P

Pay Group
A feature you use to select invoices for payment in a payment batch. You can define a Pay Group and assign it to one or more suppliers. You can override the supplier’s Pay Group on individual invoices. For example, you can create an Employee Pay Group to pay your employee expenses separately from other ivoices.

Payment document
A medium you use to instruct your bank to disburse funds from your bank account to the bank account or site location of a supplier. With Oracle Payables you can make payments using several types of payment documents. You can send your supplier a check that you manually create or computer-generate. You can instruct your bank to transfer funds to the bank account of a supplier. For each payment document, you can generate a separate remittance advice. Payables updates your invoice scheduled payment the same way regardless of which payment document you use to pay an invoice. Payables also allows you to instruct your bank to pay in a currency different from your functional currency, if you enable the multiple currency system option and define a multi-currency payment format.

Payment method
In Oracle Payables, a feature that allows you to make invoice payments using a variety of methods. You can disburse funds using checks, electronic funds transfers, and wire transfers. Oracle Payables updates your payment schedules the same way regardless of which payment method you use. You can assign a payment method to suppliers, supplier sites, invoice payment schedule lines, and payment formats. You can then assign one or more payment formats to a bank account. You can have multiple payment formats for each payment method.

Payment schedules
The due date and discount date for payment of an invoice. For example, the payment term ’2% 10, Net 30’ lets a customer take a two percent discount if payment is received within 10 days with the full invoice amount due within 30 days of the invoice date.

Payment terms
The due date and discount date for payment of a transaction. For example, the payment term ’2% 10, Net 30’ lets a customer take a two percent discount if payment is received within 10 days; after 10 days, the entire balance is due within 30 days of the invoice
date with no applicable discount.

PO Default
Enter PO Default as the invoice type if you know the purchase order you want to match to, but you do not know to which purchase order shipments or distributions you want to match. When you enter a PO Default invoice in the Invoice Workbench, Payables prompts you to enter the purchase order number and then automatically copies the supplier name, supplier number, currency, and payment terms from that purchase order to the invoice. When you choose the Match button, Payables retrieves all purchase order shipments or receipt lines associated with the specified purchase order. You can then match to any shipment, distribution, or receipt line.

Profile option
A set of options that control access to certain features throughout Oracle Applications and determines how data is processed. Generally, profile options can be set at the Site, Application, Responsibility, and User levels.

Proxima payment terms
A payment term you define for invoices due on the same day each period, such as your credit card or telephone bills. When you define a proxima payment term, you specify a cutoff day and the day of month due. This type of payment term is also used with consolidated billing invoices.

Purchase requisition
An internal request for goods or services. A requisition can originate from an employee or from another process, such as inventory or manufacturing. Each requisition can include many lines, generally with a distinct item on each requisition line. Each requisition line includes at least a description of the item, the unit of measure, the quantity needed, the price per item, and the Accounting Flexfield you are charging for the item. Also known as internal requisition.