E1: 04: Overview of EnterpriseOne Accounts Payable Setup
(Doc ID 1409284.1)
Last updated on DECEMBER 18, 2019
JD Edwards EnterpriseOne Accounts Payable - Version XE and later Information in this document applies to any platform.
Accounts Payable Overview
An accounts payable department has many responsibilities to fulfill to ensure that payments to suppliers are made on time and the needs for flexibility in the organization are met:
Managing Supplier Relationships - The accounts payable department is responsible for creating and maintaining a partnership with each supplier to ensure that all terms and conditions of the relationship are met.
Processing Vouchers - The accounts payable department receives invoices and records liabilities and corresponding expenses or assets. Often, the accounts payable department will have to match vouchers with invoices and purchase orders from other departments such as purchasing.
Processing Payments - The accounts payable department ensures that payments are made in the most timely, accurate, and efficient manner possible. Before paying its suppliers, the accounts payable department needs to consider several factors, such as the due date of the invoice, whether a discount can be taken, and the amount of cash on hand versus the amount due to suppliers.
This document is intended for EnterpriseOne users who are setting up the Accounts Payable module for use within their organization.
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