What will accrue in Payables?

Answers were Sorted based on User's Feedback

What will accrue in Payables?..

Answer / omsai


Is This Answer Correct ?    11 Yes 3 No

What will accrue in Payables?..

Answer / tgs100

Till invoice is created, liability is recorded in Exp AP Accrual account or Inv AP Accrual Account. When invoice is matched against a PO/Receipt, AP Accrual is relieved and Liability will get accrued in Payables. Once invoice is paid, liability is relieved.
Hence in invoice, the accounting entries would be
AP Accrual A/C - Dr (Expense A/C in case of Expense Reports)
Liability A/C - Cr

During Payment,
Liability A/C - Dr
Bank/Cash A/C - Cr

Is This Answer Correct ?    1 Yes 0 No

What will accrue in Payables?..

Answer / prasad

Accrue in Payables means When any Goods/Services enter in the Organisation, Its becomes a liability to pay to the vendor. Therefore The payment for the same called is accrual which is payable in near future.

Is This Answer Correct ?    0 Yes 0 No

What will accrue in Payables?..

Answer / mandhala

Accrued Revenue: Revenue is recognized before cash is

Is This Answer Correct ?    6 Yes 8 No

Post New Answer

More Oracle Apps Financial Interview Questions

Intercompany setup in oracle applications with transaction processing

1 Answers   IBM,

Difference between quick payment and manual payment?

2 Answers   ICICI,

Explain Secondary Tracking Segments.

1 Answers  

In Multi Org can you tell what is SHORT ENTITY ?

3 Answers   UST,

Explain the concept of reccuring journals ?

4 Answers   Oracle,

Client want to create capital goods assets in PO,Witout using Inventory and he wants to transfer to FA module.what is the steps and how to do.pls explain.

3 Answers   Oracle,

Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is the Accounting Entry?

3 Answers   Polaris,

What is the Customization? Can any one tell me with examples in Real time scenarios?

1 Answers  

Hi, I am presently working in one of the reputed BPO in Oracle Finance(end user) but i am interested to work in Oracle consultant or Oracle support. Can any one provide the materials.

3 Answers  

Can we implement MRC at payables?

2 Answers  

Hi How to transfer the funds one bank to another bank. Ex: i am using bank called citi bank and i want make the paymeny immediately and my bank balance is 0.So i have another bank account called HDFC and now i wnt to transfer funds HDFC to CITI bank.is this possible in oracle applications? or when i defined MO i need to implement bank funds transfer moudle.Plz clarify my doubt?.

2 Answers   Oracle,

What is meant by RTS transactions?

1 Answers   Tech Mahindra,

  • Oracle Apps Technical Interview Questions Oracle Apps Technical (503)
  • Oracle Apps Financial Interview Questions Oracle Apps Financial (774)
  • Oracle Apps Manufacturing Interview Questions Oracle Apps Manufacturing (53)
  • Oracle Apps HRMS Interview Questions Oracle Apps HRMS (82)
  • Oracle Apps CRM Interview Questions Oracle Apps CRM (9)
  • Oracle Apps SCM Interview Questions Oracle Apps SCM (138)
  • Oracle Install Base Interview Questions Oracle Install Base (62)
  • Oracle Service Contracts Interview Questions Oracle Service Contracts (101)
  • Oracle Apps AllOther Interview Questions Oracle Apps AllOther (13)