R12 changes in Oracle Financials
1. Describe ledgers versus Set of Books. Explain ledger sets
2. Describe that responsibilities are changing.
3. Describe the changes and new functionality for GIS or Advanced Global Intercompany
4. Explain SLA
5. Brief the major updates for FA.
6. Describe new functionality in Payables for Assets
7. Describe the changes for Vendors/Suppliers, Banks, TAX all being centralized
General Ledger
1. General Ledger now has Ledgers. Replaces Set of Books.
2. A ledger Determines the currency, Chart of Accounts, Accounting Method, Ledger
Processing Options and Subledger accounting method.
3. Ledgers are defined when you create accounting setups in Accounting Setup
Manager.
Ledger Set – Assign to single Responsibility
Logical grouping of ledgers with the same chart of Accounts and
Calendar /Period type. The Calculation Basis for
cross/multiledger Inquiry, Reporting, and shared services
operations.
- Opening/Closing Period
- Creating period closing journals, Allocations & Recurring Journals
- Translating Balances
- Reporting
Responsibilities
Responsibilities
1.One responsibility can now be used to access multiple legal entities and ledgers.
2.Data Access Sets are used to control access.
3.When submitting a concurrent request you can submit the report for one or all the
ledgers/Legal entities that you have been given access to.
4.GL data access profile option replaces GL set of books.
Intercompany New Features
1.New separate product
2.Name: Advanced Global Intercompany System - AGIS
3.Ability to create invoices (AR and AP)
4.Multiple recipients Support
5.Proration of transaction distribution amounts
6.Upload Transaction Batches created in Excel
Showing posts with label Post to General Ledger. Show all posts
Showing posts with label Post to General Ledger. Show all posts
Sunday, July 26, 2009
Monday, May 18, 2009
Oracle Accounts Payable
Overview of Accounts Payable
Oracle Payables contains four major processes:
Set up Suppliers: Before entering invoices for a new supplier (vendor), you need to setup the supplier in Oracle Payables
Enter and Approve invoices: You can enter and approve invoices individually or in batches.
Pay invoices: You can also pay approved invoices individually or in batches by check or electronically.
Post transactions to the general ledger: You can transfer the invoices and payment accounting distributions and audit information to the general ledger interface. You can then use your general ledger system to import this information and create entries.
Accounts Payable Questionnaire for Client:
1. Overview of the Accounts Payable operations.
2. Provide samples of vendor master records.
3. Do you differentiate vendor sites which can receive payments and sites which
cannot receive payments?
4. Describe the invoice vouchering process.
5. Are recurring expense distributions for fixed or varying amounts?
6. Explain Payment Terms List, Interest Charges, and Discounts?
7. Should invoices be matched completely, partially or both?
8. Explain Invoice Approval Process? Describe the approval process when invoices
need to be placed on hold and manually released?
9. What requirement is there to process employee expense reports? Please describe.
Provide Sample.
10. What is the current process to generate expense payments to employees?
11. Do your employees have company credit cards? How are company credit cards
managed (issued, audited, reconciled, etc.)?
12. List of Supplier / Payment Banks
13. Is there a requirement to use Electronic Funds Transfer?
14. Is there a requirement to use Wire Transfers?
15. Is there a requirement to process Automatic Payments?
16. Is there a requirement to process Manual Payments? If so, is a separate bank
account used?
17. Is there a requirement to process Partial Payments?
18. Is there a requirement to process Pre-Payments?
19. Is there a requirement to process Recurring Payments?
20. Is there a requirement to process immediately available ‘Quick Checks’?
21. What is the current procedure for vendor advances?
22. How are vendor advances reconciled when the vendor invoice is submitted?
23. Do you have, or do you require, a priority system for payments? Describe its use.
24. What is your current payment cycle? (How often do you print checks?)
25. If recurring payments are used, what is the normal period cycle for these
payments?
26. Is there a requirement to use Computer Generated checks?
27. What is your process to cancel checks?
28. Are all invoices paid in local currency and what currency is used? If not local,
list the foreign currencies used.
29. How many payment formats do you have? Provide samples.
30. Do you print the check number on the check/remittance or is it pre-printed?
31. Should a remittance advice note be produced, and when?
32. What is the policy/procedure for handling stop payments?
33. What is the policy/procedure for handling void payments if they have been
recorded?
34. What are the requirements for reporting tax payments (e.g.
company, rate or tax authority)?
35. Do you have to pay other businesses within the Group
36. Do you use Cash or Accrual Based Accounting?
37. Please provide all copies of Payable reports
38. How long do you do check reconciliation?
Oracle Payables contains four major processes:
Set up Suppliers: Before entering invoices for a new supplier (vendor), you need to setup the supplier in Oracle Payables
Enter and Approve invoices: You can enter and approve invoices individually or in batches.
Pay invoices: You can also pay approved invoices individually or in batches by check or electronically.
Post transactions to the general ledger: You can transfer the invoices and payment accounting distributions and audit information to the general ledger interface. You can then use your general ledger system to import this information and create entries.
Accounts Payable Questionnaire for Client:
1. Overview of the Accounts Payable operations.
2. Provide samples of vendor master records.
3. Do you differentiate vendor sites which can receive payments and sites which
cannot receive payments?
4. Describe the invoice vouchering process.
5. Are recurring expense distributions for fixed or varying amounts?
6. Explain Payment Terms List, Interest Charges, and Discounts?
7. Should invoices be matched completely, partially or both?
8. Explain Invoice Approval Process? Describe the approval process when invoices
need to be placed on hold and manually released?
9. What requirement is there to process employee expense reports? Please describe.
Provide Sample.
10. What is the current process to generate expense payments to employees?
11. Do your employees have company credit cards? How are company credit cards
managed (issued, audited, reconciled, etc.)?
12. List of Supplier / Payment Banks
13. Is there a requirement to use Electronic Funds Transfer?
14. Is there a requirement to use Wire Transfers?
15. Is there a requirement to process Automatic Payments?
16. Is there a requirement to process Manual Payments? If so, is a separate bank
account used?
17. Is there a requirement to process Partial Payments?
18. Is there a requirement to process Pre-Payments?
19. Is there a requirement to process Recurring Payments?
20. Is there a requirement to process immediately available ‘Quick Checks’?
21. What is the current procedure for vendor advances?
22. How are vendor advances reconciled when the vendor invoice is submitted?
23. Do you have, or do you require, a priority system for payments? Describe its use.
24. What is your current payment cycle? (How often do you print checks?)
25. If recurring payments are used, what is the normal period cycle for these
payments?
26. Is there a requirement to use Computer Generated checks?
27. What is your process to cancel checks?
28. Are all invoices paid in local currency and what currency is used? If not local,
list the foreign currencies used.
29. How many payment formats do you have? Provide samples.
30. Do you print the check number on the check/remittance or is it pre-printed?
31. Should a remittance advice note be produced, and when?
32. What is the policy/procedure for handling stop payments?
33. What is the policy/procedure for handling void payments if they have been
recorded?
34. What are the requirements for reporting tax payments (e.g.
company, rate or tax authority)?
35. Do you have to pay other businesses within the Group
36. Do you use Cash or Accrual Based Accounting?
37. Please provide all copies of Payable reports
38. How long do you do check reconciliation?
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