Answer / tgs100

For AP, there are few standard steps.
1. Complete the invoice import process - Make sure that no records get struck in invoice interface table.
2. Run Invoice Validation with option as "All" and make sure that all the invoices are validated in the period in which closing is done.
3. All the invoices are approved (if applicable), accounted and transferred to GL.
4. All the payment batches (which belongs to the closing period) are in either confirmed status or in cancelled status.
5. Accounting is done for all payment batches and transferred to GL.
6. Optionally use sweep program to transfer documents to next period. (Better to get concurrence from finance before any sweep).
7. Run "AP Data Validation Report" (available in R12.2, check if it is available in earlier versions). This report can be used to check all the errors.
8. Run standard reconciliation reports like Posted invoice register, Posted Payment Register, Trial balance report.
Standard formula is Prev period closing balance in trial balance+invoice register total-payment register total = current period trial balance closing balance.
Compare the results with the account analysis report and GL trial balance reports.

Note: It is very easy to list down the above steps, but in reality, reconciliation is a very tedious process (atleast for few months), nothing tally in one go.

What is the difference between Oranisation ID and Org. ID. Is both are same?

3 Answers   Aurobindo,

---

Define suspense account in Oracle apps and why is it mandatory?

4 Answers   Oracle,

---

What is a Hold? Explain the types of Hold

7 Answers   HCL, IBM, TCS,

---

payment types and payment methods.

0 Answers  

---

can we stop the payment once the payment manager process has been run?

1 Answers  

---

I am currently working in reputed Org as a Oracle apps end user (AR). Learned R12 functional course, but no real time exp as in support or implementation project.Please guide. thank you.

0 Answers  

---

What is difference between consolidation and revaluation?

1 Answers   Deloitte,

---

Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. How can you perform these steps in AP?

7 Answers   ASD Lab, Shriram, Sierra Atlantica, TCS, Technosoft,

---

On what basis you will define accounting structure

3 Answers   Meru Cabs,

---

Explain Secondary Tracking Segments.

1 Answers  

---

what is the difference between bonus reserve and bonus expense

0 Answers   CSC, EE Limited,

---

Why system asks enter valid cost center while Creating internet Expenses but i entred my cost center system ask same question could u please give me answer

1 Answers  

---