Invoice Processing by Accounts Payable Generally, vendors send invoices directly to Accounts Payable (AP). Once an invoice has been submitted, AP takes the following actions:

Matches the invoice with an open, posted purchase order (PO). Quantity, price and part number are used as matching criteria.Reviews supporting documentation. If applicable, AP reviews supporting documentation to verify that the order complies with University guidelines.Place invoices that cannot be paid on "I" (incomplete) status. If an invoice cannot be authorized for payment due to discrepancies, mismatches, incomplete documentation, etc., it is placed on "I" status.

The AP representative sends a queue message to the departmental preparer to notify them of the problem and to request assistance in resolving the hold. The departmental preparer can view and reply to the queue message in BruinBuy.Invoices remain on �I� status, until the preparer or department notifies the AP representative that the issues have been resolved.The AP representative will process the invoice for payment after receiving instructions from the preparer or department that all issues have been resolved.If a vendor contacts AP regarding an invoice on �I� status, the vendor is instructed to contact the preparer or department to resolve the issue.

The Service Standard provides further information on invoice processing time frames and procedures for submitting invoices (see Related Information).

Accounts Payable Journal Entry Audit ReportUse the Accounts Payable Journal Entry Audit Report to review invoices and payments that you transferred to your general ledger. When you submit the Payables Transfer to General Ledger Program, Payables also provides an Accounts Payable Journal Entry Exception Report, which lists any exception items that Payables did not transfer and provides a detail explanation of the exception.For each posted invoice or payment distribution, Payables lists the accounts (expense, liability, or asset) affected by the transaction and the amount of the transaction in the entered currency. Payables also lists the transaction amount in your functional currency. If you use Oracle Cash Management to reconcile your payments, Payables also lists this information for each posted reconciliation distribution.

Payables divides the report into three sections:

Posted InvoicesPosted PaymentsPosted Reconciliation Distributions (generated only if you have enabled integration with Oracle Cash Management)The Posted Invoices section is ordered by currency, supplier, invoice, and invoice account and includes a subtotal for each currency and a cumulative total for the section. The Posted Payments and Posted Payment Reconciliations sections are both ordered by bank account, payment document, supplier, document number, and payment account and includes a subtotal for each bank account and a grand total for the section.

Report Submission Payables automatically prints the Accounts Payable Journal Entry Audit report when you submit the Payables Transfer to General Ledger program. See: Payables Transfer to General Ledger Program (Posting)

Selected Report HeadingsInvoice/Document Num. Payables prints the invoice/payment number for the invoices/payments transferred to your general ledger.GL/Pay Date. Payables prints the GL/Pay Date for the invoices/payments transferred to your general ledger. The GL Date for an invoice or payment determines the accounting period in which the transaction affects your general ledger account. Payables determines the period by comparing the GL Date to the ranges of dates you have defined for your accounting periods.

Payables uses the payment date of a payment as its GL Date.

Accounting Flex. Payables prints the accounts affected by the invoices/payments transferred to your general ledger.

For each transferred invoice distribution, Payables prints the expense and liability accounts charged.

For each transferred payment, Payables prints the liability and cash (asset) accounts charged.

Entered Debit. For an invoice distribution, Payables prints the debit amount, in the invoice currency, that is charged to the expense account.

For a payment, Payables prints the debit amount, in the payment currency, that is charged to the liability account.

Entered Credit. For an invoice distribution, Payables prints the credit amount, in the invoice currency, that is charged to the liability account.

For a payment, Payables prints the credit amount, in the payment currency, that is charged to the cash (asset) account.

Accounted Debit. For an invoice distribution, Payables prints the debit amount, in your functional currency, that is charged to the expense account.

For a payment, Payables prints the debit amount, in your functional currency, that is charged to the liability account for the payment.

This amount represents the actual amount used to update your account balances when you post the journal entries in your general ledger.

Accounted Credit. For an invoice distribution, Payables prints the credit amount, in your functional currency, that is charged to the liability account.

For a payment, Payables prints the credit amount, in your functional currency, that is charged to the cash (asset) account.

This amount represents the actual amount used to update your account balances when you post the journal entries in your general ledger.

2-way matching verifies that purchase order and invoice information match within your tolerances as follows:

Quantity billed is less than or equal to Quantity ordered Invoice price is less than or equal to Purchase order price 3-way matching adds a third criterion to verify that receipt and invoice information match with the quantity tolerances you define:

Quantity billed is less than or equal to Quantity received4-way matching adds a fourth criterion to verify that acceptance documents and invoice information match within the quantity tolerances you define:

Quantity billed is less than or equal to Quantity acceptedWhen you match to a purchase order, Payables automatically performs 2-way matching. In the Purchasing Options window you can choose to additionally use 3-way or 4-way matching. You can change the invoice match option at the supplier, supplier site and purchase order shipment levels.If the invoice and purchase order do not match within the tolerances you define for quantity and price, Approval places a matching hold on the invoice. You must release the hold before you can pay the invoice.