- 1099 form
- The forms the Internal Revenue Service supplies to record a particular category of payment or receipt.
- 1099 number
- The tax identification number for a supplier. According to IRS rules in the United States, lack of a valid tax identification number may result in tax withholding.
Payables stores the tax identification number for each supplier. Payables also enables you to enter a withholding status for each supplier.
- 1099 types
- A 1099 classification scheme used in the United States for types of payments. Each 1099 form has one or more payment types. A 1099 supplier may receive payments from more than one type. The 1099-MISC form has the following types: rents, royalties, prizes and awards, federal income tax withheld, fishing boat proceeds, medical and health care payments, non-employee compensation, and substitute payments in lieu of dividends or interest.
Payables records 1099 payments by type so that you can report them according to IRS requirements.
- 2-way matching The process of verifying that purchase order and invoice information matches within accepted tolerance levels. Payables uses the following criteria to verify two-way matching:
Invoice price <= Order price
Quantity billed <= Quantity ordered
See also matching.
- 3-way matching The process of verifying that purchase order, invoice, and receiving information matches within accepted tolerance levels. Payables uses the following criteria to verify three-way matching:
Invoice price <= Purchase Order price
Quantity billed <= Quantity ordered
Quantity billed <= Quantity received
See also matching.
- 4-way matching The process of verifying that purchase order, invoice, and receiving information matches within accepted tolerance levels. Payables uses the following criteria to verify four-way matching:
Invoice price <= Order price
Quantity billed <= Quantity ordered
Quantity billed <= Quantity received
Quantity billed <= Quantity accepted
See also matching.
- account hierarchy
- An Oracle Financials feature you use to perform summary level funds checking. An account hierarchy lets Purchasing and Payables quickly determine the summary accounts into which your detail accounts roll up.
- Account segment
- One of up to 30 different sections of your Accounting Flexfield, which together make up your general ledger account code. Each segment is separated from the other segments by a symbol you choose (such as -, /, or \). Each segment typically represents an element of your business structure, such as Company, Cost Center or Account.
- Account segment value
- A series of characters and a description that define a unique value for a particular value set.
- Accounting Flexfield
- The code you use to identify a general ledger account in an Oracle Financials application. Each Accounting Flexfield segment value corresponds to a summary or rollup account within your chart of accounts.
- Accounting Flexfield structure
- The account structure you define to fit the specific needs of your organization. You choose the number of segments, as well as the length, name, and order of each segment in your Accounting Flexfield structure.
- Accounting Flexfield value set
- A group of values and attributes of the values. For example, the value length and value type that you assign to your account segment to identify a particular element of your business, such as Company, Division, Region, or Product.
- accounting method
- The method you select for recording accounts payable transactions. You can choose between accrual basis, cash basis, or combined basis of accounting. With accrual basis accounting, Payables creates journal entries for invoices and payments. With cash basis accounting, Payables creates journal entries only after you make payments. With combined basis accounting, Payables creates journal entries for invoices and payments to post to your accrual set of books and creates journal entries for payments to post to your cash set of books.
- accrual basis accounting
- A method of accounting in which you recognize revenues in the accounting period in which you earn revenues and recognize expenses in the accounting period in which you incur the expense. Both revenues and expenses need to be measurable to be reportable.
- An amount of money prepaid in anticipation of receipt of goods, services, obligations or expenditures.
In Oracle Payables, an advance is a prepayment paid to an employee. You can apply an advance to an employee expense report during expense report entry, once you fully pay the advance.
- aging buckets Time periods you define to age your debit items. Aging buckets are used in the Aging reports to see both current and outstanding debit items. For example, you can define an aging bucket that includes all debit items that are 1 to 30 days past due.
- Payables uses the aging buckets you define for its Invoice Aging Report.
- An entity you define that checks your database for a specific condition and sends or prints messages based on the information found in your database.
- alert input
- A parameter that determines the exact definition of the alert condition. You can set the input to different values depending upon when and to whom you are sending the alert. For example, an alert testing for users to change their passwords uses the number of days between password changes as an input. Oracle Alert does not require inputs when you define an alert.
- alert output
- A value that changes based on the outcome at the time Oracle Alert checks the alert condition. Oracle Alert uses outputs in the message sent to the alert recipient, although you do not have to display all outputs in the alert message.
- Always Take Discount A Payables feature you use to always take a discount on a supplier's invoice if the payment terms for the invoice include a discount. You define Always Take Discount as a Payables option that Payables assigns to new suppliers you enter. When Always Take Discount is enabled for a supplier site, you take a discount on that supplier's invoice site regardless of when you pay the invoice. When Always Take Discount is disabled, you only take a discount if you pay the invoice on or before the discount date.
- See fixed asset.
- asset account
- A general ledger account to which you charge the cost of an asset when you purchase it. You must define an account as an asset account.
- Audit Set
- The group of forms that are available for auditing in your application.
- A feature that prevents you from paying an invoice when your supplier overcharges you or bills you for items you have not received, ordered or accepted. Approval also validates tax, period, currency, budgetary, and other information. If you use budgetary control and encumbrance accounting, Approval also creates encumbrances for unmatched invoices or for invoice variances.Approval prevents payment or posting of invoices that do not meet defined approval criteria by placing holds on the invoice. Approval also releases holds when you resolve invoice exceptions. You must submit Approval for each invoice to pay and post the invoice.
- Formerly an Oracle Payables feature, this was replaced by Oracle Cash Management features in Release 10SC.
- automatic payment
- A Payables process that automatically selects invoices based on your selection criteria, creates a payment (check or electronic funds transfer), and confirms the status of each payment.
- automatic payment processing
- A Payables process that produces payments for groups of invoices. The complete process includes: invoice selection (payment batch), payment building, manual modification/addition to invoice payments in the payment batch, payment formatting, and confirmation of results. You can modify a payment batch up until the time you format payments for the payment batch. You can cancel a payment batch up until the time you confirm the payment batch.
- An Oracle Applications feature in the list window that allows you to shorten a list so that you must scan only a subset of values before choosing a final value. Just as AutoReduction incrementally reduces a list of values as you enter additional character(s), pressing [Backspace] incrementally expands a list.
- A feature in the list window that allows you to choose a valid value from the list with a single keystroke. When you display the list window, you can type the first character of the choice you want in the window. If only one choice begins with the character you enter, AutoSelection selects the choice, closes the list window, and enters the value in the appropriate field.
- A summary record of all 1099 payments made to a supplier for one tax region.
- See Bankers Automated Clearing System.
- balancing segment
- An Accounting Flexfield segment that you define so that General Ledger automatically balances all journal entries for each value of this segment. For example, if your company segment is a balancing segment, General Ledger ensures that, within every journal entry, the total debits to company 01 equal the total credits to company 01.
- bank file
- The data file you receive from the bank that contains all of the payment information that the bank has deposited in your bank account.
- Bankers Automated Clearing System (BACS)
- The standard format of electronic funds transfer used in the United Kingdom. You can refer to the BACS User Manual, Part III: Input Media Specifications, published by the Bankers Automated Clearing System, for the exact specifications for BACS electronic payments.
- Bill of Exchange
- A method of payment. Also known as a future dated payment in some countries, including France. See also Future Date Payment.
