in Oracle Payable s we are not matching Po how to clear accrual account in P2p cycle?
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Answer Posted / tgs100
If invoice is matched to PO/Receipt, Accrual account is derived from PO/Receipt. If you are using PO/Receipt for your purchases, but not matching in the invoices, then the user (who enters invoice) should manually enter the accrual account (entered in PO) in the invoice line/distribution.
But for asset items, user needs to enter asset clearing account in the distribution, if mass addition is used. again in this case, we need a manual adjustment journals in GL to relieve accrual and asset clearing.
Note: Question asked in the interview is a hypothetical scenario to test the accounting knowledge of the candidate. It may not happen for all the invoices, may happen for some invoices.
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