Hi Friends,
Can any body explain me how to upload previous invoices data into APPS payables module and what is the accounting treatment for that.
Expecting replay soon...
Thanks in advance
Regards,
VENKAT
Payables Invoice Data
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muzaffarnaim
- Posts: 66
- Joined: Fri Dec 15, 2006 4:59 pm
- Location: USA
Previous invoices data can be uploaded by using SQL Loader (Table level) or Data loader tool (Form Level).
In case of SQL Loader you will need to populate payables interface table first and then import them in payables by running 'payables invoice import' program. Otherwise by using Data Loader you can enter all invoices physically in Payables Invoice Entry form.
Accounting treatment will be the same in both the cases, means you will transfer that invoices into GL after validation and approval.
Muzaffar Naim
Oracle Consultant
In case of SQL Loader you will need to populate payables interface table first and then import them in payables by running 'payables invoice import' program. Otherwise by using Data Loader you can enter all invoices physically in Payables Invoice Entry form.
Accounting treatment will be the same in both the cases, means you will transfer that invoices into GL after validation and approval.
Muzaffar Naim
Oracle Consultant
Hi Muzaffar Naim.
It?s great to get response from you. I am expecting accounting part. If you don?t mind could you please tell me what is the accounting entries. Normal way if we create the Invoices we can get the following entries??
Example:
XYZ supplier having 4 invoices each Invoice amount is 1,000 Rs. If we will pass each invoice separately we can get the following entries.
Entry for creation of Invoice:
Expenses Account Dr. 1,000
AP Liability A/c Cr. 1,000
Payment Entry :
AP Liability A/c Dr. 1,000
Cash Clearing A/c Cr. 1,000
After Reconciliation with Bank Statement Lines:
Cash Clearing A/c Dr. 1,000
Bank A/c Cr. 1,000
1. If we need to pass the entry for whole amount (4,000 Rs.) can it be possible or not? If possible what is the entry for it?
2. Either we have to pass the payment entry or not for this invoices? If we have to pass what about cheque numbers?
3. If Cash Management module also implemented either we will reconcile it or not?
Please give me proper suggestion?
Expecting soon?
Thanking you?
It?s great to get response from you. I am expecting accounting part. If you don?t mind could you please tell me what is the accounting entries. Normal way if we create the Invoices we can get the following entries??
Example:
XYZ supplier having 4 invoices each Invoice amount is 1,000 Rs. If we will pass each invoice separately we can get the following entries.
Entry for creation of Invoice:
Expenses Account Dr. 1,000
AP Liability A/c Cr. 1,000
Payment Entry :
AP Liability A/c Dr. 1,000
Cash Clearing A/c Cr. 1,000
After Reconciliation with Bank Statement Lines:
Cash Clearing A/c Dr. 1,000
Bank A/c Cr. 1,000
1. If we need to pass the entry for whole amount (4,000 Rs.) can it be possible or not? If possible what is the entry for it?
2. Either we have to pass the payment entry or not for this invoices? If we have to pass what about cheque numbers?
3. If Cash Management module also implemented either we will reconcile it or not?
Please give me proper suggestion?
Expecting soon?
Thanking you?
-
muzaffarnaim
- Posts: 66
- Joined: Fri Dec 15, 2006 4:59 pm
- Location: USA
Dear Venkat
Normally all the balances are entered directly into GL and we don't upload previous invoice data except open prepayment invoices but some clients ask to upload previous invoices data also for lets say 6 months or 1 year it depends. But the thing is if they want previous data means they want each and every information AS IT IS what they have in their legacy system, like invoice numbers; invoice date; cheque numbers etc, why; because at the end of fiscal year they want to get all their fiscal year reports, financial statements, budgets variances, audit reports from their new system, otherwise their is no need to enter previous invoices.
Now lets jump on the questions:
If we need to pass the entry for whole amount (4,000 Rs.) can it be possible or not? If possible what is the entry for it?
<span id='hl' style='background-color: yellow'>if you pass the entry for whole amount for some particular supplier then actually you are killing the purpose of loading previous invoices. Accounting entry can be handled by entering multiple distributions but what about invoice numbers, invoice date and all these information. thats why what i suggest you should enter each and every invoice seperately in accordance with their case. </span id='hl'>
Either we have to pass the payment entry or not for this invoices? If we have to pass what about cheque numbers?
<span id='hl' style='background-color: yellow'>Yes you would have to pay these all invoices to complete accounting cycle. As for cheque numbers you are right dummy cheque numbers can not be used thats why you would have to define previous document numbers also to pay each and every invoice seperately with their exect cheque number. </span id='hl'>
If Cash Management module also implemented either we will reconcile it or not?
<span id='hl' style='background-color: yellow'>this is what i am not sure about it but kindly check if you just select payment accounting method (payables option) to 'when payment is issued' at the time of tranferring previous data into GL without any interaction of cash management and after that; you change it to BOTH(means 'when payment is issued' and 'when payment clears') to setup your CM requirement for future. But i am not sure for calculating gain and loss and all that. </span id='hl'>
This is my suggestion if you want to follow otherwise kindly let me know what have you adobted alternative better approach.
Muzaffar Naim
Oracle Consultant
Normally all the balances are entered directly into GL and we don't upload previous invoice data except open prepayment invoices but some clients ask to upload previous invoices data also for lets say 6 months or 1 year it depends. But the thing is if they want previous data means they want each and every information AS IT IS what they have in their legacy system, like invoice numbers; invoice date; cheque numbers etc, why; because at the end of fiscal year they want to get all their fiscal year reports, financial statements, budgets variances, audit reports from their new system, otherwise their is no need to enter previous invoices.
Now lets jump on the questions:
If we need to pass the entry for whole amount (4,000 Rs.) can it be possible or not? If possible what is the entry for it?
<span id='hl' style='background-color: yellow'>if you pass the entry for whole amount for some particular supplier then actually you are killing the purpose of loading previous invoices. Accounting entry can be handled by entering multiple distributions but what about invoice numbers, invoice date and all these information. thats why what i suggest you should enter each and every invoice seperately in accordance with their case. </span id='hl'>
Either we have to pass the payment entry or not for this invoices? If we have to pass what about cheque numbers?
<span id='hl' style='background-color: yellow'>Yes you would have to pay these all invoices to complete accounting cycle. As for cheque numbers you are right dummy cheque numbers can not be used thats why you would have to define previous document numbers also to pay each and every invoice seperately with their exect cheque number. </span id='hl'>
If Cash Management module also implemented either we will reconcile it or not?
<span id='hl' style='background-color: yellow'>this is what i am not sure about it but kindly check if you just select payment accounting method (payables option) to 'when payment is issued' at the time of tranferring previous data into GL without any interaction of cash management and after that; you change it to BOTH(means 'when payment is issued' and 'when payment clears') to setup your CM requirement for future. But i am not sure for calculating gain and loss and all that. </span id='hl'>
This is my suggestion if you want to follow otherwise kindly let me know what have you adobted alternative better approach.
Muzaffar Naim
Oracle Consultant
-
kumar_apps
- Posts: 14
- Joined: Thu Nov 30, 2006 11:16 am
- Location: India
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