Book Image

Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation

By : Ranjeet Yadav
Book Image

Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation

By: Ranjeet Yadav

Overview of this book

PeopleSoft financial management applications have been recognized as a leading ERP product across a wide range of industries that helps organizations automate their accounting operations, cut costs, and streamline business processes. They offer industry leading solutions for organizations' global needs, however complex they may be. PeopleSoft Enterprise Financial Management 9.1 Implementation is probably the only learning resource for a novice practitioner, who may otherwise have to rely on thousands of pages of documentation for such a complex ERP system. This book covers all the crucial elements of PeopleSoft Financials—a business processes, configuration, and implementation guide. This is the ideal one-stop resource before entering the world of PeopleSoft implementation. Beginning with the fundamentals of a generic financial ERP system, this book moves on to basic PeopleSoft concepts and then dives into discussing the individual modules in detail. You will see how to leverage financial modules such as Billing, Accounts Receivable, Accounts Payable, Asset Management, Expenses, and General Ledger. Dedicated chapters discuss key PeopleSoft features such as application security and commitment control for budgeting. You will learn fundamental ERP concepts such as the chart of accounts, used by organizations for recording and reporting financial transactions, and how to implement them in PeopleSoft through chartfields, business units, and SetIDs.
Table of Contents (16 chapters)
Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

Receiving customer payments


As part of its normal business operations, an organization regularly receives payments from its customers. PeopleSoft AR offers multiple methods to receive payments. Payment methods can be broadly categorized into manual and electronic (automated). We'll discuss these in the following sections.

Entering payments manually

Just as we saw that a pending item must be a part of item group, customer payments also need to be a part of payment group, known as Deposit. A deposit can contain multiple payments or a single payment. In PeopleSoft parlance, we can enter two types of deposits manually: Regular deposits and Express deposits. Which type of deposit is used depends on the amount of information we have for the received payment.

A payment, when received, should ideally have the customer ID (who paid this amount) and the item ID (to which this payment needs to be applied). However, in many cases, this is not true. When organizations receive the payments, some of them...