Invoice Creation and Payment Processing

An invoice is an important document used for maintaining the records of payments or transactions between a customer and a vendor. Invoices are useful in business analysis and provide legal protection against any kind of misconduct. For every invoice, there has to be a Purchase Order provided to the vendor.

In this blog we will create a non-PO based Invoice.

Pre-requisites:

1. Accounts Payable Manager Role in ERP cloud instance for Invoice Creation.

Solution: Solution is divided into two parts:

Part 1 – Invoice Creation

Part 2 – Payment Processing

Part 1 – Invoice Creation

Step 1: Log in to Oracle ERP cloud instance and navigate to Invoices work area via Payables tab.

Navigator -> Payables -> Invoices.

Step 2: Click on Tasks and then click on Create Invoice.

Tasks -> Create Invoice.

Step 3: Add required details and click on Save.

Invoice Header Details ->Add Line.

Line Details -> Click Save.

Step 4: Validate the Invoice by clicking on Invoice Actions tab.

Invoice Actions -> Validate.

Step 5: Account the Invoice by clicking on Invoice Actions tab.

Invoice Actions-> Post to Ledger.

Step 6: Click on View Accounting and review the accounting of the Invoice.

View Accounting-> View T-Accounts

Step 7: We can also view the accounting by navigating to Journals work area via General Accounting tab.

Navigator-> General Accounting -> Journals.

Step 8: Click on Tasks and then click on Manage Journals.

Tasks -> Manage Journals.

Step 9: Add Accounting Period and click on Search. To view the Journal details, we can click on the hyperlink below the headings Journal or Journal Batch.

Part 2: Payment Processing: Payment can be processed in three ways:

1. Pay in Full
2. Submit Payment Process Request
3. Create Payment

Here, in this blog we will process the Payment with 1^st method that is Pay in Full.

Step 1: Navigate to Invoices work area via Payables tab and from Tasks, go to Manage Invoices and Search by Invoice Number.

Navigator -> Payables -> Invoices -> Tasks -> Manage Invoices -> Invoice Number -> Search.

Step 2: Edit the Invoice and from Invoice Actions tab, click on Pay in Full. Add required details and click on Submit and then click on Save and Close.

Edit Icon -> Invoice Actions -> Pay in Full -> Payment Details -> Submit -> Save and Close.

Step 3: To view the Payment details, navigate to Payments work area via Payables tab and from Tasks, go to Manage Payments and Search by Payment Number.

Navigator-> Payables->Payments->Tasks->Manage Payments->Payment Number->Search.

Step 4: Click on the hyperlink below the heading Payment Number to view the Payment details.

Step 5: Account the Payment by clicking on Actions tab.

Actions-> Post to Ledger.

Step 6: Click on View Accounting and review the accounting of the Payment.

View Accounting->View T-Accounts

Step 7: We can also view the accounting by navigating to Journals work area via General Accounting tab.

Navigator-> General Accounting->Journals.

Step 8: Click on Tasks and then click on Manage Journals.

Tasks->Manage Journals.

Step 9: Add Accounting Period and click on Search. To view the Journal details, we can click on the hyperlink below the headings Journal or Journal Batch.

Nancy Bindal

Nancy Bindal has completed master’s in commerce (M.Com). She has a professional certification in Oracle Financials Business Process. She is working as an Oracle functional consultant at Conneqtion Group. Nancy has good knowledge in various areas of commerce and Oracle Fusion Finance.