice
• Automatically create debit memos for returned items
• Match credit and debit memos to purchase orders
• Generate electronic payments in EDI, XML, or other standard, global formats
• Flexible payments option like Third Party Payments allows suppliers to specify a related trading partner to be paid on their behalf.
• Achieve faster approval cycles by utilizing Parallel approval for invoice that allows all approvers to receive notifications simultaneously upon invoice submission.
• Complete flexibility to specify payment discounts terms either in fixed monetary amounts or calculated on a percentage basis.