Define suspense account in Oracle apps and why is it
mandatory?
Answers were Sorted based on User's Feedback
Answer / rahul
As far as i know, You can simply enable 'suspense account'
at 'set of books' level and specify the same account in the
respective filed.
Well technically it is not mandatory but it's preferrable
because while entering journals whenever "A debit line is
entered with out it's corresponding credit line or credit
line is entered with out it's corresponding debit line the
suspense account will come into play to balance the entry
as per the accounting convention i.e 'double entry system'.
You can also customize the suspense account as per your
requirements when this setup is done the account which is
specified by the user will come instead of suspense account
and the suspense line will be added.
Is This Answer Correct ? | 10 Yes | 0 No |
Answer / budagam ashwin kumar
when ever user enter debit with out credit at that time system automatically populate the SUSPENSE a/C IF suspense account enable if it is disabled system automatically shows error no6
unbalanced journal Entry Suspense not allowed.
Suspense account is an account in GL in Which amounts are temporarily Recorded. The suspense a/c is used because the Proper Account Could not determined at the time that the transaction was recorded. when the proper account is determined, the amount will be moved from the suspense account to the proper account.
Is This Answer Correct ? | 6 Yes | 0 No |
Answer / kim khan
Suspense account is used to balance out of balance journal
entries, this is achieved by enabling the suspense account
check box and entering a account code for it. You can also
create suspense account per journal source and category.
Is This Answer Correct ? | 4 Yes | 3 No |
Answer / kapil
Hi,
You can enbale suspense account at SOB/Ledger level.
However it is not mandatory.
Is This Answer Correct ? | 0 Yes | 1 No |
What is the use of auto create?
in general ledger it is posiible for reverse entry in any another option ( not reverse tab)
how data is transferred from interface table to base table ?
What are the issues you have faced at the time of implementation, Migration, Support and Upgradation project and how you resolve them(AP,AR,GL,FA,CM)!!!
1 Answers IBM, Oracle, Tech Mahindra, Wipro,
Hi guys, any person available ap,ar material pls send me this mail.id sreenathapps09@gmail.com
process from PO to Asset creation, with accounting entries.?
How can a person done a course in DSRC 11i functionals can get job outside? All companies need minimum 1-2 years of work experience I finished CA-Inter,MBA_Finance and M.Com., Please advice me how can I enter in to software oracle field Iam currently working in BPO as an oracle enduser
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 ?
Accounting methods?
What is Intercompany Invoicing?
What is the procedure for requition import?
What is the use of Additinal paythrough days n AP?