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Setting Up Payables in Fusion Cloud

1) Accounts Payable operations are set up at the business unit level in Oracle Fusion. This document outlines the steps to create a business unit, bank and bank accounts, and configure common options and roles to enable invoice and payment processing. 2) A business unit, bank, bank branch, and bank account are created. Common options, invoice options, payment options and methods are configured for the business unit. 3) Roles are assigned to a user using Identity Manager to allow invoice creation and payment as a procurement agent for the business unit. An example supplier is set up and an invoice is created, validated, and paid, generating accounting entries in the general ledger.

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207 views

Setting Up Payables in Fusion Cloud

1) Accounts Payable operations are set up at the business unit level in Oracle Fusion. This document outlines the steps to create a business unit, bank and bank accounts, and configure common options and roles to enable invoice and payment processing. 2) A business unit, bank, bank branch, and bank account are created. Common options, invoice options, payment options and methods are configured for the business unit. 3) Roles are assigned to a user using Identity Manager to allow invoice creation and payment as a procurement agent for the business unit. An example supplier is set up and an invoice is created, validated, and paid, generating accounting entries in the general ledger.

Uploaded by

chakri
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Accounts Payable operates at Business Unit Level in fusion.

So, we are going to create a Business unit to kick things off .


Create BU location
Navigate to Manage Locations

Go to Task
Create

After creation of Business Units Location,


Navigate to Define Business Units> Manage Business Unit> Go to Task

Manage Business Unit> Go to Task


Create a Business Unit

Attach the BU location, that we had created in the earlier steps

Click Save & Close Drop down, Select Add Business Unit Function

Select Assign Business Unit Business Function


And in the Business Unit Select Select & Add from the list of values

Select the Business unit functions


Also assign your Primary Ledger and Default Legal Entity

Click Ok

Business Function assigned for Asesh BU can be seen above


Now click Save and Go to Task > Manage Business Unit Set Assignment

Click Save and Close

Click Save & Close


For the Purpose of making payments in Payables, we need to create a bank, bank branch & bank
branch account.
Create Bank
Navigate to Manage Banks > Go to Task

Create the Bank


For this doc purpose we had created a Bank called Wells Fargo & Co
After creating the bank click save & close
Now select the Bank & Create a Branch

Click Create Branch

Key in the necessary details


Click Save & Close
Now select View Branches

Click on Create Account

After keying in the necessary details


Click Business Unit Access to attach the Business Unit

Click Ok

Click Save & Close

Click Done, to complete


Now navigate to Manage Common Options for Payables

Select Manage Common Options for Payables & Procurement


& for Business Unit select Select & Add from list of values
Click Apply and Go to Task

Scroll Down to Save & Close

We will be taken to the page below


Key in all the mandatory fields

In case foreign currency is involved, key in realized gain and realized loss account

Click Save & Close


Manage Invoice Options> Go to Task

Select Manage Invoice Options


For Business Unit select Select & Addfrom the list of values
Click Apply & Go to Task

Scroll Down
We will be taken to the below page
Key in all the details as required

Click Save & Go to Task drop down to Manage Payment Options


Manage Payment Options
Click Save & Close
Manage Payment Methods
Select Go to Task

Create a new payment method or a seeded method can be used by clicking + icon
Create your own payment method.
For the purpose of this doc we had created a method called WFCB Check
We can select this payment to be used for all the transactions or can specify them based on the
Business Unit, First Party Legal Entity
Save & Close

Manage payment Terms

Create new if required or we can use the seeded one

Now go on to create a Payment Process Profile


Payment Process Profile> Go to Task
Create a new Payment Process Profile.

Similar to payment method Payment process profile can be used for payment methods, Bank
Accounts, Business Units, Currencies

Click Save & Close


Manage Distribution Sets

Go to Task & Create a new distribution set

Click Save and Close

Roles are automatically generated for the Business Unit for each and every business function that
we had selected earlier, we have to assign those roles to the User.
Using Identity Manager we have to assign the roles.
We can identify from the below screen shot that the roles have been generated for the business unit

Select Add
Ensure that you add the following roles in addition to the roles related to Procurement and
Payables
* Supplier Administrator
* Supplier Manager
*Supplier Contract Manager
*Supplier Contract Administrator
*Supplier Qualification
Run the Program Retrieve Latest LDAP Changes

Logout and Login


Create a Procurement Agent (Must be created an employee only)

Go to Task
Click Create

Click Save and Close


Navigate to Identity Manager & Check whether the roles are assigned based on the Agent Access
allowed by us.

Log out & Log in as Russel.Crowe (our Procurement Agent)

Click Create
Supplier Number is automatically generated
Complete the Profile

After Completing Profile

Crete an address and key in the details

Create the address

Select Sites tab


Add your Procurement BU

Select the Sites purpose


Click Save

Now click Sites tab


Add your BU as client BU and select Bill to Ship to location
Also key in the liability distribution account and prepayment account

Now we had created a new supplier Steadysteam Corp


Now we are ready to go ahead and create Invoices

First step is to open Accounting Periods


Click Manage accounting periods

The application defaults as Payables


Click on the Ledger to Open Accounting Periods

Click Open Period

Click Done
Click Create Invoice

Select your Business Unit and Supplier

Create a standard invoice

Enter the line Amount


Give the Account Distribution Combination
Click Save & Close
Now click Manage Invoices
Query the invoice
Validate it by clicking on Actions

After Validation is completed


Click Pay in Full
Select the Bank Account we had created earlier
Also add the payment process profile we had created earlier

Click OK on confirmation
Click Create Accounting
Select the Ledger

Click OK
Check whether the Create Accounting Program was successful

Logout

Login as the user having roles related to General Ledger


In General Ledger, Search the accounting for the Period and by Source

Accounting is Created from Payables and is transferred to General Ledger.

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