What is Oracle Fusion Accounts Payable Training module Functions and Features

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What is Oracle Fusion Accounts Payable Training
module Functions and Features

• In any organization, the Finance department plays
  a crucial role. Oracle Fusion
• Accounts Payable and Oracle Fusion Accounts
  Receivable are two important modules. In simple
  words, Accounts payable are considered to be a
  liability, and Accounts
• Receivable is Assets. If the organization does
  not capture all transactions involved in
• AP (Accounts Payable) and AR (Accounts
  Receivable) in a proper format, we will not be
  able to achieve monthly and yearly tangible
  Goals. In small or medium companies, AP and AR
  activities are taken care of by the same team.
  When it comes to big companies, AP and AR teams
  work independently. In this article, I will be
  talking about the Accounts Payable section, what
  are the roles and responsibilities, how
  organizations perform
• Accounts Payable activities, etc. Most of the
  companies, the Accounts payable team is called
  an AP Team.
• Organization cannot perform their activities
  without purchasing services or goods from
  different sources. When it comes to the
  Manufacturing business, they must have to
  procure raw materials from different units and
  create finished goods. Accounts Payable is part
  of the Procure to Pay life cycle and it is the
  final step of the process.
• In general, business units have to pay for the
  below categories.
• Vendors where they need to buy Raw material
• Employees such as Human Resources, Operations,
  IT, Finance Department, Admin Team, etc
• Office space and inventory units rent
• Employees salaries and office rents are fixed
  and will be paid monthly, which is not a complex
  process. When it comes to employee travel
  expenses, employees need to submit the bills to
  the AP department. Based on the business rule,
  the AP team will be paid to the employees.
  Sometimes, the AP team will release advance
  payments for
• Cab, food, hotel tickets, etc. Large-scale
  companies maintain mobile applications where
  employees load all their onsite expenses and get
  the payment instantly.
• Vendor payments happen whenever the production
  unit planning to buy or received inventory items
  from different vendors. Some vendors accept
  monthly payments and
• others would accept whenever the goods are
  delivered to the inventory unit. Hence, the
  Oracle Fusion Accounts Payable Team and Oracle
  Fusion Inventory Team should work closely to
  overcome any payment-related issues. Before the
  Oracle Fusion AP team releases the payment to
  the vendors, they will receive the Invoice.
  Typically, invoices

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will have vendor name, Item name, Quantity,
Price, Item received to date, Location name,
Shipping charges, Discounts, etc. Once the AP
team receives the invoice, they will contact
with inventory team to check whether all the
invoiced items have been received or not. If any
item is missed to receive, the AP team will not
release the payment to the vendors. Many
organization follows the agreement with the
vendor on the difference between invoiced and
actual items received. Lets say the agreement
has a condition that invoiced items and actually
received items should not exceed 10. This is
called the matching option. Lets take an
example where the inventory unit has received 100
units and the invoice has 80 units. In this
scenario, the difference between invoiced units
and received units is more than 10. Hence, the
AP team will not release the payment to the
vendor. Many companies follow a 3-way match. They
will match the item's quantity in three
different areas as Purchase order, Received
Quantity, and Invoiced Quantity. If all these
areas have the same units, the AP team will make
the payment to the vendor. Otherwise, they would
contact the vendor and inventory team to know the
discrepancy. Another important term in an
Agreement is called Payment Term. This will let
the AP team knows when will the payment needs to
be released to the vendor. Based on the Payment
term, the vendor will provide additional
discounts. Lets say, the payment term is
stating 100 Payment one month 5 discount
and 100 Payment two months 2 discount.
It means that if we release the payment within a
month from the invoice generated, we will get a
5 discount. Mode of Payment This term lets us
know how we need to release the payment. Is it
through Cash, Check, or DD? Based on the
agreement terms and conditions, the AP team will
release the payment to the Vendor. The final step
for the AP team is to enter the payments to the
vendor in Ledger. This is the most important
step. Often, it requires approval from the senior
management team before the AP team enters the
data in Ledger. To maintain all these
transactions in a system, we must have an
application. Oracle has provided an application
called Oracle Fusion Financials. It has many
modules such as Fusion Accounts Payable (AP),
Fusion Accounts Receivable (AR), Oracle Fusion
General Ledger, Oracle Fusion Cash Management,
Oracle Fixed Assets, Tax, etc. AP, AR, GL, CM,
and FA are called financial core modules. Fusion
is an application name and it is available in
the Cloud. To access this Oracle Fusion
application Instance, we do not need to install
it on company-owned servers. With the help of the
internet, we can easily access it anywhere on
Mobile, Desktop, Laptop, or Tablet. Because of
this excellent feature, many companies would
like to use these Fusion Applications and
fulfill their financial objectives. Each quarter
oracle added new features or functionalities
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• based on the business requirements and updated
  the fusion application which was covered during
  Oracle Fusion Financials Training.
• Currently, we are using 23A (Q1 A, Q2 B, Q3
  C, Q4-D). Updating the new features activities
  will be taken care of by Oracle. Hence, business
  owners do not need to spend an additional amount
  or human effort. This is one of the great
  advantages for business owners.
• Frequently Asked Questions (FAQ)-
• During Oracle Fusion Financials Application
  training we cover the new features from the
  Oracle Fusion Payables module thus helping in
  clears the Oracle Fusion payables certification.
• Oracle fusion payable module interview questions
  are provided in a separate file and explained
  during the classes.
• Oracle fusion accounts payable training course
  each and every topic covered in the Fusion
  Financials Training. Oracle fusion accounts
  payable real-time implementation topics and
  scenarios are well explained with examples.
• We are one of the top best training institutes to
  teach Oracle fusion financials training from
  Hyderabad online training, classroom training,
  and corporate training on Oracle fusion
  financials from the top trainers.
• How can I contact Tech Leads IT institute?
• A. By using the below resources, we can easily
  contact the institute management team Website -
  https//www.techleadsit.com/
• Email info_at_techleadsit.com
• Phone number - 91 8125 32 32 32 (Whatsapp)
• Physical Location - 44/A, 302, Floor no 3,
  Geetanjali Apartments, Opp Bahar Cafe, Near SR
  Nagar Police Station SR Nagar, Hyderabad,
  Telangana, India.
• What is the course Name?
• A. Oracle Cloud Financials Online Training
• 3. Who is eligible to take Fusion Financials
  Online Training course?

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• A. Any individual who has completed Graduation or
  Post Graduation in Finance background such as
  B.Com, M.Com, MBA (Finance)
• Why should I choose Tech Leads IT for this
  course?
• A. Below are the advantages you receive from this
  training
• Experienced trainers who have 15 years of
  experience including implementation, support,
  testing
• Trainers have already completed 50 batches
• Daily recordings available in Tech Leads IT owned
  learning portal
• Whatsapp group where you can clarify all your
  practice queries
• Resume Preparation, mockup interviews, training
  materials
• Placement Support

• How many days this training is scheduled?
• A. 90 Days (Daily one hour)
• What if I missed attending the live class?
• A. Daily live session recordings will be placed
  in the learning portal which can be accessed on
  any device such as Laptop, Desktop, Mobile, and
  Tablet