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Peoplesoft Process Flow

The document summarizes the accounts payable process in PeopleSoft. Suppliers provide invoices for goods and services. These invoices are recorded in PeopleSoft which uses them to create vouchers. Vouchers are posted to record supplier liabilities, and payments are created and posted to reduce the liability amount and record the payment in the accounting books. The process ensures supplier invoices are paid and liabilities are accurately tracked.

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Viju Raju
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664 views79 pages

Peoplesoft Process Flow

The document summarizes the accounts payable process in PeopleSoft. Suppliers provide invoices for goods and services. These invoices are recorded in PeopleSoft which uses them to create vouchers. Vouchers are posted to record supplier liabilities, and payments are created and posted to reduce the liability amount and record the payment in the accounting books. The process ensures supplier invoices are paid and liabilities are accurately tracked.

Uploaded by

Viju Raju
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Accounts Payable Flow

Accounts payables module is used to effeciently make the payments to the Suppliers
So Suppliers are people or company who sells goods or services. These are the people whom we owe the money.
The Suppliers provide us the bill or invoice.
invoice contains crusial information to process a payment for eg, what is the amount we owe, the due date, supplier contact in
The company will get 100s of these invoices on a daily basis
Peoplesoft accounts payable module can select these payments and pay them in part or full
The first step is to create a supplier to whom we owe money
A supplier can be created in peoplesoft through the supplier module
The supplier will send us the invoice for the goods or service they provide.
The next step is to record these invoice into the peoplesoft system.
We will use the supplier invoice to create a voucher in the regular entry page in Accounts payable module with the invoice num
The payments tab will contain the banking information from which the amount will be deducted to pay our invoice
The External bank account in Banking module will have the details of the physical bank account numbers and the Chartfield ac
When we do a banking transaction with peoplesoft payables, we actually record the transaction against the Chartfield account
And later we will reconcile the real bank account balance with the virtual chartfield account balance to make sure they tally
Because peoplesoft doesn't have any control over the real bank account
Peoplesoft keeps track of the liability balance through accounting entry and decreaces the libility amount once we pay the mo
The next step is to post the vouchers which is recording the supplier liability in to accounting books
This is used to create accounting entries to say that we owe this amount to this supplier
The Liability account information will be available in the Voucher attributes page in the accounting instructions
Once we run the voucher posting process the post status will be changed to posted
PS_VCHR_ACCTG_LINE
We will have 2 entries in the accounting line table, 1 corresponds to the actual voucher we created and the second entry also
And the next step is to create Payments for the invoice
The first step in the Payments processing is to run the selection criteria
This is the place where we can select all the pending invoices in bulk to create payments
So here we will enter the payment date, accounting date, BU details and Bank informations
Once the details are updated we will be running the Payment selection from the Pay cycle manager page to pick the invoice fo
Once the payment selection is done we will be running the payment creations process
We have the trial register hyperlink to check whether the payment is created for the voucher
The final step is crearing the supplier liability from the accounting books
In order to do that we will be running the Payment posting process
Once the process is completed there will be an entry against the liability account with the paid amount confirming we no long
e owe the money.

he due date, supplier contact information and the services they offered us

e module with the invoice number, supplier id, invoice date, and account number etc
to pay our invoice
numbers and the Chartfield accounts associated with the bank account
against the Chartfield account number and not the real bank account number
nce to make sure they tally

y amount once we pay the money using company's bank account

ng instructions

ed and the second entry also known as the offset entry is automatically created by the system to track the total liability

ger page to pick the invoice for payment creation

mount confirming we no longer have any liabilty against the supplier


General Ledger Flow

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