Important Notes for Apps Oracle Fin Consultnats



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Download Important Notes for Apps Oracle Fin Consultnats
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"Procure to Pay" 1 Inventory Item At Receipt Receiving Inventory Account Dr 2 Asset Item At Receipt Receiving Inventory Account Dr Inventory AP Accrual Cr No acounting entries at the time of inspection Expense AP Accrual Cr No acounting entries at the time of inspection On Deliver Inventory RM (Valuation) Account Dr Receiving Inventory Account Cr At the time of Invoice On Deliver Asset Clearing account (Charge) Dr Receiving Inventory Account Cr At the time of Invoice Inventory AP Accrual Dr Liability Cr Expense AP Accrual Dr Liability Cr At Payment Liability Dr Cash Clearing Account Cr After Clearing Cash Clearing Account Dr Cash Account Cr At Payment Liability Dr Cash Clearing Account Cr After Clearing Cash Clearing Account Dr Cash Account Cr P2P Prerequistes Ledger ,Legal Entity,Multi Org Purchsing Moduler Setup like Fincancial Options,Purchasing Options,Receiving Options Purchasinng Components like Job,postion,Employee, Buyer,Hirrachy,Approval Groups and Assignments Inventory Module Setup with All Parameters Items Setup in the Inventory 3 Expense Item At Receipt Receiving Inventory Account Dr No Change Module Purchasing Expense AP Accrual Cr No accounting entries at the time of inspection On Deliver Expense Account (Charge) Dr Receiving Inventory Account Cr At the time of Invoice Purchasing Expense AP Accrual Dr Liability Cr Purchsing At Payment Liability Dr Cash Clearing Account Cr After Clearing Cash Clearing Account Dr Cash Account Cr CM CM Purchsing CM Functional Setup Receiving Options Expense AP Accrual will be in Purchasing Options, Inventory AP Accrual will be In Org Parameters in other accounts in Receiving Accounts Receiving Options Expense AP Accrual will be in Purchasing Options, Inventory AP Accrual will be In Org Parameters in other accounts in Receiving Accounts Financial Options In Accounting Tab Financial Options In Accounting Tab In Bank Accounts ,General Control Tab In Bank Accounts ,General Control Tab In Bank Accounts ,General Control Tab Oracle Assets gives you visibility into your assets worldwide Standard management tasks-such as asset transfers, disposals, reclassifications, financial adjustments, and tax legacy data conversion-can be streamlined with automated business flows Overview of Oracle Assets Management II Creating Assets Responsibility III Oracle Fixed Assets Setups 1 Define Calendar a Fiscal Calendar b Calendar c Prorate Conventions 2 Define Book Control a Corporate Book b Tax Book 3 System control a Category Flexfield b Assigning Category Values c Asset Key Flexfield d Location Flexfield 4 Creating Asset categories IV Asset Work bench 1 Asset Additions 2 Asset Quick Additions 3 Asset Assignments 4 Asset Source Lines 5 Asset Financial Inquiry 6 Asset Books 7 Asset Open 8 Asset Retirements 9 Asset Reinstate V Mass Transactions a Mass Additions b Mass Transfer c Mass Changes d Mass Revaluations e Mass Reclassifications f Mass Retirements g Mass Reinstate VI Physical V11Updating a Tax Book with Assets and Transactions Month End Process 1 Depreciation Preview 2 Roll Back Depreciation 3 Run Depreciation Period Close 4 Create Accounting and Transfer to General Ledger 1Key Features of iProcuremnet •Oracle Internet Procurement 11i provides an intuitive, web shopping interface •With a web browser, quickly find goods and services, add them to the shopping cart, and simply checkout •Streamlined Order Placement - Shopping Shopping Lists Multiple Shopping Carts Copy Orders Service requests Non Catalog Requests Automatic Document creation Centralized Purchasing •Streamlined Order Placement - Delivery Inventory Replenishment Requests •Streamlined Order Placement - Billing Procurement Card Purchases for Catalog Orders Oracle Projects Integration Multiple Account Distributions and Account Generation Workflow Integration •Streamlined Order Placement Notes - Additional Item Information, Upload and View Attachments Approvers - Approval Routing Configuration, Vacation Scheduling Review/Submit, Cancellations •Desktop Receiving Requesters can receive orders in iProcurement and confirm receipt of requested goods and services iProcurement automatically records the receipt transaction 2PreRequisites for I Procurement •Oracle Core Purchasing setups For example : Jobs, Positions, Employees, Hierarchy, Approval groups, Assignments, Item categories, Buyers, Purchasing / Financial / Receiving options etc, •Items availability in iProcurement from : Internal Catalog: Items assigned to categories which are enabled for iProcurement External Catalog: Managed by Supplier / Third Party / Self 3Wat Iprocurement can do With iProcurement employees can: •Create purchase requisitions using a web browser •Order from on-line catalogues •Track the progress of requisitions in process •Confirm receipt of requisitioned goods •Respond to workflow notifications to approve, reject, and reassign purchase requisitions •Monitor the on-line approval process 4 Important Funcational Setups for I -Procurement 1Descriptive Flexfield for Item Categories Requied Define Information Templates Optional Define Realms Optional Set Up Attachments Optional Set Up Profile Options Required 7Enable Function Security Optional I procurement •Overview •Prerequisites for iProcurement •Setup Overview •Logging into iProcurement •Cataloging Process •Creating Purchase Requisitions in iProcurement •Creating Internal Requisitions in iProcurement •Managing Purchase Requisitions •Notifications and To-Do List •Receiving in iProcurement •Returns •Correct Receipts Procurement Card goods and services A Oracle Purchasing I Overview of Oracle Purchasing II Creating a Purchasing Responsibility III Oracle purchasing set up 1 Options a Financial Options b Purchasing Options c Receiving Options 2 Defining Buyer 3 Approval Setups a Define Approval Groups b Define Approval Assignment c Creating Approval Hierarchy 4 Define Items 5 Entering Supplier Information 6 Open Period a Purchasing Period b Inventory Period IV Purchasing Process 1 Requisitions-introduction 2 Performing Requisition Inquiry 3 Creating RFQs 4 Copying Quotations from RFQ‟s 5 Copying Quotations to Standard Purchase Order 6 Creating Standard Purchase orders 7 Creating Blanket Purchase Order 8 Creating Planned Purchase order 9 Entering purchase order receipts 10 Correcting receiving transactions and entering returns V Integration with Payables a Auto Invoice process