Monday, August 17, 2015

Oracle Payables – Types of Invoices:

Oracle Payables – Types of Invoices:

Following are few types of invoices in Oracle Account Payables Module

Invoice Type
Description
Standard
Standard invoice from a supplier representing an amount due for goods or services purchased. Standard invoices can be either matched to a purchase order or not matched.
Credit Memo
Credit memo from a supplier representing a credit amount toward goods or services.
Debit Memo
An invoice entered to record a credit for a supplier who does not send you a credit memo.
Mixed
Mixed type invoice - An invoice type entered for matching to both purchase orders and invoices. Can enter either a positive or a negative amount for a Mixed invoice type.
Prepayment
A type of invoice entered to pay an advance payment for expenses to a supplier or employee
Expense Report
An invoice representing an amount due to an employee for business-related expenses.
Transportation Invoices
Invoices From Freight Payment & Audit of Transportation
Interest
Interest invoice - If interest invoices are allowed, payables will automatically calculate interest for overdue invoices and create interest invoices for selected suppliers.
Withholding Tax
Withholding Tax Invoice - An invoice entered to remit taxes withheld to the appropriate tax authority.
Retainage Release
Invoices created for complex work and advance contract financing.

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