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

Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.

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I have a requirement where during the consolidation into USD (from GBP books) I want use two different exchange rates for two consolidations. Child SOB is same but the Parent SOB's are different. How can this be done in Oracle Financials? Answers will be Appreciable. Thank You.

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We are running Oracle EBS 11i and yesterday whilst doing my month-end I forgot to select "calculate finance charge" on form ARXSUPST AR Print Statement run. I am struggling to get to My Oracle and was hoping someone out there might have experienced or heard of a similar problem. What are my options to rectify this situation... I look forward to you inputs..... Thank you Regards Salie

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