Indirect Tax and ERP Notes SAP/Oracle Apps

Standard Options Each set of books has a number of flags that indicate the accounting practices you want to follow for that set of books. Allow Suspense Posting:  Allows users to post out-of-balance journal entries (debits do not equal credits), and automatically balance those journal entries by posting the offset against a suspense account. If you enable this option, you must enter a suspense account for the set of books. If you do not allow suspense posting, you can only post journal entries that balance. Balance Intercompany Journals : Allows users to post out-of-balance intercompany journal entries (debits do not equal credits for a particular company or balancing entity), and automatically balance intercompany journals against an intercompany account you specify. If you enable this option, you must enter an intercompany account for the set of books. If you do not choose to balance intercompany journals, you can only post intercompany journals that balance by bal...

A set of books determines the functional currency, account structure, and accounting calendar for each company or group of companies. Set of books consist of 3 C's .i.e., 1)Chart of Accounts 2)Currency  3)Calender There are two basic type of Set of books (SOBs): 1) Primary Set of Books  (which consist of functional curency) 2) Secondary Set of Books  (which consist of reporting curency)  If you need to report on your account balances in multiple currencies, you should set up one additional set of books for each reporting currency. Your primary set of books should use your functional currency. Each reporting set of books should use one of your reporting currencies. When you define a set of books, you can also choose to enable budgetary control for the set of books. If you choose this option, encumbrances will be created automatically for your transactions in General Ledger, Oracle Purchasing and Oracle Payables. Enabling budgetary control is the first step i...

Procure to Pay means  Procuring Raw Materials  required to manufacture the final or finished Goods from a Supplier to  Paying the Supplier  from whom the material was purchased. 1.Purchase Requisition Requisitions represent the demand. Requisition is a formal request to buy the needed raw materials.  Methods entering Requisitions Are generated by applications including Inventory, Work in Process (WIP), Material Requirements Planning (MRP) and Order Management. May be entered manually through Purchasing windows. May be entered using iProcurement. May be imported from external systems. Types of Requisitions 1] Internal Requisition  – Basically used when there is a Requirement from One Inventory Organization to the Other Inventory Organization (Inter- Organization Transfer) 2] Purchase Requisition  – Basically used when there is a Requirement to be fulfilled by Exter...

If a firm wants to implement multiple organizations within a single installation of Oracle Apps, then it can be termed a s a multi org setup.

Functionally: Manual Payment:  These are manual check payments. Payments processed by writing a cheque manually, issued to the Supplier and later updated in the system. you can select invoices having Payment Method as Electronic Quick Payment:  Quick payment are computer generated payments. Cheques will be printed from the system. for quick payments even though a check is voided we can reissue the same check since it is a computer generated payment. interest invoices are generated only for quick payment Technically : With Manual Payment option, you can apply the payment on any invoice and on any Site of the Supplier.  Manual Payments can be recorded against invoice with supplier site having a 'Hold All Payments' checked whcih is not possible in case of Quick Payments Where as in Quick Payment, system picks up the Supplier Name and Address based on the invoice you selected to pay and you are not allowed to alter the site details.

Read about type of invoices here Standard Purchase Orders You generally create standard purchase orders for one-time purchase of various items. You create standard purchase orders when you know the details of the goods or services you require, estimated costs, quantities, delivery schedules, and accounting distributions. If you use encumbrance accounting, the purchase order may be encumbered since the required information is known. Blanket Purchase Agreements You create blanket purchase agreements when you know the detail of the goods or services you plan to buy from a specific supplier in a period, but you do not yet know the detail of your delivery schedules. You can use blanket purchase agreements to specify negotiated prices for your items before actually purchasing them. Blanket Releases You can issue a blanket release against a blanket purchase agreement to place the actual order (as long as the release is within the blanket agreement effectivity dates). If you use ...

Go to HR superuser 1)Define security profile.    Add orgs 2)Submit req -- Security list maintenance 3) Assign it