⟩ Explain what are main business process of accounts payable?
Payables Business process overview:
Create Vouchers and payments process using manual and automatic processes.
Country specific tax withholding matching the vouchers with the purchase orders and receipts
Post the vouchers
Maintain vouchers throughout their life cycle.
Create drafts, single voucher payment, prepayments, and self-billed invoices.
Optionally, send electronic payments to PeopleSoft Financial Gateway.
Analyze accounts payable information using online inquiries, and by generating reports.
Archive accounts payable data.
