28 Sep 2014 When Payables accounts for future dated payments, it uses the Future Dated Payment Account from either the supplier site or the payment� A future dated payment instructs your bank to disburse funds to your supplier's bank on a specific date (the maturity date). Payables accounts for future dated payments differently than for other methods of payment. For future dated payments, Payables creates journal entries in two stages, the first to recognize the payment (reduction of liability), and the second to recognize the clearing of the payment (reduction of cash). Payables uses two kinds of future dated payments. To create a future dated payment using a payment batch or a quick payment: 1. To pay the invoice in a payment batch or as a Quick payment in the Payment Batches window or the Payments window, choose a future dated payment document, and enter a Maturity Date. Payables will then automatically create the future dated payment. 2. Enter the Cash Clearing Account you want to use. See: Defining and Maintaining Payables Payment Documents. 5. Optionally assign to suppliers that regularly use future dated payments a default payment method of Future Dated or Manual Future Dated. The payment method you specify will default to the Payment Method field when you enter invoices for the supplier. You can override this payment method default during invoice entry. See: Payment Region of the Suppliers and Supplier Sites windows When your bank disburses the funds from your account to your supplier's account on the maturity date, your bank clears the payment. You receive periodic bank reconciliation information which you can then use to reconcile the payments using Oracle Cash Management. You can alternatively use the Automatic Clearing for Future Dated Payments Utility to clear future dated payments. Oracle Payables - Version 12.1.3 and later: R12:How To Pay Future Dated Payments (Bills Payable) R12:How To Pay Future Dated Payments (Bills Payable) Last updated on DECEMBER 04, 2019 Payables credits the Cash Clearing Account assigned to the payment document you used to make the payment. If you pay from a non-pooled bank account, after you clear a future dated payment and you post the payment, Payables creates accounting entries that debit the Cash Clearing Account and credit the Cash Account of the bank account.
When you submit this utility, Payables clears all future dated or manual future dated payments that meet the parameters you specify, and that have a maturity date less than the Clear Date you enter as a parameter plus the number of clearing days you specified for the payment document in the Banks window. Enable this option if you want to use the Future Dated and Manual Future Dated Payment methods in Payables. If you use the Future Payment Method, you can create a payment document with a future date (maturity date). The payment document instructs your bank to disburse funds to your supplier's bank on the maturity date.
When you submit this utility, Payables clears all future dated or manual future dated payments that meet the parameters you specify, and that have a maturity date less than the Clear Date you enter as a parameter plus the number of clearing days you specified for the payment document in the Banks window. Enable this option if you want to use the Future Dated and Manual Future Dated Payment methods in Payables. If you use the Future Payment Method, you can create a payment document with a future date (maturity date). The payment document instructs your bank to disburse funds to your supplier's bank on the maturity date.
Using Future Dated Payments. Payment Batch or Quick Payments. Prerequisites. Your supplier sends you an invoice. Enter the invoice in the Invoices window,� Setting up Payables for future dated payments: 1. In the Payables Options window, enable the Allow Future Payment Method Payables option. See: Accounting�
Oracle Payables - Version 12.1.3 and later: R12:How To Pay Future Dated Payments (Bills Payable) R12:How To Pay Future Dated Payments (Bills Payable) Last updated on DECEMBER 04, 2019 Payables credits the Cash Clearing Account assigned to the payment document you used to make the payment. If you pay from a non-pooled bank account, after you clear a future dated payment and you post the payment, Payables creates accounting entries that debit the Cash Clearing Account and credit the Cash Account of the bank account.