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What is use of AP Accounting Periods?

Answers were Sorted based on User's Feedback



What is use of AP Accounting Periods?..

Answer / omsai

AP ACCOUNTING PERIODS HELPS TO PERFORM INVOICES RAISING AND
PAYMENTS MADE WITH IN THE THE APPLICATION. BEFORE WE
TRANSFER BALANCES TO GL , WE NEED TO CLOSE THIS SUB LEDGER
PERIODS. AFTER FROM THAT, IF PROPER VALIDATIONS ARE NOT
TAKEN AND HOLDS EXISTS ON EIGHER INVOICE OR PAYMENT THEN WE
CANT CLOSE AP PERIODS..WHICH INTURN EFFECTS ON GL CLOSE AS
WELL AS CONSOLIDATION

Is This Answer Correct ?    7 Yes 1 No

What is use of AP Accounting Periods?..

Answer / nisha

Accounting periods are the periods in which you perform
your operations.Accounting periods are closed so as to
ensure that no accounting entries can be passed in that
period after they are clsoed.Suppose you have issued your
results without closing your accounting periods and then
you chnage some entries in that period thus in turn
misleading the public at large.So it is important to close
your accounting periods.Also, if accounting periods in Ap
are not closed it shall not allow you to run GL.Prior to
closng the periods it is important to ensure that all your
invoices are validated and no hold exists on any one of
them.If hold exists it shall not allow you to run GL.

Is This Answer Correct ?    8 Yes 2 No

What is use of AP Accounting Periods?..

Answer / javvad

AP ACCOUNTING PERIODS HELPS TO PERFORM INVOICES RAISING AND
PAYMENTS MADE WITH IN THE THE APPLICATION. BEFORE WE
TRANSFER BALANCES TO GL , WE NEED TO CLOSE THIS SUB LEDGER
PERIODS. AFTER FROM THAT, IF PROPER VALIDATIONS ARE NOT
TAKEN AND HOLDS EXISTS ON EIGHER INVOICE OR PAYMENT THEN WE
CANT CLOSE AP PERIODS..WHICH INTURN EFFECTS ON GL CLOSE AS
WELL AS CONSOLIDATION

Is This Answer Correct ?    6 Yes 1 No

What is use of AP Accounting Periods?..

Answer / javvad

Hai, this is javvad MBA ORACLE FINANCE

BY THE USE OF AP ACCOUNTING ...............

Is This Answer Correct ?    5 Yes 16 No

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