Payables Trial Balance Report

Use the trial balance to verify that total accounts payable liabilities in Oracle Fusion Payables equal those that were transferred to the general ledger.

Reconcile posted invoices and payments to ensure the net amount posted to the general ledger accurately reflects the change in the accounts payable balance.

To reconcile accounts payable activity:

• Add the posted invoices for the current period (total invoice amount from the Payables Posted Invoice Register).

• Subtract the posted payments for the current period (total cash plus discounts from the Payables Posted Payments Register) from the prior period trial balance.

This amount should equal the balance for the current period Payables Trial Balance report.

For example, you're closing the April accounting period and you posted the final invoice and payment batches to the general ledger. To reconcile accounts payable activity for April, perform the following calculation: March Payables Trial Balance + April Payables Posted Invoice Register - April Payables Posted Payment Register = April Payables Trial Balance.

Tip: The Payables Trial Balance Report is based on information stored in Payables and Oracle Fusion Subledger Accounting. To reconcile with the balances stored in Oracle Fusion General Ledger, you must use the Payables to General Ledger Reconciliation Report.

You can run this report from the Scheduled Processes work area.

Note: The Payables Trial Balance Report works only for ledgers that use accrual basis accounting.

Before running this report:

• When defining natural account values, assign the financial category of Payables to all accounts to include in the Payables Trial Balance. To report bills payable payments that were issued, but not yet negotiable, assign the financial category of Payables to the bills payable account as well.

• Account and post invoice and payment activity to the general ledger.

Parameters

Ledger

Specify the ledger. You can select a primary or secondary ledger, or a reporting currency ledger.

Note: The original invoice amount is only provided when you run the report for the primary ledger. Base amounts for transactions are stored only in the currency of the primary ledger.

Business Unit

Specify the business unit or leave blank to include all business units.

Liability Account As-of Date

Specify the date for the liability account.

Party Name

Enter a party to limit the report to a single supplier or party.

Account From

Select the accounts.

Negative Balances Only

Select Yes to limit the report to suppliers with negative balances.

Include Bills Payable

Select whether to include bills payable invoices on the report.

Understanding the Report

The trial balance lists and subtotals, by supplier and liability account, all unpaid and partially paid invoices that were transferred to the general ledger. Credit liability amounts are reported as positive amounts because they represent outstanding balances. Debit liability amounts decrease the outstanding balance.

Account

Lists all accounts included in the specified range that:

• Have a financial category of Payables

• Have an open balance on the liability account date

Open Balance

Adds the credits to the liability account, such as invoices and refunds, and subtracts the debits, such as credit memos and payments. A positive number corresponds to an outstanding balance and a negative number represents an overpayment to the supplier.

You can select an open balance to drill down to the account detail.

Party

Lists the suppliers with open balances.

Open Balance

Adds the credits to the liability account, such as invoices and refunds, and subtracts the debits, such as credit memos and payments. A positive number corresponds to an outstanding balance and a negative number represents an overpayment to a supplier.

You can select an open balance to drill down to the party detail.

Transaction Type

Lists the type of transaction, such as Standard Invoice, Debit Memo, Credit Memo, Prepayment, Withholding Invoice, and Payment Request.

Payment Status

Lists the payment status, such as Unpaid, Partially Paid, and Canceled.

Note: A canceled invoice is reported if the invoice was canceled after the specified liability account date, but still outstanding on that date.

Original Amount

If you submit the report for the primary ledger, lists the amount originally booked to the liability account when the invoice was entered. If you use automatic offsets, only the amount allocated to the referenced account combination displays on the report.

Remaining Amount

Nets credits and debits booked to the liability account for the invoice, with an accounting date before or on the liability account date.