Interested to Buy Any Domain ? << Click Here >> for more details...
What are the Accounting Entries in P2P.in Oracle Financial
terminology ?
- 6 Answers
- 18112 Views
- I also Faced
- E-Mail Answers
Answer Posted / ashraf momtaz
The Accounting Entries in P2P cycle when we receive the goods.
A.Inventory Item:
-----------------
1.When we receive the goods(for staging areas)
Receiving Inventory A/c Dr
Inventory AP Accural A/c Cr
2.When we transfer the goods (to sub-inventory)
Inventory A/c Dr
Receiving Inventory A/c Cr
3.When We create AP Invoice matched to Purchase Order
Inventory AP Accrual A/c Dr
Liability A/c Cr
4.(a)When we make the payment and follows Reconciliation...
Liability A/c Dr
Cash Clearing A/c Cr
(b)When payment is cleared....
Cash Clearing A/c Dr
Cash A/c Cr
OR
4. When we make the payment and we are not following
Reconciliation.......
Liability A/c Dr
Cash A/c Cr
And the Final When issued to Dept........
Expencse A/c Dr
Invemtory A/c Cr
=================================================
B.Expense Item:
---------------
1.When we receive the goods(for staging areas)
Receiving Inventory A/c Dr
Inventory AP Accural A/c Cr
2.When we transfer the goods (to sub-inventory)
Expense A/c Dr
Receiving Inventory A/c Cr
3.When We create AP Invoice matched to Purchase Order
Inventory AP Accrual A/c Dr
Liability A/c Cr
4.(a)When we make the payment and follows Reconciliation...
Liability A/c Dr
Cash Clearing A/c Cr
(b)When payment is cleared....
Cash Clearing A/c Dr
Cash A/c Cr
OR
4. When we make the payment and we are not following
Reconciliation.......
Liability A/c Dr
Cash A/c Cr
| Is This Answer Correct ? | 10 Yes | 0 No |
Post New Answer View All Answers
On what different real time issues you worked while doing P2P cycle implementation?
How to support projects life cycles details?
What is the db number of a particular customer TCA?
What is gap analysis, how do you defined?
How do write a discoverer report to identify zero dollar suppliers/invoices where the supplier is on hold?
Charge Back Setups ?
Hi guys, any person available ap,ar material pls send me this mail.id sreenathapps09@gmail.com
What is the use of operating unit, while configure multiorg?
payment types and payment methods.
What is the procedure for requition import?
What are the inventory report to check inventory status.
How do you adjust receivables?
Substitute receipts and Unordered Receipts
Re: what are the Issue that we face in Gl,PO and AP while Supporting
what is the use of hr: security profile, while configure multiorg?
