GL - What id recurring invoices?What are AP setup steps?

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What id recurring invoices?What are AP setup steps?

Total Answers and Comments: 4

Last Update: October 31, 2007

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September 26, 2005 01:11:23

pavan

RE: What id recurring invoices?What are AP setup steps...

some times suppliers would not be sending any invoices.but still the payment have to made to him.ex: rent lease rentels. in this situvation we have to create invoice every period wise.for that purpose we have to create one recurring invoice template. template means with one master copy creating the multiple invoices is called template.here we are creating the one invoice master copy is formally known as arecurring invoice or recurring inavoice tempalate. SET UP: 1)we have to create one special calender 2)we have to create one full distribution set 3)we have to enter payment terms in the recurring invoice window 4)enter the template no first invoice amount special invoice amounts

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November 20, 2006 23:51:14

durgesh3

Member Since: November 2006 Contribution: 2

RE: What id recurring invoices?What are AP setup steps...

Recurring Entries are of 3 types

1. Standard 2. Skeleton 3.Fornulae Based

In GL Moduel

1.Define Formula Batch (Eg: ABC Rent batch)

2.Enter Lines ( Here u have both Debit as well as Credit lines)

3.Generate Recurring period

4.Review Journal Batch

5.Post the batch

1. Standard Recurring Journal : It is used fo same accounts & same amounts

Eg : Utilities Dr

Cash Cr

2. Skeleton Recurring Journal: It is used for same accounts but for different amounts

Eg: Recurring Fee Dr

Cash Cr

3.Formule Based Journal : It is used for different accounts with different amonts

Eg: Salaries Dr

Cash Cr

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April 16, 2007 05:14:04

geetha

RE: What id recurring invoices?What are AP setup steps...

hai
i followed all the set given but still i am not able to generate actually when i go the recurring invoice window and enter all the parameters their i am getting an error -APP-FND-01728:An assignment does not exist for these parameters.

please help me out

with regards
geetha

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October 31, 2007 11:43:47

Bonthu Nagi Reddy

RE: What id recurring invoices?What are AP setup steps...

Recurring invoices are the invoices which we use repeatedely.

Some Invoice we have to generate frequently or periodically in that case we can use recurring invoices which would be helpful to pay rent on first of month or Utility Bills 10th on Every month !!

AP Required Setups in 11i :-

No.
Setup Task Name Required?
1 Install or Upgrade Payables. Yes
2 Create User Sign-ons. Yes
3 Define Chart of Accounts. Yes
4 Define Period Types and Accounting Calendar. Yes
5 Enable Currencies. Optional
6 Define Set of Books. Yes
7 Assign Set of Books to a Responsibility. Yes
8 Enter Conversion Rate Types and Rates. Optional.
9 Select Primary Set of Books. Yes
10 Define Payment terms. Yes
11 Define Purchase Order Matching Tolerances. Optional.
12 Define Tax Authority Type Suppliers. Conditionally.
13 Define Tax Name and Tax With holding Groups. Optional
14 Define Invoice Approval Codes. Yes
15 Define Distribution Sets. Optional
16 Define Payables Lookups. Yes
17 Define Payment Interest Rates. Optional
18 Create Templates for Entering Expense Reports. Optional
19 Enter Employee Lookups. Optional
20 Enter Locations. Yes
21 Enter Employees. Conditionally.
22 Define Reporting Entities. Conditionally Required.
23 Define 1099 Income Tax Regions. Conditionally Required.
24 Define Inventory Organizations. Conditionally Required.
25 Define Financials Options. Yes.
26 Define Payables Options. Yes.
27 Define Payment Programs. Yes.
28 Define Payment Formats. Optional.
29 Update Country and Territory Information. Optional.
30 Define Bank Accounts. Yes.
31 Define Suppliers. Yes.
32 Assign Reporting Set of Books. Optional
33 Open Accounting Period. Yes.
34 Define Request Sets. Optional
35 Define Reporting formats. Optional
36 Set Up Printer Styles and Drivers. Yes.
37 Define Special Calendars. Optional
38 Implement Budgetary Control. Optional
39 Implement Sequential Numbering. Optional
40 Define Descriptive Flex fields. Optional
41 Define Tax Recovery Rules. Optional
42 Define Withholding Tax Certificates and Exceptions. Optional
43 Set Up Credit Card Program. Optional
44 Set Profile Options. Optional

With Rgds
Nagi Reddy.Bonthu

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