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Oracle Payables Implementation Guide
Release 12.1
Part Number E12795-04
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Payments

Setting Up Your System for Bills Payable

When you use bills payable, you need to select some additional options in Oracle Payables.

The following table lists the steps required to set up Oracle Payables for bills payable:

Setup Steps for Bills Payable
Step Number Window Name Option or Field Name Description
Step 1 Oracle General Ledger (multiple windows) N/A In Oracle General Ledger, define one or more bills payable accounts.
Attention: If you will relieve liability for bills payable at payment issue, then define the bills payable accounts as asset accounts. If you will relieve liability at payment maturity, then define the accounts as liability accounts. This way the trial balance accurately reflects your liabilities.
Step 2 Financials Options, Accounting tab Future Dated Payment field This bills payable account value defaults to any new suppliers or bank accounts you enter.
Step 3 Payables Options, Accounting Option tab Future Dated Payment Account Source region, From Payment Document radio button or From Supplier Site radio button Set the following Oracle Payables option if you use accrual basis accounting. This option determines which bills payable account Oracle Payables uses to record the bills payable: Supplier Site or Payment Document. See: Payment Payables Options.
Step 4 Supplier Sites, Bills Payable subtab Bills Payable field (Optional) For each supplier that uses bills payable, change the bills payable account value for the supplier. This value defaults to all new supplier sites, but does not affect any existing supplier sites. See: Accounting Region of the Suppliers and Supplier Sites windows .
(Optional) In the Accounting region of the Supplier Sites window, you can change the account value for bill payable.
Step 5 Create Payment Method: General Use Payment Method to Issue Bills Payable check box.
Maturity Date Calculation field.
In Oracle Payments, define a payment method for bills payable as follows: Select the Use Payment Method to Issue Bills Payable check box to indicate that the payment method is to be used to issue bills payable. In the Maturity Date Calculation field, specify the number of days to add to the payment date to determine the maturity date. See: Step 7. Setting Up Funds Disbursemenet Payment Methods, Oracle Payments Implementation Guide.
Step 6 Create Payment Process Profile Bills Payable check box In Oracle Payments, select the Bills Payable check box in the Group Payments By region to ensure that a payment instruction contains only bills payable. See: Step 12. Setting Up Payment Process Profiles, Oracle Payments Implementation Guide.