What is PeopleSoft accounts receivable?

In a nutshell, the AR module is responsible for the entry of items (outstanding invoices), handling customer payments, managing customer invoices, and creating customer correspondence such customer statements…

What is AP in PeopleSoft?

PeopleSoft Payables provides the integration and flexibility you need to optimize your accounts payable process. PeopleSoft Payables enables you to: Create vouchers and payments using manual and automatic processes. Create drafts, single voucher payment, prepayments, and self-billed invoices.

Is invoicing accounts payable or receivable?

Accounts payable is recorded when an invoice is approved for payment. Many companies use “segregation of duties,” i.e. making sure no single employee can approve a payment alone, to prevent embezzlement. For most businesses, accounts receivable involves the generation of an invoice, which is delivered to the customer.

How do you maintain accounts payable and receivable?

Tips for managing accounts payable and accounts receivable

Establish credit policies. One thing owners and managers don’t like about transactions is when they take a long time to close.
Shorten transaction cycles.
Foster more communication.
Stay on top of aging accounts.
Use automation to track everything.

What is billing in PeopleSoft?

The PeopleSoft Billing Module is used for generating customer invoices for the goods or services sold by an organization. You can create manual invoices or get data from various other modules to create customer invoices. One of the most important batch processes is ‘Single Action Invoice’.

What is a journal voucher in PeopleSoft?

Journal vouchers are used to adjust accounting entries for vouchers that have been posted and paid and for vouchers whose payments have also been posted. On the journal voucher, you reverse the amount to account 123000 and add the amount to account 456000, keeping PeopleSoft General Ledger and Payables in sync.

What is account receivable module?

The Accounts Receivable (AR) Module consists of programs to handle setup, invoices, transactions, service charges, period ending, and aging. The module is used to process customer invoices and payments. It provides the ability to receive deposits and on account cash (cash in advance), and later apply them to invoices.

What’s the difference between payables and receivables?

Accounts receivable and accounts payable are essentially opposites. Accounts payable is the money a company owes its vendors, while accounts receivable is the money that is owed to the company, typically by customers.

What is the difference between receivables and payables?

So, what is the difference between accounts receivable and accounts payable? Put simply, accounts payable and accounts receivable are two sides of the same coin. Whereas accounts payable represents money that your business owes to suppliers, accounts receivable represents money owed to your business by customers.

What is difference between accounts payable and receivable?

A company’s accounts payable (AP) ledger lists its short-term liabilities — obligations for items purchased from suppliers, for example, and money owed to creditors. Accounts receivable (AR) are funds the company expects to receive from customers and partners.

What is single action invoice in PeopleSoft?

PeopleSoft provides number of batch processes that can be used to automate the entire invoicing process. One of the most important batch processes is ‘Single Action Invoice’. Some of the common steps in PeopleSoft Billing module are: Receive Bill data from external source or manual bills. Validate and review bills.

What does PeopleSoft accounts payable v9.2 training do?

Developed for implementation team members and functional end users, PeopleSoft Accounts Payable v9.2 training quickly introduces students to the set-up considerations, configuration, and transactional processing components of the AP module.

When did PeopleSoft FSCM 9.2 payables come out?

How to add supplier information in PeopleSoft v9.2?

© 2014 SpearMC Consulting PeopleSoft v9.2 Accounts Payable Page 7 Chapter 1 – Enter Supplier Information Topic 1: Enter Identifying Information NAVIGATION: Home > Suppliers > Supplier Information > Add/Update > Supplier On the Supplier Informationpage, click on the Add a New Valuetab.

What is accounts payable 9.2 features training document?

This Accounts Payable 9.2 Features Training document is designed to help prepare you for the PSFIN Upgrade to version 9.2. The guide details those processes that have changed due to the upgrade. It does not cover every task and process in the module. This is a living document and will be updated as various business process decisions are made.