- budget organization
- An entity (department, cost center, division or other group) responsible for entering and maintaining budget data. You define budget organizations for your company, then assign the appropriate accounts to each budget organization.
- budgetary account
- An account segment value (such as 6110) that is assigned one of the two budgetary account types. You use budgetary accounts to record the movement of funds through the budget process from appropriation to expended appropriation.
- Budgetary Account
- An account that contains a budgetary account.
- budgetary account type
- Either of the two account types Budgetary DR and Budgetary CR.
- budgetary control
- An Oracle Financials feature you use to control actual and anticipated expenditures against a budget. When budgetary control is enabled, you can check funds online for transactions, and you can reserve funds for transactions by creating encumbrances. Oracle Financials automatically calculates funds available (budget less encumbrances less actual expenditures) when you attempt to reserve funds for a transaction. Oracle Financials notifies you online if funds available are insufficient for your transaction.
- business group
- The highest level of organization and the largest grouping of employees across which a company can report. A business group can correspond to an entire company, or to a specific division within the company.
- A record that Payables selects to purge based on the last activity date you specify. Payables only selects records that you have not updated since the last activity date you specify. Payables does not purge a candidate until you confirm a purge.
- cash basis of accounting
- An accounting method in which you only recognize an expense when you incur the expense. With the Cash Basis of Accounting, Payables only creates journal entries for invoice payments.
- Cash Clearing Account
- The cash clearing account you associate with a payment document. You use this account if you integrate Oracle Payables with Oracle Cash Management, or if you generate future dated payment documents. Oracle Payables credits this account instead of your Asset (Cash) account and debits your Liability account when you post uncleared payments. Oracle Payables debits this account and credits your Asset (Cash) account once you clear your payments in Oracle Cash Management. You must enable the Allow Reconciliation Accounting Payables option to be able to enter a cash clearing account for a bank account and payment document.
- A feature you use to purge a particular group of records from the database.
- Payables lets you choose from 5 separate categories:
Simple Requisitions (only if you installed Purchasing)
Simple Purchase Orders (only if you installed Purchasing)
Matched Invoices and POs (only if you installed Purchasing)
- chart of accounts structure
- A classification of account segment values that assigns a particular range of values a common characteristic. For example, 1000 to 1999 might be the range of segment values for assets in the account segment of your accounting flexfield.
- A bill of exchange drawn on a bank and payable on demand. Or, a written order on a bank to pay on demand a specified sum of money to a named person, to his or her order, or to the bearer out of money on deposit to the credit of the maker.
A check differs from a warrant in that a warrant is not necessarily payable on demand and may not be negotiable. It differs from a voucher in that a voucher is not an order to pay.
- check overflow A check printing situation where there are more invoices paid by a check than can fit on the remittance advice of the check.
- A payment status when the bank has disbursed funds for the payment, and the payment has been cleared but not matched to a bank statement within Oracle Cash Management.
- clearing account An account used to ensure that both sides of an accounting transaction are recorded. For example, when you purchase an asset, your payables group creates a journal entry to the asset clearing account. When your fixed assets group records the asset, they create another journal entry to the asset clearing account to balance the entry from the payables group.
- combined basis accounting
- A method of accounting that combines both Accrual Basis Accounting and Cash Basis Accounting. With Combined Basis of Accounting, you use two separate sets of books, one for the accrual basis accounting method and the other for the cash basis accounting method. Payables creates journal entries for invoices and payments to post to your accrual set of books and creates journal entries for payments to post to your cash set of books.
- A contractual guarantee with a customer for future purchases, usually involving deposits or prepayments. You can create invoices against the commitment to absorb the deposit or prepayment. Receivables automatically records all necessary accounting entries for your commitments. Oracle Order Entry allows you to enter order lines against commitments.
- complete matching
- A condition where the invoice quantity matches the quantity originally ordered, and you approve the entire quantity. See also matching, partial matching.
- concurrent manager
- A unique facility that manages many time-consuming, non-interactive tasks within Oracle Applications for you, so you do not have to wait for their completion. When you submit a request in Oracle Applications that does not require your interaction, such as releasing shipments or running a report, the Concurrent Manager does the work for you, enabling you to complete multiple tasks simultaneously.
- concurrent process
- A non-interactive task that you request Oracle Applications to complete. Each time you submit a non-interactive task, you create a new concurrent process. A concurrent process runs simultaneously with other concurrent processes (and other interactive activities on your computer) to help you complete multiple tasks at once.
- concurrent queue
- A list of concurrent requests awaiting completion by a concurrent manager. Each concurrent manager has a queue of requests waiting to be run. If your system administrator sets up your Oracle Application to have simultaneous queuing, your request can wait to run in more than one queue.
- concurrent request
- A request to Oracle Applications to complete a non-interactive task for you. You issue a request whenever you submit a non-interactive task, such as releasing a shipment, posting a journal entry, or running a report. Once you submit a request, Oracle Applications automatically takes over for you, completing your request without further involvement from you or interruption of your work.
- control amount
- A feature you use to specify the total amount available for payment of a recurring payment. When you generate invoices for a recurring payment, Oracle Payables uses the control amount and the total number of payments to determine the invoice amount.
- control book
- A tax book, used for mass depreciation adjustments, that holds the minimum accumulated depreciation for each asset.
- control file
- A file used by SQL*Loader to map the data in your bank file to tables and columns in the Oracle database. You must create one control file for each different bank file you receive, unless some or all of your banks use the exact same format.
- A process that converts foreign currency transactions to your functional currency.
- corporate exchange rate
- An exchange rate you can optionally use to perform foreign currency conversion. The corporate exchange rate is usually a standard market rate determined by senior financial management for use throughout the organization. You define this rate in Oracle General Ledger.
- credit invoice
- An invoice you receive from a supplier representing a credit amount that the supplier owes to you. A credit invoice can represent a quantity credit or a price reduction.
- credit memo
- A document that partially or fully reverses an original invoice.
- cross rate
- An exchange rate you use to convert one foreign currency amount to another foreign currency amount. In Payables, you use a cross rate to convert your invoice currency to your payment currency.
- customer number
- The number a supplier assigns to your organization.
- cutoff day
- The day of the month that determines when an invoice with proxima payment terms is due. For example, if it is January and the cutoff day is the 10th, invoices dated before or on January 10 are due in the next billing period; invoices dated after the 10th are due in the following period.
- database table
- A basic data storage structure in a relational database management system. A table consists of one or more units of information (rows), each of which contains the same kind of values (columns). Your application's programs and windows access the information in the tables for you.
- debit invoice
- An invoice you generate to send to a supplier representing a credit amount that the supplier owes to you. A debit invoice can represent a quantity credit or a price reduction.
- dependent segment
- An account segment in which the available values depend on values entered in a previous segment, called the independent segment. For example, the dependent segment Sub-Account 0001 might mean Bank of Alaska when combined with the independent segment Account 1100, Cash, but the same Sub-Account 0001 might mean Building #3 when combined with Account 1700, Fixed Assets.
- Descriptive Flexfield
- A field that your organization can extend to capture extra information that is otherwise not tracked by Oracle Applications. A Descriptive Flexfield appears on your window as a single character, unnamed field. Your organization can customize this field to capture additional information that is necessary and unique to your business.
