Answer / tgs100

COGS account is debited and Inventory account is credited during shipping. The amount is taken as qty*item cost from inventory item (not sale order price).
When invoice is created in AR, Receivable account is debited and Revenue account is credited. Here the amount is taken as qty*sale order unit price.
If sale order unit price is higher than item cost plus sales and distribution cost, then the company will enjoy the profit.

What are the modules covered under oracle finance

6 Answers   IBM,

---

where does COGS account hit?

1 Answers  

---

What is the difference between Recurring Journals and Recurring Invoices? What is the need for the Recurring Journals in GL when Recurring invoices exist in AP?

2 Answers   BirlaSoft,

---

What is the use and benefit of Multi-Org.

6 Answers   Aurobindo,

---

What is the Functionality of Oracle Applications E-Business Suite?

3 Answers   TCS,

---

---

what is drill down in oracle apps r12? What is GL Drilldown?

1 Answers   Infosys,

---

What are the pre-requisites for an AP Invoice line to move to FA module?

3 Answers  

---

Hi, Friends i am Commerce Graduate (B.Com). I have completed my graduation in the year 2006. I have 3+ years of experience in Accouns. When i was in B.com 2nd year, since then i have been working as an Accountant. Apart from that i learnt Oracle Applications Finance from a Certified Partner of Oracle, but the thing is i dont have Oracle real time experince, and i want experience in oracle as Functional Consultant. Can i get job in oracle or i have to Procced in Accounts/Finance Field . Please advice me

1 Answers  

---

I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thank you in advance for your help.

3 Answers   Oracle,

---

What is the procedure for requisition import?

1 Answers   Cap Gemini,

---

What is the procedure for requition import?

0 Answers   Oracle,

---

what is the gap analysis, how do you defined.what are the pre- requisities

2 Answers   Tech Mahindra,

---