When does the Invoice price variance arise? What is the
accounting entry?
- 3 Answers
- 13400 Views
- Accenture, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / uma ulisi
Invoice Price variance is the difference between the
Purchase Order Price and Price entered in AP Invoice for
PO Matched Invoices. The difference is Debited or credited
to Invoice Price Variance Account
Ex :
Po price =10 qty=10
Receipt and Invoice price =11 qty=10
When received material
Receiving Material A/C dr 110
AP Accrual A/C cr 110
When we matched the invoice with receipt,
The Accounting entry is,
AP Accrual A/C dr 100
Invoice price variance A/c dr 10
Liability A/c cr 110
Is this Accounting entry is correct or Vice versa.
| Is This Answer Correct ? | 23 Yes | 0 No |
Answer / srikrishna
HI All,
How can we fix /correct the AP Accrual A/C? In the above scenario there is 10 (USD/INR) balance in AP Accrual A/C and how can fix that. In our system we have restricted MJE in GL, so help me to fix this variance
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sree
The Invoice price variance arise when there is difference
between the line amount and the distribution amount
| Is This Answer Correct ? | 0 Yes | 17 No |
When does the Invoice price variance arise? What is the accounting entry?
what is legacy system
What is Deposit? A customer deposit Rs.15,000/ and he ordered the goods of Rs.10,000/ against the deposit. Now he wants the remaining cash back. how do you do in receivables?
what are the documents prepared by functional consultant under aim methodology, which document will be prepared in each phase and which is the important phase in aim.
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 the system calculated the retained earnings in r12
What is the CTA Account& What is the use of this?
Can i increse/Decrease ths size of value set ?
What are mandatory steps for payable module before entering transaction ?
How do U do the Analysis of discounts lost and fixing the root cause
What is meant by RTS transactions?
2. O2C cycle with which accounts get effected
Oracle Apps Technical 
