What's the accounting entry when an Invoice is created in
AP?
Answers were Sorted based on User's Feedback
Answer / mahi
Through Matching with Purchase Order:
AP Accrual A/c Dr
To Liability A/c
Without Purchase order or Manually:
Charge A/c Dr
To Liability A/c
Is This Answer Correct ? | 25 Yes | 3 No |
Answer / shantanu
Charge A/c is debited and Liability A/c is credited.
In case there are any taxes involved then also the relevant
Tax A/c is debited and Liability A/c is credited.
Is This Answer Correct ? | 23 Yes | 2 No |
Answer / mahesh .gudeti
When we are creating the at that entry will be like this
Item Expense A/c Dr
To Liability A/C should be credited.
Is This Answer Correct ? | 1 Yes | 0 No |
AP Accrual A/C......Dr
To Liability A/c
Is This Answer Correct ? | 0 Yes | 0 No |
We have raised the requisition and PO, and also raised the Invoice and made the payment but did not match with PO. What we need to do with that pending PO ?
Is FA Supports Multi _org?
What is meant by receipt routing? Types?
why should we create prorate calender and what is the difference between depreciation calender and prorate calender in fixed assets module?
What is a Value set and types of value set?
What is ment by leased asset?
2 Answers Chartered Accountant, Sierra Atlantica,
what is the difference between position hierarchy and employee hierarchy in purchasing module?
what is invoice variance in ap
What are the setups in R11i for fund transfer between two bank
What are the modules covered under oracle finance
Explain the Document Method ?
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