adspace


What are the accounting entries in p2p cycle??

Answer Posted / 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

Is This Answer Correct ?    89 Yes 19 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

1.what is the name of program to create invoice automatic from po.? 2.How to auto upload the bank statement? 3.PO tax has not flown to invoice . why? Debit memo not generated for return of goods.??

3553


I am traying to access oracle functiona/ technical interview questions asked by the consultancy "infosys", but i cant find anything when i go the to the links, i need the oracle erp techno functiona questions pls, Thanks, in advance Tovia

2535


what r issues faced in gl

2871