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

Understanding matching


As we discussed briefly previously, voucher matching is a critical feature for any Payables system. It serves as an important business process control for organizations to ensure that they pay only for those goods and services that they ordered and actually received. PeopleSoft offers the following matching methods:

  • Two-way matching: Vouchers are compared against purchase orders (created in Purchasing module) to ensure that we pay for what we ordered.

  • Three-way matching: Vouchers are compared against purchase orders and goods receipts (created in Purchasing module) to ensure that we pay for what we ordered and actually received. This is used when we order something and make it mandatory to create goods receipts.

  • Four-way matching: This method is used where receiving as well inspecting the received goods is mandatory. Vouchers are compared against purchase orders, goods receipts and goods inspections (created in Purchasing module) to ensure that we pay only for...