Answer / prasad chowdary

In P2P, JVs will get created @ Receipt entry level.

1) when received material/MRN is generated:

Receiving A/c Dr
To AP Accrual A/c

2) When material issued to Inventory:

Charge A/c Dr
To Receiving A/c

3) When Invoice is entered:

AP Accrual A/c Dr
Tax A/c Dr (If any)
To Liability A/c

4) When Making Payment:

Liability A/c Dr
To Cash Clearing A/c

5) When Receonciling Payment:

Cash Clearing A/c Dr
To Cash A/c

Tnx
Prasad

Answer / aravind reddy

IN PTP CYCLE TOTAL FOUR MODULES GETS EFFECTED THEY ARE
PURCHASING,INVENTORY,ACCOUNTS PAYABLE,CASH MANAGEMENT.

WHEN PO RAISED
PO CHARGE ACCOUNT DR
TO RESERVE FOR ENCUMBERNCE

WHEN ITEM IS RECIEVED
IETM A\C DR
TO AP ACCURAL A\C

WHEN INVOICE RAISED
EXPENCES\AP ACCURED A\C DR
TO AP LIABILITY

WHEN INVOICE VALIDATED
RESERVE FOR ENCUMBERENCE A\C DR
TO PO CHARGE A\C

WHEN PAYMENT IS BOOKED
AP LIABILITY A\C DR
TO CASH\BANKCLEARING C

WHEN PAYMENT IS MADE
CASH\BANK A\C DR
CASH\BANK CLEARING A\C

What is the report used to identify duplicate suppliers?

2 Answers   Oracle,

---

In Oracle GL how to review the accounts associated with the financial statements?

1 Answers  

---

what is accounting entry once we receive GRN and inventory accounting.?

3 Answers   Ernst Young, Tech Mahindra,

---

What is elimination?

2 Answers   Ernst Young,

---

What is the basic difference between ship to and bill to, can I hv one ship to but nos of bill to or vice versa or in what way these r related ?

5 Answers  

---

What is the difference between Standard Remittance and Factoring Remittance?

1 Answers   TCS,

---

What is the Entry in Oracle Apps AP,AR,GL for following Transations 1.One Pipe purchase at Rs.100 2.One Pipe Sales At Rs.150 Which account Afected ,What is the journal entry What is the entry at respective module how many modules are afected through above transation

8 Answers   Cap Gemini, Ramco,

---

Let me know to Support projects life cycles details?

2 Answers   Accenture,

---

What is an ERS

3 Answers   IBM,

---

Is FA Supports Multi _org?

1 Answers  

---

What is write off in payables? When do we use?

2 Answers   Genesis,

---

if you are not having a cashmanagement module how to reconcile or how to clear the transactions?

2 Answers   Genpact,

---