In PeopleSoft parlance, a vendor invoice is known as a voucher . We'll use this term throughout the chapter. You may recall from our discussion of Billing and Accounts Receivable modules, that an organization sells to its customers, sends an invoice and then receives the payments at a later point of time. Similarly, when it purchases something from a vendor, it usually receives the invoice along with the goods. The invoice amount needs to be paid later depending on the purchase terms.
The following schematic shows the basic Accounts Payable process flow:
The Accounts Payable business process begins with the recording of a vendor invoice as a voucher. PeopleSoft offers manual as well as automated methods to create vouchers. For automated voucher creation, a group of staging tables is used. A batch process known as Voucher Build loads the data from these staging tables into AP to create vouchers. We can also upload voucher information from a pre-configured...
