Answer / skp

At the time of receipt
------------------------------
Receiving inventory a/c dr
to Inventory AP Acurral a/c

At the time of invoice
--------------------------------
Inventory AP Accural a/c dr]'
to Liability a/c

At the time of payment
-------------------------
Liability a/c dr
to Cash or Bank

At the time of Delivery of Materials in to Inventory
----------------------------------------------------
Materials A/c Dr
To Receiving Inventory A/c

Answer / ramkee

When we recive goods:

Receiving inventory a/c dr
to Ap accrual a/c

when delivery to sub inventory:

material a/c dr
to receiving inventory a/c

when we record invoice:

Ap accrual a/c dr
to liability a/c

when we make payment:

liability a/c dr
to cash clearing a/c

when we clear payment in cash management:

cash clearing a/c dr
to cash a/c

Answer / raghu

1. Creation of Requisition – No Accounting entries will come
2. Creation of Purchase Order – No Accounting entries will come
3. Receiving item

Receiving inventory a/c Dr
To Inventory AP Accrual a/c

4. Move the items from receiving point to sub inventory

Inventory a/c Dr
To Receiving Inventory a/c

5. Prepare purchase invoice

AP Accrual a/c Dr
To Liability a/c

6. At the time of payment – if reconciliation is there

Liability Account Dr
To Cash Clearing account

7. At the time of reconciliation

Cash Clearing Account Dr
To Cash Account

Answer / kishore

At the time of receipt
------------------------------
Receiving inventory a/c dr
to Inventory AP Acurral a/c

At the time of invoice
--------------------------------
Inventory AP Accural a/c dr]'
to Liability a/c

At the time of payment
-------------------------
Liability a/c dr
to Cash or Bank

Answer / ravi reddy

Accounting Entries for P2P cycle:

When-ever we are creating Po no entries will be created.
> Receipt : Inventory Receiving Account Dr to AP Accrual Account Cr.

> Invoice : AP Accrual account to Dr to Liability Account Dr.

> Payment : Liability Account Dr to Bank Clearing Account.

> when cleared in Bank : Bank clearing A/c to Bank A/c.

Answer / r dhamu

System will not generate Entries for Requisition, Quotation and Purchase Order.

When we receive the Goods &Receipt

Inventory Receiving A/C Dr
Inventory AP Accural A/C Cr

When Goods Move to Inventory

Inventory Material Value A/C Dr
Inventory Receiving A/C Cr


When we enter the Invoice in AP Module

If we match with PO

AP Accrual A/C Dr
Liability A/C Cr

If we do not match with PO

Charge or Item Expense A/C Dr
Liability A/C Cr

When we issue the Payment for entered Invoice

Liability A/C Dr
Cash Clearing A/C Cr


When Reconcile or Clear the Payment

Cash Clearing A/C Dr
Cash A/C Cr

Answer / raj

1) AT GRN (RECEIVING ITEMS).

Receiving Inventory A/C (Debit)
To Inventory AP Accrual (credit)

2)MOVE THE ITEMS INVENTORY TO SUB INVENTORY.

Material A/C (Debit)
To Receiving inventory (Credit)

3) AT THE TIME OF INVOICE

Inventory Ap Accrual A/C (Debit)
To Supplier Liability (Credit)

4) AT THE TIME OF PAYMENT

liability A/c (Debit)
To Cash clearing A/C (Credit)

5) AT CASH CLEARING IN (CM)

Cash clearing A/c (Debit)
To Cash Or Bank (Credit)



{ YOURS RAJ }

Answer / sagar

At the time of receipt:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Receiving inventory a/c dr
to
Inventory AP Acurral a/c

At the time of invoice
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Inventory AP Accural a/c dr
to
AP Liability a/c cr

At the time of payment
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

AP Liability a/c dr
to
Cash a/c cr

what is the difference between conversion,customization,inbound and outbound programs ?

2 Answers  

can anyone explain roll back in FA?

2 Answers  

Explain the set up used for Automatic or Manual Supplier Numbering.

4 Answers   HCL, IBM, TCS,

What are the matching Po options in AP Invoice Workbench and what is the different b\w them?

1 Answers  

wat is auto accounting

5 Answers   Meru Cabs,

In Accounts Payable credit memo and debit memo are entered with -ve amount but in Accounts Receivable why credit memo has -ve amonut and debit memo + ve?

6 Answers   Silicon Valley,

What is gap analysis, what are the pre-requisities?

0 Answers  

Trial balance can run which level, legal entity level or operating unit level.

4 Answers   Aurobindo, HCL,

How many reporting Set of Books can be attached to one primary Set of Books

8 Answers   HCL,

difference between 11i&r12

0 Answers  

Difference between header level tax calculation and line level tax calculation?

2 Answers  

What is the purpose of MO: Security Option profile option ?

4 Answers   Tesco,