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Payments to Financing House In Oracle R12 - Printable Version

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Payments to Financing House In Oracle R12 - nisarwangde - 12-11-2016

Dear All, 

I have a case where I need to make payments to my supplier through a financing house. 
The financing house will make the actual transfer of payment to the supplier however I need to book them both in my ledger. 

The financing house is going to charge me an amount for this service payable monthly. 

Can someone help me in achieving this. 

The accounting entries should be as follows:

Invoice to Supplier1
Debit Expenses 1000
Credit Supplier1 1000

Upon Payment 
Debit  Supplier1 1000
Credit FinancingHouse 1000

Debit FinancingHouse 1000
Credit Bank 1000

Is this achievable in Oracle Payables R12?


RE: Payments to Financing House In Oracle R12 - nisarwangde - 12-12-2016

Ok. I did it.