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.

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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.