- disbursement type
- A feature you use to determine the type of payment for which a payment document is used. For example, computer-generated payments and recorded checks or wire transfers.
- The amount or percentage that you allow a customer to decrease the balance due for a debit item. In Receivables, you use Payment Terms to define customer discounts and can choose whether to allow earned and unearned discounts.
- distribution line
- A line corresponding to an accounting transaction for an expenditure item on an invoice, or a liability on a payment.
- distribution list
- A distribution list is a set of mail names to whom Oracle Alert sends a message when it finds an exception condition. An alert can have many distribution lists and each distribution list can have its own set of input variables to increase your control over who gets messages about what. For example, to send a message about furniture to Joe Smith and about telecommunications equipment to Sally Jones, you can define two distribution lists and enter the appropriate item class as an input variable to each list.
- distribution set
- A Payables feature you use to assign a name to a predefined expense distribution or combination of distributions (by percentage). Payables displays on a list of values the list of Distributions Sets you define. With Distribution Sets, you can enter routine invoices into Payables without having to enter accounting information.
- distribution total
- The total amount of the distribution lines of an invoice. The distribution total must equal the invoice amount before you can pay or post an invoice.
- document sequence number
- A number that is manually or automatically assigned to your documents to provide an audit trail. For example, you can choose to sequentially number invoices in Receivables or journal entries in General Ledger. See also voucher number.
- An exception that Oracle Alert has previously sent to the same distribution list. You can choose to suppress duplicates completely for detail messages, or to identify them with asterisks (*) in summary messages. For example, if on Monday Oracle Alert notifies a purchasing agent that a supplier shipment is overdue, then on Tuesday Oracle Alert finds that the shipment is still overdue, you can choose whether Oracle Alert should renotify the purchasing agent or suppress the message.
- dynamic distribution
- A distribution that includes at least one recipient whose electronic mail ID is represented by an alert output. Oracle Alert locates the actual electronic mail ID in one of the application tables, and substitutes it into the distribution before sending the alert message.
- dynamic insertion
- An Accounting Flexfields feature that allows you to enter and define new combinations of segment values directly in a flexfield pop-up window. The new combination must satisfy any cross-validation rules before it is accepted. Your organization can decide if an Accounting Flexfield supports dynamic insertion. If an account does not support dynamic insertion, you can only enter new combinations of segment values using the Define Accounts window
- See Electronic Funds Transfer (EFT).
- Electronic Funds Transfer (EFT)
- A method of payment in which your bank transfers funds electronically from your bank account into another bank account. In Payables, your bank transfers funds from your bank account into the bank account of a supplier you pay with the Electronic payment method.
- See encumbrance journal entry.
- encumbrance accounting
- An Oracle Financials feature you use to create encumbrances automatically for requisitions, purchase orders, and invoices. The budgetary control feature uses encumbrance accounting to reserve funds for budgets. If you enable encumbrance accounting only, you can create encumbrances automatically or manually; however, you cannot check funds online and Oracle Financials does not verify available funds for your transaction. See also budgetary control.
- encumbrance journal entry
- A journal entry that increases or relieves encumbrances. Encumbrance entries can include encumbrances of any type.
If you have enabled encumbrance accounting, when you successfully approve an invoice matched to an encumbered purchase order, Payables automatically creates encumbrance journal entries that relieve the original encumbrance journal entries. Payables also creates new encumbrance journal entries for any quantity or price variance between an invoice and the matched purchase order.
Payables automatically creates encumbrance journal entries for an unmatched invoice when you approve the invoice.
- encumbrance type
An encumbrance category that allows you to track your anticipated expenditures according to your purchase approval process and better control your planned expenditures. You can also attach an encumbrance type to your invoices for reporting purposes. Examples of encumbrance types are commitments (requisition encumbrances) and obligations (purchase order encumbrances)
- event alert
- An alert that runs when a specific event occurs that you define. For example, you can define an event alert to send a message to the Accounts Payable Supervisor when an Accounts Payable Clerk enters an invoice that exceeds your maximum invoice amount for that supplier.
- A single occurrence of an event returned by an alert check. For example, if an alert checking for invoices that Approval places on funds hold finds five such invoices, each invoice is an exception.
- exception reporting
- Exception reporting is an integrated system of alerts, messages and distribution lists to focus attention on time-sensitive or critical information, streamline your communication channels, shorten your reaction time, and eliminate your information clutter. Exception reporting communicates information by either electronic mail or paper reports.
- exchange rate
- A rate that represents the amount in one currency that you can exchange for another at a particular point in time. You can enter and maintain daily exchange rates for Payables to use to perform foreign currency conversion. Payables multiplies the exchange rate by the foreign currency to calculate the functional currency.
- exchange rate type
- A specification of the source of an exchange rate. For example, a user exchange rate or a corporate exchange rate. See also corporate exchange rate, spot exchange rate.
- exchange rate variance The difference between the exchange rate for a foreign-currency invoice and its matched purchase order. Payables tracks any exchange rate variances for your foreign-currency invoices.
- expense report
- A document that details expenses incurred by an employee for the purpose of reimbursement.
- You can enter expense reports online in Payables or Web Employees, or you can import them from Projects.
- The payee of an invoice when the payee differs from the supplier on the invoice. For example, a supplier may have sold their receivables to a factor.
- Federal Identification Number
- See Tax Identification Number.
- fiscal year
- Any yearly accounting period without regard to its relationship to a calendar year.
- fixed asset
- An item owned by your business and used for operations. Fixed assets generally have a life of more than one year, are acquired for use in the operation of the business, and are not intended for resale to customers. Assets differ from inventory items since you use them rather than sell them.
- fixed rate currencies
- Currencies with fixed exchange rates. For example, the Euro and currencies of countries in the European Monetary Union (EMU).
- flexfield segment
- One of the sections of your key flexfield, separated from the other sections by a symbol that you define (such as -,/, or \). Each segment typically represents an element of your business, such as cost center, product, or account.
- (Free On Board) The point or location where the ownership title of goods is transferred from the seller to the buyer. This indicates that delivery of a shipment will be made on board or into a carrier by the shipper without charge, and is usually followed by a shipping point or destination (e.g. 'FOB Our warehouse in New York'). (Receivables QuickCode)
- A flexible entry and display window in which you can choose the fields you want to see and where each appears in the window. See: Customizing the Presentation of Data.
- foreign currency
- A currency that you define for your set of books for recording and conducting accounting transactions in a currency other than your functional currency. When you enter and pay an invoice in a foreign currency, Payables automatically converts the foreign currency into your functional currency based on the exchange rate you define. See also exchange rate, functional currency.
- foreign currency conversion
See also foreign exchange gain or loss.
- The conversion of a foreign currency transaction, such as an invoice or a payment, into your functional currency. Payables automatically performs this conversion whenever you enter an invoice or make a payment in a currency other than your functional currency.
- foreign currency exchange gain or loss
- The difference in your functional currency between the invoiced amount and the payment amount when applying a receipt to an invoice. A realized gain exists if the receipt amount in your functional currency exceeds the invoice amount; a loss exists if the invoice amount in your functional currency exceeds the amount of the payment. Such gains and losses arise from fluctuations in exchange rates of the receipt currency between the invoice date and the payment date. See also realized gain or loss, unrealized gain or loss.
- Free On Board (FOB) See FOB.
