Interested to Buy Any Domain ? << Click Here >> for more details...
one employee went on site , we given to him 1000 through prepayment . but i final spends amount is 800, then what about remaining 200 , how can we refund to organisation. through debit memo or credit memo, or , prepayment or if any, please give me best solution , if any one know this question answer reply me this mail, nmallioracle@gmail.com
- 1 Answers
- 3458 Views
- Polaris, I also Faced
- E-Mail Answers
Answer / govind singh
1.Create a debit memo with a clearing account in distribution and take the refund (do the payment)
2. Create a standard invoice with the same clearing account which we use in debit memo and apply the Prepayment.
Let's see the entire process accounting from payment to employee.
- Prepayment A/c Dr. 1000
To Supplier Liability A/c 1000
- Prepayment Paynent
Supplier Liability A/c Dr. 1000
To Cash Clearing A/c 1000
- Standard Invoice of employee expenses of 800
Item Expense A/c 800
To Supplier Liability 800
- apply the Prepayment
Supplier Liability A/c Dr. 800
To Prepayment A/c 800
- Debit Memo
Supplier Liability A/c Dr. 200
To Clearing A/c.200
- Standard Invoice (with Clearing account offset)
Clearing A/c Dr. 200
To Supplier Liability A/c 200
- Apply the Prepayment (remain amount)
Supplier Liability A/c 200
To Prepayment A/c 200
So all the account is knocked off.
Follow this process
| Is This Answer Correct ? | 0 Yes | 0 No |
What is revaluation & translation ?
Hi Friends i Completed my M.Com in 2007 From Osmania University I learn Oracle Financials. Can i get the job offers as a fresher? I have only year exp. in C.A. Firm so can i get the job? Plz send me suggistions. Thanks Dear friends.
Supplier send Material to company as on year end I.e. 31 st march. Company recd the material at store . but invoice not came with material as on 31 st march can company add martial in stock ? what is the entry in stoke and what is the liability to supplier in oracle apps
What's the accounting entry when an Invoice is created in AP?
What is the purpose of MO: Security Option profile option ?
dear gurus i would like to know about Flex field qualifiers
Invoice Approval Process?
What are the steps involved in connecting reporting set of books to primany set of books. How to translate from Functional to Reporting currncy every month or daily?
For what kind of necessary information we Interact with Vendors with regard to AP
i have defined currency rates for the month of june translation purpose and june period is opened but in translation form i have seen periods from july why it happend could u please explain
SLA usage ans how to define setups?
Is FA Supports Multi _org?
Oracle Apps Technical 
