Define accounts for your Payables accounting entries during system setup. The following table shows the windows in which you can define your accounts, and the last window in which you can override the value that the system uses. You can override a default account at any time, and its new value will be used for any future transactions.
| Account | Last Window in Which You Can Override Default | You Define the Account in the Following Windows, and it Defaults Through these Windows in the Following Order: |
|---|---|---|
| Bank Charges | Payment Documents (GL Accounts region) | Bank Accounts (GL Accounts region) |
| Bank Errors | Payment Documents (GL Accounts region) | Bank Accounts (GL Accounts region) |
| Cash (affected by Automatic Offsets) | Bank Accounts (GL Accounts region) | n/a |
| Cash Clearing | Payment Documents (GL Accounts region) | Bank Accounts (GL Accounts region) |
| Discount Taken (affected by Automatic Offsets) | Payables Options (Payment region, Discount Distribution Method) | Financials Options (Accounting region) |
| Freight | Distributions | Payables Options (Invoice region) |
| Future Dated Payment (Payables option specifies default from payment document or supplier site) | Payment Documents (Future Date Payments region) or Supplier Sites (Accounting region) | Financials Options (Accounting region) Suppliers (Accounting region) |
| Interest Invoice Expense | Distributions | Payables Options (Interest region) (Note that the Prorate Across Overdue Invoice Payables option controls whether Payables builds the account or if it uses the Interest Invoice account.) |
| Interest Invoice Liability | Invoices | Payables Options (Interest region) |
| Liability (affected by Automatic Offsets) | Invoices, or Recurring Invoices (Template region) | Financials Options (Accounting region) Suppliers (Accounting region) Supplier Sites (Accounting region) |
| Prepayment | Supplier Sites (Accounting region) | Financials Options (Accounting region) Suppliers (Accounting region) (Note that the Build Prepayment Accounts When Matching Payables option controls whether Payables builds the accounts for purchase order matched prepayments, or if it just uses the supplier site's prepayment account.) |
| Rate Variance Gain/Loss | Financials Options (Accounting region) | N/A |
| Realized Gain/Loss (affected by Automatic Offsets) | Bank Accounts (Payables Options region) | Payables Options (Currency region) |
| Rounding | Payables Options (Currency region) | N/A |
| Tax (includes Withholding Tax and recoverable tax) | Distributions | Tax Codes |
For information on expense and liability accounts on Interest Invoices, see: Accounting for Interest Invoices.
The default hierarchy for account values defined in Oracle Purchasing and Oracle Inventory are presented in the following table:
| Product | Account | Last Window in which you can Override Default |
|---|---|---|
| Oracle Purchasing | Expense Accounts Payable Accrual Account | Purchasing Options (Accounting region) |
| Oracle Inventory | Inventory Accounts Payable Accrual Account | Organization Parameters |
| Oracle Inventory | Invoice Price Variance Account | Organization Parameters |
Other Sources
Payables Navigator Paths, Oracle Payables Reference Guide.
Banks, Oracle Cash Management User Guide