- function security
- An Oracle Applications feature that lets you control user access to certain functions and windows. By default, access to functionality is not restricted; your system administrator customizes each responsibility at your site by including or excluding functions and menus in the Responsibilities window.
- functional currency
- The principal currency you use to record transactions and maintain your accounting data for your set of books. You define the functional currency for each set of books within your organization. When you enter and pay an invoice in a foreign currency, Payables automatically converts the foreign currency into your functional currency based on the exchange rate you define. Payables creates journal entries for your multiple currency invoices and payments in both your foreign and functional currencies.
- funds available
- The difference between the amount you are authorized to spend and all actual and anticipated expenditures. In other words, funds available is the amount budgeted less actual expenses and encumbrances of all types. Oracle Financials lets you check funds available online for requisitions, purchase orders, and invoices.
Funds Available = Budget - (Actual Expenses + Encumbrances)
- funds checking
- The process of certifying funds available.
When you check funds, Oracle Financials compares the amount of your transaction against your funds available and notifies you online whether funds are available for your transaction. Oracle Financials does not reserve funds for your transaction when you check funds.
- You can check funds when you enter a requisition, purchase order, or invoice.
- funds reservation
- The creation of requisition, purchase order, or invoice encumbrance journal entries. Payables reserves funds for your invoice when you approve the invoice. Approval creates encumbrance journal entries for an unmatched invoice or for price and quantity variances between an invoice and the purchase order to which you match the invoice. Payables immediately updates your funds available balances and creates an encumbrance journal entry that you can post in your general ledger.
- future date
- A date you use to record the payment date of a future dated payment document. You only use future dates on payment documents with a future payment method.
Payables displays the future date on the future dated payment document to inform your supplier and bank when the bank should transfer funds to the supplier's bank. In Payables the future date of a future dated payment is the same as the scheduled payment due date of the invoices being paid. Payables also refers to the future date as the Payment Due Date.
- See realized gain or loss, unrealized gain or loss.
- GL Date
- The date used to determine the correct accounting period for your invoice and payment transactions. You assign a GL Date to your invoices during invoice entry and your payments during payment creation.
- grace period
- See Receipt Acceptance Period.
- An Oracle Applications feature that prevents a transaction from occurring or completing until the hold has been released. You can place a hold on an invoice or an invoice schedule line in Payables. All holds in Payables prevent payment; some holds also prevent posting to your general ledger.
- imported invoice
- An invoice that is imported into Payables using the Invoice Import program.
- income tax region
- The region or state you assign to paid invoice distribution lines for a 1099 supplier. If you participate in the Combined Filing Program, Payables produces K records for all income tax regions participating in the Combined Filing Program that have qualifying payments.
- income tax type
- A type of payment you make to 1099 suppliers. With Payables you can assign an income tax type to each paid invoice distribution line for a supplier. The Internal Revenue Service (IRS) requires that you report, by income tax type, payments made to 1099 suppliers
- intercompany account
- A general ledger account that you define in an Accounting Flexfield to balance intercompany transactions. You can define multiple intercompany accounts for use with different types of accounts payable journal entries.
- intercompany journal entry
- A journal entry that records transactions between affiliates. General Ledger keeps your accounting records in balance for each company by automatically creating offsetting entries to an intercompany account you define.
- interest invoice
- An invoice that Payables creates to pay interest on a past-due invoice. Payables automatically creates an expense distribution line for an interest invoice using an Accounting Flexfield you specify. You cannot modify an interest invoice.
- interface table
- A temporary database table used for transferring data between applications or from an external application. See also database table.
- A document you receive from a supplier that lists amounts owed to the supplier for purchased goods or services. In Payables, you create an invoice online using the information your supplier provides on the document. Payments, inquiries, adjustments and any other transactions relating to a supplier's invoice are based upon the invoice information you enter.
- invoice batch
- A Payables feature that allows you to enter multiple invoices together in a group. You enter the batch count, or number of invoices in the batch, and the total batch amount, which is the sum of the invoice amounts in the batch, for each batch of invoices you create. You can also optionally enter batch defaults for each invoice in a batch.When you enable your batch control system option, Payables automatically creates invoice batches for Payables expense reports, prepayments, and recurring invoices, as well as all standard invoices.
- invoice date
- The date you assign to an invoice you enter in Payables. Payables uses this date to calculate the invoice due date, according to the payment terms for the invoice. The invoice date can be the date the invoice was entered or it can be a different date you specify.
- invoice distribution line
- A line representing an expenditure item on an invoice. A single expenditure item may have multiple distribution lines for cost and revenue. An invoice distribution line holds an amount, account code, and accounting date.
- invoice distribution line types
- A feature that classifies every invoice distribution line as an item, tax, freight, or miscellaneous distribution.
- Invoice Import
- An Oracle Payables process you use to import invoices from non-Oracle payables systems and to create invoices from Payables expense reports. You can also use Invoice Import to create invoices from expense reports in Oracle Projects.
When you initiate Invoice Import, Payables imports the required invoice or expense report information and automatically creates invoices with invoice distribution lines from the information. Payables also produces a report for all invoices or expense reports it could not import.
- invoice number A number or combination of numbers and characters that uniquely identifies an invoice within your system. Usually generated automatically by your receivables system to avoid assigning duplicate numbers.
- invoice price variance The difference between the item price for an invoice and its matched purchase order. For your inventory items, Payables tracks any invoice price variances.
- invoice quantity variance The difference between the quantity-billed for an invoice and the quantity-ordered (or received/accepted, depending on the level of matching you use) for its matched purchase order. Payables distributes invoice quantity variances to the Accounting Flexfield for your invoice distribution lines.
- Item Validation Organization
- The organization that contains your master list of items. You define this organization by setting the OE: Item Validation Organization profile option. See also organization.
- journal entry batch
- A method used to group journal entries according to your set of books and accounting period. When you initiate the transfer of invoice or payment information to your general ledger for posting, Payables transfers the necessary information to create journal entry batches for the information you transfer. Journal Import in General Ledger uses the information to create a journal entry batch for each set of books and accounting period.
You can name your journal entry batches the way you want for easy identification in your general ledger. Payables attaches the journal entry category, date, and time of transfer to your batch name so that each name is unique. If you choose not to enter your own batch name when you transfer posting information, Payables uses the journal entry category, date, and time of transfer.
- journal entry category
- A category used to indicate the purpose or nature of your journal entry. General Ledger associates each of your journal entry headers with a journal entry category. There are three journal entry categories in Payables if you use the accrual basis accounting method: Invoices, Payments, and All (both Invoices and Payments). If you use the cash basis accounting method, Payables only assigns the Payment journal entry category to your journal entries.
- journal entry header
- A method used to group journal entries by currency and journal entry category within a journal entry batch. When you initiate the transfer of invoices or payments to your general ledger for posting, Payables transfers the necessary information to create journal entry headers for the information you transfer. Journal Import in General Ledger uses the information to create a journal entry header for each currency and journal entry category in a journal entry batch. A journal entry batch can have multiple journal entry headers.
- journal entry lines
- Each journal entry header contains one or more journal entry lines. The lines are the actual journal entries that your general ledger posts to update account balances. The number and type of lines in a journal entry header depend on the volume of transactions, frequency of transfer from Payables, and your method of summarizing journal entries from Payables.
