Retention of money
From: Ora-Tech Systems[SMTP:ora-tech@usa.net]
Sent: 17 June 1999 13:28
Subject: Retention of money
Hi there,
I have a query in Oracle Payables.There is a scenario in which i have
to
deduct 10% of the invoice & post it to an account Retention
Payable.So if an invoice comes of Rs. 100,000, 90,000 should be paid to the
supplier.An entry
will be made like this :
Asset/Expense A/C 100,000
Accounts Payable 90,000
Retention Payable 10,000
The remaining 10,000 will be afterwards.
One more question, what is the functionality of parent child
relationship in suppliers. Can i link the outstanding invoices of child with those of
parent's.
Thanks in advance for the help.
Fariha
From: Zaman Joan [SMTP:ZamanJ@mail.europcar.com]
Sent: Thursday, June 17, 1999 12:40 PM
Subject: RE: Retention of money
seems like you could do something with the withholding tax
functionality.
best regards,
joan.
Date: Fri, 18 Jun 1999 15:57:34 +0530
From: Ashish Behera ABehera@usit.co.in
Subject: RE: Retention of money
hi Fariha,
i have also faced this problem.As far as i know there is no such option
in Oracle payables. i have tried it using Witholding Tax form but was
not sucessfull. so at last i created a descriptive flexfield in
'Payment schedule' form in 'enter invoice' screen and defined
'Retention' as a hold reason there.
say you have got invoice of RS 50000.out of which 10000 is rentention
amount.
so what you can do is enter the full amount(Rs50000) in the invoice and
in 'Payment schedule' screen
put Rs 10000 on hold giving 'Rentention' as a hold reason and the date
on which you will be paying the retention amount..So whenever you go to
payment screen
only rs40000 will appear for payment.
Here you can't put the renention amount in a account code.But you can
make a report showing the amount held as rentention amount in Developer
2000.
regarding your Parent child relationship it is just to keep records of
your vendors.
hope this will help you.
regards
ashish
From: Suresh Chhabria chab_suresh@hotmail.com
Subject: REply: Retention of money
Date: Fri, 18 Jun 1999 13:08:31 -0400 (EDT)
Fariha,
These are the issues to be considered before you go ahead:
- What is the deduction is it 10% of invoice amount
- what about tax
- what about discounts how will they be treated
- set up of witholding pattern:
The whole logic will build around the above considerations. Basically
customization has to be done before auto approval processs.
System to compute what is the amount to be retained.
System to allow the balance to be paid
System to compute the discount in case allowed
System to hold the balance payable against all invoices and till
what time- hold process to be time based - database trigger to incorporate
if so
In future run of payment program how these balance payable be paid.
I hope all the above will decide as to how to customize the program
which could either be during auto approval or before paying the invoices or
during invoice entry.
HTH,
Suresh Chhabria
sureshchhabria@yahoo.com
Implementation consultant/quality assurance auditor
Packed enterprise applications - SAP/ Oracle
New York, USA
Date: Fri, 18 Jun 1999 17:16:08 PDT
From: Ananth Swaminath ananth999@hotmail.com
Subject: Reply: Retention of money
Hi Fariha
It is possible to for a workaround for retentions in Accounts Payable. I am
assuming that you have a contractual relationship with your supplier and
need to (per the terms of the contract) deduct a pre-determined percentage
from the invoice submitted to you. And this being an ongoing process, the
application of user defined holds on payments would prove to be a pretty
cumbersome task.
Further, the use of withholding tax is really not required at all.
In terms of automating this process - there is no real way of doing so
unless you resort to customisations at the core level - which is not the
real way to go. What you should be looking for is information - supplierwise
retentions (ideally). All reports relating to retentions will have to
customised. And that is as far you will have to go.
Another issue that may crop up is that of prepayments on invoices that have
to be retained.
Do get in touch with me direct in case you need any detailed clarifications
on the matter. I have used this workaround successfully and it works.
Ananth
Senior Applications Consultant
Payables Set-up For ACH Payments
Date: Fri, 18 Jun 1999 15:23:31 -0400
From: "Kevin J Mcguire" kmcguire@paychex.com
Subject: AP - Payables Set-up For ACH Payments
We are a 10.7 character shop looking to implement ACH Vendor payments.
