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Oracle U.S. Federal Financials User Guide
Release 12.1
Part Number E13551-04
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Prompt Payment Report Procedures

Overview

The Prompt Payment reports provide information about invoices affected by prompt payment requirements. The reports include:

Requirements

Federal agencies are required to comply with the requirements of the Prompt Payment Act regarding payment of commercial obligations. Requirements include when and under what conditions payments must be made, taking of supplier discounts, and payment of interest penalties, when applicable.

Information regarding reporting requirements is available in the Office of Management and Budget (OMB) Final Rule 5 CFR 1315: Prompt Payment; formerly OMB Circular A-125.

Prerequisites

Related Topics

Prompt Payment Procedures

Prompt Payment Process

Payment Terms Types Setup,Oracle U.S. Federal Financials Implementation Guide.

Specify Profile Options,Oracle U.S. Federal Financials Implementation Guide

Prompt Payment Due Date Report

The Prompt Payment Due Date Report is printed automatically on completion of the Due Date Calculation process.

Related Topics

For information on running the Due Date Calculation process, see Prompt Payment Procedures.

Prompt Payment Due Date Report Description

The following table describe selected fields on the Prompt Payment Due Date Report window.

Prompt Payment Due Date Report Description
Column Description
Header Section Report date and ledger name
Invoice Number Invoice identifier
Vendor Name Vendor on invoice
Terms Date Invoice received date
Due Date Original due date
PPA Due Date New due date
Discount Date Original discount date
PPA Discount Date New discount date
Second Discount Date Second discount date
PPA Second Discount Date PPA second discount date
Third Discount Date Third discount date
PPA Third Discount PPA third discount

Generating the Prompt Payment Report

To print the Prompt Payment Report:

  1. Navigate to the Submit Request window.

  2. In the Name field, select Prompt Payment Reports.

  3. In the Operating Unit field, select an operating unit.

  4. In the Report From Date (DD-MON-YYYY) field, enter a starting date of payments to be reported.

  5. In the Report To Date (DD-MON-YYYY) field, enter an ending date of payments to be reported.

  6. In the Distribution Level One and optionally in the Two, Three, and Four fields, enter monetary amounts representing the ranges of interest amounts to be reported in the Interest Penalties Paid section of the report.

    For a description of these table lines, see the Prompt Payment Report Description table.

  7. In the Contact Agency's Name field, optionally enter the name of the person approving the report.

  8. In the Contact Agency's Position/Title field, optionally enter the position or title of the person approving the report.

Prompt Payment Report Description

Prompt Payment Report Description
Column Description
Header Section Operating Unit, Ledger name, currency, report date, and contact information
Invoices Subject to PPA and OMB A-125: Invoices affected by Prompt Pay requirements
Number Number of invoices
Amount Total monetary amount
Invoices Paid After Due Date: Invoices paid after stated due date
Number Number of invoices
Amount Total monetary amount
Interest Penalties Paid: Interest paid on late payments
<Breakpoint Ranges> Monetary ranges entered during report generation
Number Number of invoices
Amount Total monetary amount
Number % Percentage of invoices
Amount % Percentage of total monetary amount
Totals: Totals of columns for Number, Amount, Number %, Amount % in the Interest Penalties Paid region
Reasons why interest was incurred: Reasons for interest paid
Delay in Paying Office's Receipt of: Breakdown of invoices and reasons why interest incurred
Number Number of invoices where interest paid
Delay or error by Paying Office in: Breakdown of invoices and reasons why interest incurred
Number Number of invoices where interest paid
Invoice Payment Determination: Invoices paid before or after due date
Paid 1 to 15 Days After Due Date:Paid 8 Days or More Before Due Date (No Discount): Breakdown of late and early payments
Number Invoices paid at least 8 days before due date with no discount taken or invoices paid 1 to 15 days after due date
Amount Total monetary amount
Number % Percentage of invoices
Amount % Percentage of total monetary amount
Discount Taken: Vendor discounts available and taken
Discount Available:Discount Taken: Breakdown of discounts taken
Discount Not Taken Because: Breakdown of invoices and reasons why discounts were not taken
Number Number of invoices
Amount Total monetary amount
Interest Penalties Due But Not Paid: Invoices with interest due but not paid
Interest Less Than $1.00:Other Interest Not Paid: Breakdown of invoices with interest less than $1.00
Number Number of invoices
Amount Total monetary amount
Number % Percentage of invoices
Amount % Percentage of total monetary amount
Totals: Totals of columns for Number, Amount, Number %, Amount% in the Interest Penalties Due But Not Paid region

Prompt Payment Exception Report

No separate procedure is required to print the Prompt Payment Exception Report. The Prompt Payment Exception Report is printed automatically when the Prompt Payment Report is printed.

Prompt Payment Exception Report Description

Prompt Payment Exception Report Description
Column Description
Header Section Agency, currency, report date, and contact information
Vendor Name Vendor on exception invoice
Invoice Num Invoice identifier
Invoice Amount Dollar amount
Total Number of Records Total exception invoices
Total Invoice Amount Total dollar amount of exception invoices

Payments Without Reason Codes Report

The Payments Without Reason Codes report provides a list of interest and discount lost payments without reason codes.

To print the Payments Without Reason Codes Report:

  1. Navigate to the Submit Request window.

  2. In the Name field, select Payments Without Reason Codes Report.

  3. In the Operating Unit field, select an operating unit.

  4. In the From Date field, enter a starting date of payments to be reported.

  5. In the To Date field, enter a ending date of payments to be reported.

Note: For reconciliation purposes, the same From and To dates must be used for the Payments Without Reason Codes Report and the Prompt Payment Report.

Payments Without Reason Codes Report Description

Payments Without Reason Codes Report Description
Column Description
Header Section Agency, report date, from and to date, ledger name, operating unit, currency
Interest Payments without Reason Codes Interest payments without assigned reason codes
Payment Process Request Payment Process Request name
Invoice Number Invoice number
Invoice Date Invoice date
Invoice Amount Invoice amount
Due Date Assigned invoice due date
Payment Terms Payment terms
Payment Date Payment date
Total Interest: Total of interest payments without reason codes
Discounts Lost Payments without Reason Codes Discounts lost payments without assigned reason codes
Payment Process Request Payment process request name
Invoice Number Invoice number
Invoice Date Invoice date
Invoice Amount Invoice amount
Due Date Assigned invoice due date
Payment Terms Payment terms
Payment Date Payment date
Total Discounts: Total of discounts lost payments without reason codes