- journal entry source
- An indicator of which feeder system your journal entries come from, such as Payables. General Ledger associates each of your journal entries with one journal entry source. This allows you to group related journal entry transactions for reporting and analysis in your general ledger.
- Journal Import
- A General Ledger program that creates journal entries from transaction data stored in the General Ledger GL_INTERFACE table. Journal entries are created and stored in GL_JE_BATCHES, GL_JE_HEADERS, and GL_JE_LINES.
- jurisdiction code
- An abbreviated address that is specific to a Tax Supplier and more accurate than a simple five digit zip code.
- A summary record of all 1099 payments made to suppliers for a single tax region that participates in the Combined Filing Program.
- key flexfield
- An Oracle Applications feature you use to build custom fields used for entering and displaying information relating to your business. Payables uses the following key flexfields:
System Items Flexfield
- key indicators
- Also an Oracle Applications feature you can use to gather and retain information about your productivity, such as the number of invoices paid. You define key indicator periods and Payables provides a report that shows productivity indicators for your current and prior period activity.
- A one-word message that Oracle Applications displays in the message line of any window to notify you that a particular feature is available for a particular field.
- See commitment, obligation.
- See realized gain or loss, unrealized gain or loss.
- Mass Additions
- Invoice distribution lines that you transfer to Oracle Assets for creating assets. Payables only creates mass additions for invoice distribution lines that are marked for asset tracking. Invoice distribution lines distributed to Asset Accounting Flexfields are automatically marked for asset tracking.
Oracle Assets does not convert the mass additions to assets until you complete all of the required information about the asset and post it in Oracle Assets.
- The process of comparing purchase order, invoice, and receiving information to verify that ordering, billing, and receiving information is consistent within accepted tolerance levels. Payables uses matching to control payments to suppliers. You can use the matching feature in Payables if you have Purchasing or another purchasing system. Payables supports two-, three-, and four-way matching.
- matching tolerances
- The acceptable degrees of variance you define for matched invoices and purchase orders. Payables measures variance between quantities and item prices for invoices and purchase orders. You can define tolerances for order quantities, including Maximum Quantity Ordered and Maximum Quantity Received. You can also define tolerances for price variances, including exchange rate amounts, shipment amounts, and total amounts. If any of the variances between a matched invoice and purchase order exceed the tolerances you specify, Approval places the invoice on hold.
- The text or data that Oracle Alert sends when it finds an exception while running an alert.
- message distribution
- See distribution list. A line at the bottom of the toolbar that displays helpful hints, warning messages, and basic data entry errors.
- message line
- A line on the bottom of a window that displays helpful hints or warning messages when you encounter an error.
- minimum interest amount
- The amount below which Payables does not pay interest on an overdue invoice. Payables automatically compares the interest amount it calculates on past due invoices with the minimum interest amount you have defined, and does not create an interest invoice unless the amount of interest exceeds the minimum interest amount.
- See multiple organizations
- multiple organizations
- The ability to define multiple organizations and the relationships among them within a single installation of Oracle Applications. These organizations can be sets of books, business groups, legal entities, operating units, or inventory organizations.
- multiple payment formats
- You can choose from several payment methods to pay your supplier invoices. Within each payment method you can define as many payment formats as you want. A payment format determines your payment creation and remittance advice programs.
- Multiple Reporting Currencies
- An Oracle General Ledger feature that allows you to report in your functional currency and in one or more foreign currencies.
- non-posting hold
- A hold that prevents you from paying your invoice, but allows posting. All holds prevent payment but you can decide if you want to allow or disallow posting for each hold you define.
- An encumbrance you record when you turn a requisition into a purchase order.
- A business unit such as a company, division, or department. Organization can refer to a complete company, or to divisions within a company. Typically, you define an organization or a similar term as part of your account when you implement Oracle Financials. See also business group.
- parameter (report)
- See report parameter.
- partial matching
- A condition where the invoice quantity is less than the quantity originally ordered, in which case you are matching only part of a purchase order shipment line. See also matching, complete matching.
- Pay Date Basis
- A feature you assign to suppliers to determine when AutoSelect selects invoices for payment in a payment batch. Pay Date Basis (Due or Discount) defaults from the system level when you enter a new supplier, but you can override it. When Pay Date Basis is Due for a supplier site, Payables selects that supplier's sites invoices for payment only when the invoice due date falls on or before the Pay-Through-Date for the payment batch. If Pay Date Basis is Discount, Payables selects the supplier's sites invoices for payment if the discount date or due date is before the pay-through-date.
- Pay Group
- A feature you use to select invoices for payment in a payment batch. You can define a PayGroup and assign it to one or more suppliers. You can override the supplier's PayGroup on individual invoices. For example, you can create an Employee PayGroup to pay your employee expenses separately from other invoices.
- pay on receipt
- A Financials feature that allows you to automatically create supplier invoices in Payables based on receipts and purchase orders you enter in Purchasing.
- Pay Only When Due
- A feature you use to determine whether to pay invoices in a payment batch during the discount period. If you Pay Only When Due (Yes), Payables only selects invoices for which payment is due; it postpones payment of invoices still in the discount period until another payment batch, or until they are due. If you do not Pay Only When Due (No), Payables also selects those invoices in the discount period for which the pay date basis is Discount.
- pay site
- A supplier site that is able to receive payments.
A supplier must have at least one supplier site defined as a pay site before Payables allows payments to be issued to that supplier. You cannot enter an invoice for a supplier site that is not defined as a pay site. See also purchasing site, RFQ Only Site.
- A feature you use during automatic payment processing. You define a payment cycle (the number of days between regular payment batches), and Payables calculates the Pay-Through-Date by adding the number of days in the payment cycle to the payment date. Payables selects an invoice for payment if either the due date or discount date is before the Pay-Through-Date.
- See Pay Group.
- A document that includes the amount disbursed to any supplier/pay site combination as the result of a payment batch. A payment can pay one or more invoices.
- payment batch
- A group of invoices selected for automatic payment processing. Payables creates a payment batch when you initiate AutoSelect. Payables selects invoices, according to criteria you specify, and produces payments for the invoices in the payment batch. Payables uses the payment method and format you specify for the bank account you choose for a payment batch to build and format payments for the invoices in the batch.
See also Automatic Payment Processing.
- payment date
- The date on which the status of an invoice is updated to 'Paid.' Payables uses the payment date as the GL Date for each payment.
- payment distribution line
- A line representing the liability transaction on a payment. Each payment has at least one liability distribution line, but may have additional lines to record discounts taken and realized gains and losses (foreign currency payments only).
- payment document
- A medium you use to instruct your bank to disburse funds from your bank account to the bank account or site location of a supplier. With Payables you can make payments using several types of payment documents. You can send your supplier a check that you manually create or computer-generate. You can instruct your bank to wire funds to the bank account of a supplier. You can create a tape or diskette for an electronic funds transfer. For each payment document, you can generate a separate remittance advice. Payables updates your invoice scheduled payment the same way regardless of which payment document you use to pay an invoice. Payables also allows you to instruct your bank to pay in a currency different from your functional currency, if you enable the multiple currency system option and define a multi-currency payment format.
- payment format
- A definition that determines your payment creation and remittance advice programs for a given payment document. When you define a payment format, you do so for a particular payment method.
