How Invoices and Payments Are Accounted
You can create accounting entries for invoice and payment transactions using Oracle Fusion Subledger Accounting. Subledger Accounting creates the final accounting for subledger journal entries and transfers the accounting to Oracle Fusion General Ledger.
Subledger Accounting uses a set of predefined account rules to create accounting, but you can define your own detailed accounting rules.
Payables Event Classes and Types
Subledger Accounting uses predefined accounting event classes and accounting event types. You can change your accounting setup to create accounting for some events and not for others.
This table lists the predefined payables event classes and types.
Event Class | Event Type |
---|---|
Adjustment Entry | Manual |
Bills Payable |
|
Credit Memos |
|
Debit Memos |
|
Escheated Payments |
|
Invoices |
|
Payments |
|
Prepayment Applications |
|
Prepayments |
|
Reconciled Payments |
|
Refunds |
|
Third-Party Merge |
|