The data synchronized between Oracle ERP and an AP automation solution typically includes:
Vendor Information: Basic details such as vendor names, addresses, tax identification numbers, and payment terms that are used to process payments and manage vendor relationships.
Invoice Data: Detailed data from invoices, including invoice numbers, dates, line item descriptions, quantities, unit prices, total amount due, tax amounts, etc.
Purchase Orders (POs): Information related to issued POs, including PO numbers, descriptions, quantities, pricing, and related vendor details.
Receiving Reports: Data on goods received or services rendered, which is necessary to perform three-way matching between POs, invoices, and received reports.
Payment Information: Details on payments processed, including payment dates, amounts, check numbers or electronic payment references, and remittance information.
General Ledger (GL) Data: Coding information that is used to allocate costs to the appropriate GL accounts, departments, cost centers, or projects.
Approval Workflows: Status updates on invoice approvals, rejections, or any holds, including details on approvers, approval dates, and any comments or reasons for invoice exceptions.
Tax Information: Details of applicable taxes for each invoice to ensure correct tax processing and reporting.
Audit Trails: Information on the processing history of each transaction for auditing and compliance purposes.
Currency Information: For organizations dealing with international suppliers, currency exchange rates, and amounts in both local and foreign currency may be synchronized.
Attachments and Supporting Documents: Images of invoices, purchase orders, contracts, and other supporting documentation.