What are the Vendor and application maintenance items that require
updates? How do you create your ACH file? Any assistance would be
appreciated. Thanks.
Date: Fri, 18 Jun 1999 15:42:46 -0400
From: Melanie Jubinville Melanie.Jubinville@future.ca
Subject: RE: AP - Payables Set-up For ACH Payments
We are doing ACH payments in 10.7 character.
What we did is we created a SQL program to select the required information.
The SQL generates (spooling) a flat file that we transmit to the bank.
We maintain the banking information at the vendor site level.
Melanie
Tracking Employees' reimbursement limits
Date: Thu, 29 Jul 1999 13:13:54 +0530
From: "Mehra, Varun (CAP, GECSI)" Varun.Mehra@geind.GE.com
Subject: AP-Reimbursements Limits
Hi everyone
We are on Rel 10.7 GUI, 16.1 Prodn SC with AP, GL, AR and FA modules. This
is a requirement of the users here which pertains to the tracking of
employee reimbursements as per their yearly limits. We do not capture
employees in the Accounting Flexfield, but each employee is a vendor in AP.
Also each employee has his/her limits to ceratin reimbursements like
Conveyance, Medical Expenses etc.
Please help with pointers as to how best can these limits be tracked in the
Apps so as to enable Accounts department not to track these limits off-line.
The users do not want to track these limits using Budgets and sub-accounts
for each emplyee. The reason being that we have more than 2000 employees and
counting and with a high turnover rate.
Early feedback from AP/GL experts would be GREATLY appreciated.
Many thanks
Varun Mehra
Manager-ERP Systems
GE Capital Services India
Tel: + 91-124-358030 (x666)
Date: Thu, 29 Jul 1999 05:31:16 -0700
From: "sean smith" kiowasean@zdnetmail.com
Subject: Re: AP-Reimbursements Limits
You don't indicate that you are using Oracle's PO system, but in an
organization your size, you must be using some sort of purchasing system. I
would suggest setting up a PO for each employee (vendor) and pay these
expenses only after a successful PO match. That way you can't pay more than
the limit.
If you don't have an integrated purchasing system, you might consider trying
to use "pre-payments" somehow. It would require some creativity, but it
might work.
Change Payment Method for an invoice
Date: Tue, 3 Aug 1999 11:14:33 +0200
From: Mike Bennet MikeB@langeberg.co.za
Cc: Jan Van Der Merwe JanV@langeberg.co.za
Subject: AP: Unable to change payment method for invoice
Hi
We are on 10.7 NCA 16.1 using AP, PO, INV, CE, GL, amongst other modules.
We want to change payment method for certain invoices which are approved and
posted, from Electronic Payment Method to Cheque (Check), and have been
unable to.
(We only want to do this as a once-off and not change the supplier payment
method for future invoices)
The following is background to our AP environment:
* We are Multi-org
* Our balancing segment is at Consolidating Enterprise level (the
highest level)
* The supplier setup for the invoices in question have Electronic
Payment method
* The suppliers in question do not have matching required set up
* We have a bank account for each organisation (which, of course, are
all visible to all organisations)
* We have created Paygroups for each organisation to facilitate
decentralised payment by each organisation
I have investigated the circumstances and the following are my findings:
* The problem appears to be specific to only two organisations. In all
our other organisations we can change the payment method after the invoices
are approved and posted to GL
* The problem does not appear to relate to whether the periods in AP
and GL are closed or not.
* The only consistent pattern I have noted is that, in those cases
where we can change the payment method, the 'Match' button on the invoice
form is enabled (remember, though, that the supplier setup does not have
'Matching Required'). However, in the cases where we cannot change the
payment method, the 'Match' button is grayed out.
What do the Payables gurus think of this?
I really would appreciate help.
Regards
Mike Bennet
Date: Tue, 03 Aug 1999 15:13:03 -0400
From: "Anna Barbieri" abarbieri@glenraven.com
Subject: Re: AP: Unable to change payment method for invoice
If you have any kind of a payment applied against the invoice these options
will
not be there unless you unapply the payment. We opened a tar with oracle
and
this was the work around we received.
Anna Barbieri