What is the Entry in Oracle Apps AP,AR,GL for following
Transations
1.One Pipe purchase at Rs.100
2.One Pipe Sales At Rs.150
Which account Afected ,What is the journal entry
What is the entry at respective module
how many modules are afected through above transation
Answer Posted / moses
Tha basic rule is "What comes in is debit" and "what goes out is Credit"
While receiving the Material
----------------------------------------
Receiving Inventory a/c 100 dr
To Ap accrual a/c 100 cr
While stocking the Material in the inventory
---------------------------------------------------------------
Material a/c 100 dr
To Receiving Inventory a/c 100 cr
(Here the receiving inventory would be knocked off. the net entry would be
Material a/c 100 dr
to Ap accrual a/c 100 cr . Than means Material comes in and the payments has to be done)
While recording the invoice
-------------------------------------------
Charge a/c 100 dr
To Liability a/c 100 cr
During the payment of the invoice
-------------------------------------------
Liability a/c 100 dr
To Cash clearing a/c 100 cr
Cash clearing a/c 100 dr
To Cash a/c 100 cr
------------------------------------------------------------------------------------------------------------------
while making receivable invoice
Receivable a/c 100 dr
To Revenue a/c 100 cr
Is This Answer Correct ? | 6 Yes | 2 No |
Post New Answer View All Answers
How do write a discoverer report to identify zero dollar suppliers/invoices where the supplier is on hold?
Difference between header level tax calculation and line level tax calculation
What do you mean by controlling buyers workload?
can any one tell me what exactly functional consultant do on daily basis? client requirements?
Give examples & explain the below mentioned activity. "Analyzing the documents provided by the client and thereby identifying the test cases to be tested for the application assigned (FA, AP and GL)"
How do u bridge the gaps in functional understanding of AP,GL,FA. explain with some live examples.
how we can stop the transaction for not transfer to the reporting ledger at the time of entering the transaction in pl
What is the use of operating unit, while configure multiorg?
We are running Oracle EBS 11i and yesterday whilst doing my month-end I forgot to select "calculate finance charge" on form ARXSUPST AR Print Statement run. I am struggling to get to My Oracle and was hoping someone out there might have experienced or heard of a similar problem. What are my options to rectify this situation... I look forward to you inputs..... Thank you Regards Salie
difference between primary ledger and secondary ledger in r12
What are register in India localisation?
how to do customization while doing oracle implementation. what is the role of functional consultant in customization?
Hi I'm new in ERP - Oracle Application i appriciate if any one help me in this issue i need SQL to get badeget balance Acutal Balance Encumbrance Balance fund Avalable thanx ahmed
How to support projects life cycles details?
Payables Applications Technical Reference Manual