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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
- 8 Answers
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Answer / psvnaidu
1)Whenever we buy item there is no journal Entry.
2)When we Receive Material into inventory Org
Material Value A/C ---- Dr
Inventory AP Accrual A/C --- Cr
3)When we are going for payment
Charge A/c --- Dr
Liability A/c --- Cr
Liability A/c --- Dr
Cash Clearing A/c --- Cr
4)In Cash Management
Cash Clearing A/c --- Dr
Cash A/c --- Cr
5)When we Making Sale
Cost of Goods A/c --- Dr
Material A/c --- Cr
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / 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 |
Answer / anuj
While recording the invoice
-------------------------------------------
Ap Accural a/c 100 dr
To Liability a/c 100 cr
rest like mosses
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / kan
Is it possible when you sale 1 pipe at Rs.150 and you book
Revenue a/c @ Rs.100.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / khan
In order mgmt :
Cost of Goods A/c --- Dr 100
Material A/c --- Cr 100
In AR :
Receivable a/c 100 dr
To Revenue a/c 100 cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohammed akramuddin
Furniture account dr 100
cash account cr 100
cash account dr 150
sales cr 150
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / hussain
One pipe purchase:
The Accounting depends on the receipt routing
Lets assume receipt routing is Inspection:
Material Inspection A/C 100
To Inventory AP Accrual A/C 100
Receiving Inventory A/C 100
To Material Inspection A/C 100
Material(Pipes) A/C 100
To Receiving Inventory A/C 100
One Pipe sales:
COG's(Pipes) A/C 100
To Material(Pipes)A/C 100
| Is This Answer Correct ? | 3 Yes | 6 No |
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