- payment method
- A feature that allows you to make invoice payments using a variety of methods. You can disburse funds using checks, electronic funds transfers, and wire transfers. Payables updates your payment schedules the same way regardless of which payment method you use. You can assign a payment method to suppliers, supplier sites, invoice payment schedule lines, and payment formats. You can then assign one or more payment formats to a bank account. You can have multiple payment formats for each payment method.
- payment priority
- A value, ranging from 1 (high) to 99 (low), assigned to an invoice that determines how Payables selects invoices for payment in a payment batch.
You can assign default payment priorities to suppliers, supplier sites, and invoice scheduled payments in Payables.
- payment program
- A program you use to build and format your payment. Payables provides several payment programs. You can define as many additional programs as you need. Payables recognizes three payment program types: Build, Format, and Remittance Advice.
- payment terms
- The due date and discount date for payment of a transaction. For example, the payment term '2% 10, Net 30' lets a customer take a two percent discount if payment is received within 10 days; after 10 days, the entire balance is due within 30 days of the invoice date with no applicable discount. See also discount, scheduled payment.
- periodic alert
- An alert that periodically checks for the occurrence of your alert condition, according to a schedule you define. For example, you can define a periodic alert to send a message to the Accounts Payable Supervisor once a week to report on the number of held invoices.
- periodic key indicator alert
- A message Oracle Alert sends after scanning your database to notify you of current productivity levels. The number of invoices you have entered during a period is an example of a periodic key indicator alert.
- periodic troubleshooting alert
- A message Oracle Alert sends after scanning your database to notify you of discrepancies from goals or standards you have set. Invoices on hold is an example of a periodic troubleshooting alert.
- planned purchase order
- A type of purchase order you issue before you order delivery of goods and services for specific dates and locations. You usually enter a planned purchase order to specify items you want to order and when you want the items delivered. You later enter a shipment release against the planned purchase order to order the items.
- Positive Pay Program
- Third party or custom software that formats the output file of the Payables Positive Pay Report into the format required by your bank, and transmits it electronically to your bank. This prevents check fraud by informing the bank which checks are negotiable or non-negotiable and for what amount.
- The process of updating account balances in your general ledger from journal entries. Payables uses the term posting to describe the process of transferring posting information to your general ledger. When you initiate posting in Payables, Payables transfers your invoice and payment transactions and sets the status of the payments and invoices to posted. You must use your general ledger to create journal entries and post the journal entries to update your account balances. See also Journal Import.
- posting hold
- A hold that prevents you from posting an invoice. You also cannot pay an invoice that has a posting hold, because all holds prevent payment.
- A payment you make to a supplier in anticipation of his provision of goods or services. A prepayment may also be an advance you pay to an employee for anticipated expenses.
In Payables, a prepayment is a type of invoice that you can apply to an outstanding invoice or employee expense report to reduce the amount of the invoice or expense report. You must approve the prepayment and fully pay the prepayment before you can apply the prepayment.
- price correction
- An invoice you receive from a supplier that is an adjustment to the unit price of an invoice you previously matched to a purchase order shipment. You can match the price correction to specific purchase order distribution lines or you can have Payables prorate the price correction across all previously matched purchase order distributions. If you receive a price correction that represents a price reduction, you enter the price correction as a Credit invoice. If you receive a price correction that represents a price increase, you enter the price correction as a Standard invoice.
- primary accounting method
- The accounting method you choose for your primary set of books. You can choose either the cash or accrual method. You must choose a primary accounting method before you can choose a secondary accounting method and before you submit journal entries for posting to the general ledger.
- primary set of books
- The set of books you use to manage your business. You can choose accrual or cash basis as the accounting method for your primary set of books.
- A unit of work that can be broken down into one or more tasks. A project is the unit of work for which you specify revenue and billing methods, invoice formats, a managing organization and project manager, and bill rate schedules. You can charge costs to a project, and you can generate and maintain revenue, invoice, unbilled receivable, and unearned revenue information for a project.
- proprietary account
- An account segment value (such as 3500) assigned one of the five proprietary account types. The five types include Asset, Liability, Owner's Equity, Revenue, and Expense.
- Proprietary account
- An account that contains a proprietary account.
- proprietary account type
- Any of the five account types: Asset, Liability, Owner's Equity, Revenue, and Expense.
- proprietary funds
- A fund type that uses accounting and reporting techniques similar to commercial enterprises. Examples of proprietary funds include internal service funds, such as a central motor pool or central public works facility, and enterprise funds.
- purchase order distribution
- Each purchase order shipment consists of one or more purchase order distributions. A purchase order distribution consists of the Accounting Flexfield information Payables uses to create invoice distributions.
- purchase order encumbrance
- A transaction representing a legally binding purchase. Purchasing subtracts purchase order encumbrances from funds available when you approve a purchase order. If you cancel a purchase order, Purchasing creates appropriate reversing encumbrances entries in your general ledger. Also known as obligation, encumbrance or lien.
- purchase order line
- An order for a specific quantity of a particular item at a negotiated price. Each purchase order in Purchasing can consist of one or more purchase order lines.
- purchase order requisition line
- Each purchase order line is created from one or more purchase order requisition lines. Payables creates purchase order requisition lines from individual requisitions.
- purchase order shipment A scheduled delivery of goods or services from a purchase order line to a specified location. Each purchase order line can have one or more purchase order shipments.
Payables defines a purchase order shipment by a purchase order line location you enter in Payables. When you perform matching during invoice entry, you can match an invoice to one or more shipments.
- purchasing site A supplier site from which you order goods or services. You must enter at least one purchasing site before Purchasing will allow you to enter a purchase order.
- A Payables process where you identify a group of records for Payables to delete from the database. Payables purges each record and its related records. Payables maintains summary data for each record it purges.
- purgeable flag
- A flag in Payables you use to determine whether you can purge an imported invoice from the database.
Payables automatically enters Yes for the purgeable flag on all expense reports you enter in the Payables Expense Report window, allowing you to purge all expense reports, after importing, without updating the purgeable flag. Oracle Projects enters No for the purgeable flag on all expense reports you enter in Oracle Projects. You must update the purgeable flag to Yes in Oracle Projects before you can purge the expense report in Payables. Payables does not display the purgeable flag for any invoices.
- Quick Check
- See Quick payment.
- Quick payment
- A feature you use to create an automatic payment on demand. With Quick payment, you choose the invoices you want to pay, and Payables creates the check on a printer you choose. You can also void and reissue a Quick payment if your printer spoils it while printing.
- Quick Release
- A feature you can use to release all user-assigned and many system-assigned invoice holds. You can define and apply unlimited approval criteria to an invoice, and you can then use QuickRelease to release all holds for a particular invoice, batch, or supplier with a single keystroke.
- A feature you use to create reference information you use in your business. This reference information appears in lists of values for many of the fields in Payables windows. There are three basic kinds of QuickCodes: supplier, payables, and employee. With QuickCodes you can create Pay Groups, supplier types, and other references used in Payables
- realized gain
- For foreign currency entries, a realized gain is the difference in your functional currency between the invoiced amount and the payment amount, if the payment in functional currency is less than the invoiced amount.
