Invoice Number: Vendors typically assign a unique number to each invoice they produce. Oracle requires an invoice number for each invoice processed. When an invoice is paid, the number entered into the Invoice Number field is listed on the remittance advice that is attached to the check. The vendor will use this number to apply the payment. To prevent misapplication of payments the invoice number assigned by the vendor should always be used as the invoice number in Oracle. If an invoice does not reference an invoice number, departments should use the account number shown on the invoice or if it is also not available should use some value that will allow the vendor to appropriately apply the payment without further information.
Invoice Date: The invoice date is typically printed on the invoice by the vendor and indicates the date they issued the invoice. The invoice date is used by Oracle to calculate the appropriate scheduled payment date based on the invoice terms and controls the date payment will be made.
Invoice Total: The total of all charges for items billed on an invoice plus any freight, packing or special charges.
Invoice Terms: The length of time the vendor will allow payment to be made without considering the invoice to be past due. The most common term is N30 which indicates that the invoice should be paid and the payment received by the vendor no later than 30 days from the invoice date. It is important that all invoices be paid within their terms to protect the university's credit rating.
Invoice Distributions: Each invoice can be paid from multiple departmental accounts. Each distribution line is for one account or one charge to an account. Purchase order invoices can have multiple distributions per purchase order line. The total of all distributions must match the Invoice Total for Oracle to process the invoice for payment.
Scheduled Payment Date: This is the date that Oracle calculates payment should be made based on invoice date and vendor terms. Payment may not be made on the Scheduled Payment Date if there are one or more holds on the invoice or on the vendor or the vendor has a Credit Balance.
Lawson: Credits are fed to Oracle upon completion of the Lawson entry. The credits are segregated to Lawson checks if there are sufficient invoices for that vendor in the same feed. If there are not sufficient invoices for that vendor, the credit and any invoices for that vendor in that feed may be combined with non-Lawson payments.
Pay Group: Oracle: A grouping of invoices for a vendor that have a similar source and/or payment criterion. Sources include: Payment Request, Lawson, etc.
Positive or Negative Approval
Negotiable - The check has been issued but has not yet cleared the bank. Accounting entries are posted in the general ledger module.
Stop Initiated - A request has been placed with the bank to not cash the check. The University is not in physical possession of the check. There are no accounting entries made with a stop payment.
Voided - The bank has either confirmed a stop payment as being placed or the university is in physical possession of the check. The void process creates reversing entries of the cash payment. The invoices paid on the check can be re-processed for payment.
Reconciled Unaccounted - The check has cleared the bank.