This forum is to discuss different features/issues of Oracle Financials modules ( GL - General Ledger, AP - Accounts Payable, AR - Accounts Receivable, FA - Fixed Assets & CM - Cash Management ).
In our organization, they have given Post dated checks for paying rent for 12 months in advance.
Please tell me how to enter this transaction in oracle apps AP Module. What are the setups required for this issue.
For rent payment in advance with post dated checks, you have to enter Prepayment Invoice and go to pay in full and & select payment type quick , enter payment details as normal payments and select payment method check-future dated and maturity date then save payment.
As per your Issue Here Create a Prepayment and Apply Montly Invoces towards that Prepayment. But here for Prepayment you have issued Posted Cheque. Is it Correct.
Make one more Assets book and this advance payment make as a assets then run every month deprecation so automatically it will deduct the amount from the payment