Setting-up Oracle Payables 11i is a relatively easy process. Previously, the entire process was a bit cumbersome, however, with the new Oracle Payables, the setup process is a piece of cake. I will take you through the set-up process of Oracle Payables in a step by step manner. I would today be discussing the process at a broad level to give all of you a brief overview.

First things first, Oracle Payables is setup at the operating unit level. This means that in case of multi organizations, each organization can have its own payables environment. Below I have listed down the steps involved in setting up Oracle Payables.

1. The number one thing in setting up Payables is defining the Lookup Codes

2. Second, you will have to select the Set of Books that you wish to use.

3. Third is defining the Profile values

4. Fourth you define the Payment terms which define how payments will be accepted into the bank accounts.

5. Next you have to define the Financial Options

6. Expense Report formats have to be defined to get the reports in the format you desire.

7. Bank Accounts have to be defined and linked to payment groups

8. Define Payables Options

9. Defining the Reporting entities comes next where you define Tax entities etc.

10. Lastly, you Open the Period so as to start the payables processing.