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Implementing Cloud Financials: From Empty Pod to Go-Live · Module 8 · Payables and Payments

Common options and invoice options

Lesson 77 of 153 · 14 min

Configure the common options per business unit — liability account, prepayment account, discount and expense accounts. Then invoice options: matching defaults, tolerance settings, validation behaviour, currency handling. Then payment options. The lesson explains each account default by showing the journal it lands in rather than by describing it. These are per business unit. Three business units means three passes — the maintenance cost the granularity lesson predicted, arriving with a number attached. The default accounts here are the fallback when Subledger Accounting has nothing more specific. Get them right: wrong defaults produce quietly wrong accounting, which balances and reports and is still wrong. And match tolerances: agree the numbers with the client's AP manager in writing. They will be argued about later, and the argument goes differently when there is a document.

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In this module: Module 8 · Payables and Payments

  1. 1The procure-to-pay picture
  2. 2Common options and invoice options
  3. 3Payment terms and distribution sets
  4. 4The supplier model
  5. 5Creating suppliersFree preview
  6. 6The payments engine
  7. 7Payment methods, profiles, documents
  8. 8Invoice approval workflow
  9. 9End to end: invoice to payment to accounting
  10. 10What breaks
  11. 11Lab: full procure-to-pay