- realized gain or loss
- The actual gain or loss in value that results from holding an asset or liability over time. Realized gains and losses are shown separately on the Income Statement. See also unrealized gain or loss, foreign currency exchange gain or loss.
- realized loss
- For foreign currency entries, a realized loss is the difference in your functional currency between the invoiced amount and the payment amount, if the invoiced amount in functional currency is less than the amount of the payment.
- receipt acceptance period
- The number of days you allow for acceptance or rejection of goods. Payables uses this to recalculate invoice scheduled payments. You specify receipt acceptance days when you define your Financials options.
- A person to whom Oracle Alert sends a message. The recipient may receive a message through electronic mail or via a printer.
- The process of matching and clearing your bank account statement lines with payments and receipts entered in Payables and Receivables. A reconciled document has been matched to a bank statement line in Cash Management. Payables inserts a cleared date and amount for all payments that your bank reports as cleared.
- recurring invoice
- A feature that lets you create invoices for an expense that occurs regularly and is not usually invoiced. Monthly rents and lease payments are examples of typical recurring payments. You define recurring invoice templates and Payables lets you define recurring invoices using these templates. See also recurring rule.
- recurring rule A rule that is applied to the model invoice to determine the invoice dates of the recurring invoices. You can choose Annually, Bi-Monthly, Days, Monthly, Quarterly, Semi-Annually, Single Copy, and Weekly.
- An actual order of goods or services you issue against a blanket purchase order. The blanket purchase order determines the characteristics and prices of the items. The release specifies the actual quantities and dates ordered for the items. You identify a release by the combination of blanket purchase order number and release number.
- release code
- The release name Payables or you assign when releasing a hold from an invoice.
- remittance advice A document that lists the invoices being paid with a particular payment document. You can create and define remittance advices which you can use with any payment format or you can use a standard remittance advice that Payables provides.
- An organized display of Oracle Applications information. A report can be viewed online or sent to a printer. The content of information in a report can range from a summary to a complete listing of values.
- report headings
- Report headings provide you with general information about the contents of the report. Report headings provide you with the name of the Set of Books selected for all Payables transactions and reports. Payables prints the name of your Set of Books in the heading of most reports.
- report parameter
- A variable you use to restrict information in a report, or determine the format of the report. For example, you may want to limit your report to the current month, or display information by supplier number instead of supplier name. Most standard reports in Payables that you can submit manually have a set of report parameters.
- report set
- A group of reports that you submit at the same time to run as one transaction. A report set allows you to submit the same set of reports regularly without having to specify each report individually. For example, you can define a report set that prints all of your regular month-end management reports.
- requisition encumbrance
- A transaction representing an intent to purchase goods and services as indicated by the completion and approval of a requisition. Purchasing subtracts requisition encumbrances from funds available when you reserve funds for a requisition. If you cancel a requisition, Purchasing creates appropriate reversing entries in your general ledger. Also known as commitment, pre-encumbrance or pre-lien.
- Reserve for Encumbrance
- A portion of fund balance you use to record anticipated expenditures. In Oracle Financials, you define your Reserve for Encumbrance account when you define your set of books. Oracle Financials uses your Reserve for Encumbrance account to create offsets for unbalanced encumbrance entries you create in Purchasing, Payables, and General Ledger.
- Reserve for Encumbrance account
- The account you use to record your encumbrance liability. You define a Reserve for Encumbrance account when you define your set of books. When you create encumbrances automatically in Purchasing or Payables, General Ledger automatically creates a balancing entry to your Reserve for Encumbrance account as you post your encumbrance journal entries. General Ledger overwrites the balancing segment for your Reserve for Encumbrance account, so you automatically create the reserve for encumbrance journal entry to the correct company.
- A level of authority in an application. Each responsibility lets you access a specific set of Oracle Applications windows, menus, reports, and data to fulfill your role in an organization. Several users can share the same responsibility, and a single user can have multiple responsibilities.
- reversing journal entry A journal entry General Ledger creates by reversing an existing journal entry. You can reverse any journal entry and post it to any open accounting period.
- RFQ Only Site A supplier site from which you receive quotations.
- rollup group
- A collection of parent segment values for a given segment. You use rollup groups to define summary accounts based on parents in the group. You can use letters as well as numbers to name your rollup groups.
- sales tax
- A tax collected by a tax authority on purchases of goods and services. The supplier of the good or service collects sales taxes from its customers (tax is usually included in the invoice amount) and remits them to a tax authority. Tax is usually charged as a percentage of the price of the good or service. The percentage rate usually varies by authority and sometimes by category of product. Sales taxes are expenses to the buyer of goods and services.
- scheduled payment
- A schedule used to determine the amount and date of payment due. You use payment terms to determine your scheduled payment as well as any discounts offered. See also payment terms.
- secondary accounting method
- The accounting method you choose for your secondary set of books. You can choose either the cash basis or accrual basis accounting methods. Your secondary accounting method cannot be the same as your primary accounting method. You do not need a secondary accounting method if you do not use a secondary set of books.
- secondary set of books
- The set of books you maintain for reporting purposes. You can run your business using accrual accounting and report on a cash basis, or run your business on a cash basis and report on an accrual basis.
- serial number
- A number assigned to each unit of an item and used to track the item.
- serial number control
- A system technique for enforcing use of serial numbers during a material transaction, such as receipt or shipment.
- set of books
- A financial reporting entity that uses a particular chart of accounts, functional currency and accounting calendar. You must define at least one set of books for each business location.
- Settlement Date
- The date before which you cannot apply a prepayment to an invoice. Payables prevents you from applying a temporary prepayment to an invoice until on or after the Settlement Date of the prepayment.
- shorthand alias
- A user-defined code or character string that represents a complete or partial flexfield value. You can define as many aliases as you need for each key flexfield.
- shorthand flexfield entry
- A quick way to enter key flexfield data using shorthand aliases (names) that represent valid flexfield combinations or patterns of valid segment values. Your organization can specify flexfields that will use shorthand flexfield entry and define shorthand aliases for these flexfields that represent complete or partial sets of key flexfield segment values.
- shorthand window
- A single-segment customizable field that appears in a pop-up window when you enter a key flexfield. The shorthand flexfield pop-up window only appears if you enable shorthand entry for that particular key flexfield.
- The origin of imported invoices. When you enter and import an expense report in Payables or Web Employees, the source is Payables Expense Reports. When you import an expense report from Oracle Projects, the source is Oracle Projects. You can define other sources in Payables for invoices you import from other accounting systems.
- split amount
- A dollar amount that determines the number of invoices over and under this amount, as well as the total amounts remaining. For example, your company generates invoices that are either $300 or $500. You choose $400 as your split amount so that you can review how much of your open receivables are comprised of your $300 business and how much corresponds to your $500 business.
- split payment terms
- A feature used to automatically schedule multiple payments for an invoice. You can split payments using either a flat amount or a percentage of the total amount due.
- spot exchange rate
- A daily exchange rate you use to perform foreign currency conversions. The spot exchange rate is usually a quoted market rate that applies to the immediate delivery of one currency for another.
- statistical quantity
- Statistical information relating to the unit of measure for an invoice distribution line. For example, when you enter invoices for office rent, you can enter Square Feet (or whatever Unit of Measure you define in General Ledger) in the Unit field for an invoice distribution, and the number of square feet in the Statistical Quantity field for an invoice distribution. Payables includes the statistical quantity in the journal entries it creates for General Ledger during posting. You must use General Ledger in order to define a unit of measure and to be able to enter statistical quantities.
