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Supplier send Material to company as on year end I.e. 31
st march.
Company recd the material at store . but invoice not came
with material as on 31 st march
can company add martial in stock ?
what is the entry in stoke and what is the liability to
supplier in oracle apps
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Answer / oracle lagoon
can company add martial in stock ?
Ans: YES
what is the entry in stoke
Ans:
Inventory Receiving DR
Inventory AP Accrual CR
what is the liability to
supplier in oracle apps
Ans: Its the cost of the goods. They can be adjusted in the
adjustment period.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / biduth chakraborty
In addition to above with the Stock updation the additional
entry in Inventory is generated
Material A/C Debit
Receiving Inventory A/c Credit
The Liability would the about Amount of Good Received. Same
would be Accrued once the Goods are received generating
entry Inventory Receivingl A/c debit and Inventory Accrual
A/c Credit. Once the Invoice is Received and matched in AP,
the Entry generated would be Inventory Accrual A/c Debit
and AP Liability A/c Credit.
| Is This Answer Correct ? | 1 Yes | 0 No |
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