An invoice is an itemized list of goods shipped or services rendered, with an account of all costs. Oracle Payables lets you capture all the attributes of the real-life invoice documents you receive from your suppliers. When you enter an invoice in Payables, the invoice information is divided between the invoice header and the invoice lines.
Standard Invoice -
Standard invoice can be matched anything. You can made a payment with matching or without matching to purchase order.
Debit Memo Invoice - Debit memo invoice is raise by the purchaser and it is reduce the purchase liability and vendor/ supplier balance . The reason of raising credit memo invoice are - Over Billing , Over Tax , Wrong Billing , Over Freight and increase liability .
Credit Memo Invoice - Credit memo invoice is raise by the supplier and it is reduce the purchase liability . The reason for raising this invoice are - Over Billing , Over Tax , Wrong Billing , Over Freight and increase liability .
Account entry – charge to liability
AWT Invoice - AWT invoice is create by the system for tax deducting at source while making payment to certain type of supplier
Setup of AWT invoice
1- Setup Tax Authority Supplier
2- Setup Spacial Calender
3- Setup withholding tax type and rates
4- Setup withholding tax group
5- setup withholding tax option in payables option form
6- Assign withholding tax to regular Supplier
Mixed Invoice - Mixed invoice can have either positive or negative sign . If sign is positive . It is react as a standard invoice . It is reduce the purchase liability . If sign is negative. It is work as credit memo invoice.
PrePayment Invoice- Prepayment invoice is used for payment to advance expenditure to employee. Advance tax to tax authority and advance payment to supplier. There are two type of prepayment invoice -
1- Permanent prepayment invoice.
2- Temporary prepayment invoice.
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