- status line
- A status line appearing below the message line of a root window that displays status information about the current window or field. A status line can contain the following: ^ or v symbols indicate previous records before or additional records following the current record in the current block; Enter Query indicates that the current block is in Enter Query mode, so you can specify search criteria for a query; Count indicates how many records were retrieved or displayed by a query (this number increases with each new record you access but does not decrease when you return to a prior record); the <Insert> indicator or lamp informs you that the current window is in insert character mode; and the <List> lamp appears when a list of values is available for the current field.
- summary message
- A summary message is a message representing one or more exceptions. The message includes an introductory paragraph followed by the exceptions listed in a columnar report format.
- summary threshold
- The number of exceptions after which you want Oracle Alert to send a message for a particular distribution. For example, if you define the threshold at five, and Oracle Alert locates between one and five exceptions, the recipients get one to five separate detail messages. But if Oracle Alert locates six or more exceptions, the recipients get one summary message that includes all the exceptions.
- supplier A business or individual that provides goods or services or both in return for payment.
- supplier codes
- A feature you use to define various kinds of supplier information, such as Pay Group and Supplier Type. You can create as many lookup codes for each item as you require. You can add or inactivate Supplier Codes to meet your changing business needs.
- supplier number A number or combination of numbers and characters that uniquely identifies a supplier within your system.
- supplier site
- A facility maintained by a supplier for the purpose of conducting business. A supplier may have one or many supplier sites.
Payables maintains supplier information regarding each supplier site you define for a supplier. You may define a supplier site as a pay site only, a purchasing site only, both a pay site and a purchasing site, or as an RFQ only site, in which case it may not have purchase orders entered against it. See also pay site, purchasing site, RFQ only site.
- The area in which an Oracle database is divided to hold tables.
- tax authority
- A governmental entity that collects taxes on goods and services purchased by a customer from a supplier. In some countries, there are many authorities (e.g. state, local, and federal governments in the US), while in others there may be only one. Each authority may charge a different tax rate. You can define a unique tax name for each tax authority. If you have only one tax authority, you can define a unique tax name for each tax rate that it charges.
- Tax Identification Number
- In the United States, the number used to identify 1099 suppliers. If a 1099 supplier is an individual, the Tax Identification Number is the supplier's social security number. If a 1099 supplier is a corporation, the Tax Identification Number is also known as the Federal Identification Number. In some countries this value is called a NIF.
- tax line type
- A distribution line used to record a sales or VAT tax charge on an invoice. See also invoice distribution line.
- tax tolerances
- The acceptable degrees of variance you define for the differences between the calculated tax amount on an invoice and the actual tax amount on the invoice. The calculated tax amount is the amount of tax on the invoice as determined by the tax name for the invoice (which has a defined tax rate) and the amount of the invoice. The actual tax amount is the sum of all the tax distribution lines. If the variance between these two amounts exceeds the tolerances you specify, Approval places the invoice on hold.
- tax type
- A feature you use to indicate the type of tax charged by a tax authority when you define a tax name. Payables uses the tax type during invoice entry to determine the financial impact of the tax. When you enter a tax of type Sales, Payables creates a separate invoice distribution line for the tax amount. When you enter a tax of type Use, Payables does not create the invoice distribution line.
- Terms Date Basis
- The method that determines the date from which Payables calculates an invoice scheduled payment. The terms date basis can be Current, Goods Received, Invoice, or Invoice Received.
- See Tax Identification Number.
- A feature you use to specify acceptable matching and tax variances. You can specify either percentage-based or amount-based tolerances or both for quantity and item price variances between matched invoices and purchase orders. You can also specify percentage-based or amount-based tolerances for your tax variances. Approval uses the tolerance levels you define to determine whether to hold or approve invoices for payment. See also Matching Tolerances, Tax Tolerances.
- transaction code
- A feature you use to describe bank transactions prior to initiating automatic reconciliation from a bank tape. You define transaction codes based on those your bank provides, and Payables uses them to load information from your bank tape. For example, your bank may use transaction codes T01, T02, and T03 to represent debit, credit, and stop payment.
- unit of measure
- You can define a unit of measure in Oracle General Ledger and see the unit of measure information in Payables when matching an invoice to a purchase order. For example, you may want to define a unit of measure for Square Feet and then, when you enter invoices for office rent, you can track the square footage in addition to the dollar amount of the invoice. See also Statistical Quantity.
- unrealized gain or loss
- The measured change in value of an asset or liability over time. Payables provides a report (the Unrealized Gain and Loss Report) that you can submit from the standard report submission form at any time to review your unrealized gains and losses. See also realized gain or loss.
- use tax
- A tax that you pay directly to a tax authority instead of to the supplier. Suppliers do not include use tax on their invoices. You sometimes owe use tax for goods or services you purchased outside of, but consumed (used) within the territory of a tax authority. Use taxes are liabilities to the buyer of goods and services. You can define a tax name for use taxes. When you enter a use tax name on an invoice, Payables does not create an invoice distribution or general ledger journal entry for the tax.
- Data you enter in a parameter. A value can be a date, a name, or a code, depending on the parameter.
- value set
- A group of values and related attributes you assign to an account segment or to a descriptive flexfield segment. Values in each value set have the same maximum length, validation type, alphanumeric option, and so on.
- value added tax (VAT)
- A tax on the supply of goods and services paid for by the consumer, but collected at each stage of the production and distribution chain. The collection and payment of value added tax amounts is usually reported to tax authorities on a quarterly basis and is not included in the revenue or expense of a company. With Payables, you control the tax names on which you report and the reference information you want to record. You can also request period-to-date value added tax reports.
- vendor See supplier.
- void check stock
- A feature you use to void a range of blank check stock.
- voucher number
- A number used as a record of a business transaction. A voucher number may be used to review invoice information, in which case it serves as a unique reference to a single invoice.
- An order by authorized legislative or executive officials directing the treasurer to pay a specific sum to order or to the bearer. It may be payable upon demand, in which case it usually circulates the same as a bank check; or it may be payable only out of certain revenues, when and if received, in which case it does not circulate as freely.
- weighted-average translation rate
- The rate General Ledger uses to translate your functional currency into a foreign currency for your transactions. Payables provides transaction information based on daily rates you enter in the system and rate exceptions you define for individual transactions. This transaction information allows General Ledger to calculate an accurate weighted-average translation rate.
- In some cases, the Internal Revenue Service requires companies to withhold a portion of payments to 1099 suppliers who meet specific criteria. These payments are for federal income tax. Before withholding any payments, you need to inform the supplier in writing. You then send the accumulated withholding amount, with another window, to the Internal Revenue Service once per quarter.
- withholding tax group
- You can assign one or more Withholding Tax type tax names to a withholding tax group. Assign a withholding tax group to an invoice or distribution line and use Oracle Payables to automatically withhold tax for expense reports and supplier invoices.
- withholding tax rate
- The rate at which Payables withholds tax for an invoice distribution line that has a Withholding Tax type tax name assigned to it.
- See expense report.
- A forms feature that is obsolete in GUI versions of Oracle Applications.