Oracle Cloud Payables Petty Cash & Prepayment Business Process

Hi everyone in this video i will talk about how to cover petty cash cycle through oracle payables
what's the setup required
i will show you with example 3 business cases to cover all scenarios of petty cash
how to define supplier how to categorize suppliers of petty cash, how to assign a specific liability account for petty cash suppliers
also i will talk a bout the prepayments invoices types in oracle cloud
how to apply and unapply prepayments in fusion
how to change the permanent prepayment to be temporary prepayment
how to make a specific field required in any page using sandbox
You can use a petty cash fund to reimburse employees for small, infrequent expenses.
A petty cash fund may save you administrative costs of processing and paying expense reports.
You can use Payables to pay out to the petty cash fund and to record the expenses paid by the fund.
A prepayment is a payment you make to suppliers in anticipation of their provision of goods or services.
You must fully pay a prepayment before you can apply it.
On the Manage Invoice Options page, you can set prepayment options, such as whether to show available prepayments during invoice entry.
You can enter either a Temporary or a Permanent type prepayment.
Temporary prepayments can be applied to invoices or expense reports you receive.
For example, you use a Temporary prepayment to pay a hotel a catering deposit.
Permanent prepayments cannot be applied to invoices.
For example,
you use a Permanent prepayment to pay a lease deposit for which you do not expect to be invoiced
Prepayments
A prepayment is a payment you make to suppliers in anticipation of their provision of goods or services. In Oracle Fusion Payables, a prepayment is a type of invoice that you can apply to an outstanding invoice to reduce the invoice amount.
You must fully pay a prepayment before you can apply it.
On the Manage Invoice Options page, you can set prepayment options, such as whether to show available prepayments during invoice entry.
Creating a Prepayment
To create a prepayment, specify an invoice type of Prepayment.
The Allow prepayment application option indicates that the prepayment is available for application and classifies the prepayment as temporary. An example of a temporary prepayment is a catering deposit to a hotel. When the invoice from the hotel arrives, you can apply the prepayment to the invoice to reduce the invoice amount due.
If you disable the Allow prepayment application option, you can't apply the prepayment and the prepayment is classified as permanent. An example of a permanent prepayment is a lease deposit for which you don't expect to receive an invoice.
Applying a Prepayment
When you apply a prepayment, the invoice is updated to reflect the amount paid and the prepayment amount available for application is reduced. A prepayment application line with corresponding distributions is added to the invoice.
Applied prepayments can be either inclusive or exclusive. A supplier might send you an invoice that references a prepayment. If the supplier reduces the invoice amount by the prepayment and associated tax, the prepayment is inclusive. You can designate a prepayment as inclusive by selecting the Included on Invoice option when applying the prepayment. When you apply an exclusive prepayment to an invoice, the unpaid invoice amount is reduced by the amount of the prepayment application.
If a prepayment is matched to a purchase order, purchase order quantities are updated during prepayment application.
You can also pay a prepayment in a currency that's different from the invoice currency. If you choose to do so, you must ensure that both the invoice and the prepayment have the same invoice currency. For example, consider the following payables documents.
Invoice: Invoice currency is USD, payment currency is CAD
Prepayment: Invoice currency is USD, payment currency is RUB
You can apply the prepayment to this invoice because both payables documents have an invoice currency of USD.
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[@user-zv8wp4th4f]

Good job my friend . Always the best 👏

[@A_Step_by_Step2023]

Thanks Mohammed 🙏

[@ahmedfawzy149]

I didn't continue the video, and will continue later
But what I'm sure about
That you will be brilliant as usual Mohamed 👌👏👍

[@A_Step_by_Step2023]

Thanks Ahmed
All the best for you 🙏