An Invoice is an itemized list of goods shipped or service rendered, with an account of all costs.
Oracle payables lets us to capture all the attributes of the real life invoice documents we receive from our suppliers. When we enter invoice in Payables , the invoice information is divided between the Invoice header and the Invoice Lines.
Invoice structures:
- Invoice Header: The invoice header defines the common information about the invoice: invoice number and date, supplier information, remittance information, and payment terms. Information specified at the invoice header level defaults down to the line level. We can override the header level information for individual lines, as required.
- Invoice Lines : The invoice lines define the details of the goods and services as well as the tax, freight, and miscellaneous charges invoiced by the supplier. There can be multiple invoice lines for each invoice header. The Lines tab of the Invoice Workbench captures all of the details for the invoice line necessary for accounting, as well as for cross-product integration with other Oracle E-Business Suite applications, such as Assets, Grants Accounting, Inventory, Projects, Purchasing, Property Manager, and Receivables.
- Item Lines: Item lines capture the details of the goods and services billed on your invoice.
- Freight and Miscellaneous Lines: Freight lines capture the details of your freight charges. Freight charges can be allocated to Item lines as required.
Miscellaneous lines capture the details of other charges on your invoices such as installation or service. Like Freight lines, Miscellaneous lines can be allocated to Item lines.
- Tax lines : Payables integrates with Oracle E-Business Tax to automatically determine and calculate the applicable tax lines for your invoices. E-Business Tax uses your tax setup, plus fields on the invoice header and lines, known as tax drivers, to determine which taxes should be applied to the invoice, to calculate the tax using the appropriate tax rates, and to determine whether or not the tax is recoverable or non-recoverable. E-Business tax creates the necessary tax lines and distributions for the invoice and allocates tax. If your tax setup permits, you can update the tax lines or manually enter tax lines
- Invoice Types
- Standard
- Credit Memo
- Debit Memo
- Mixed
- Prepayment
- Expense Report
- Withholding Tax
- Retainage Release
- Distribution : Distribution details include invoice accounting details, the GL date, charge accounts, and project information. An invoice line can have one or more invoice distributions.
Reference:
https://docs.oracle.com/cd/E18727_01/doc.121/e12797/T295436T366808.htm