Please let me know the various accounting entries in AP &
AR for a layman. Like invoice posting, payment, offset
entries, exchange fluctuation entries, i am preparing for
an interview. PLEASE HELP
- 4 Answers
- 9676 Views
- Oracle, I also Faced
- E-Mail Answers
Answer Posted / raj
Process Accounting Effect
1) PO creation( item/services, qty, need-by-date, terms,
price) N/A
2) Receipt creation Receiving a/c Dr
To AP accrual a/c Cr
3) Inspection completed and delivery Inventory a/c Dr
To Receiving a/c Cr
4) Invoice creation AP accrual a/c Dr
To Liability a/c Cr
5) a) Payment (if no clearing enabled) Liability a/c Dr
To Cash a/c Cr
b) Payment (if clearing enabled) Liability a/c Dr
To Cash Clearing Cr
Cash Clearing Dr
To Cash a/c Cr
| Is This Answer Correct ? | 9 Yes | 0 No |
Post New Answer View All Answers
What is gap analysis, what are the pre-requisities?
What is meant RD020
Explain Customization process?
Invoice Approval Process?
what is the meaning of purchase default and what are the types
Re: While you are in implemenation what are u faced the issues ? tell me what some ap & GL issues?
Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.
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
What is the Use of Grouping Rule in Receivables ? is it mandatory field ?
There is employee X and employee Y (who is supervisor of X); when Y submits expenses how will the system ensures that this should not go to X even if he has the approval authority.
how we can stop the transaction for not transfer to the reporting ledger at the time of entering the transaction in pl
What is the use of hr: user type, while configure multiorg?
When we run a GL Reconciliation Report, we also see the void payments in that report. Even though i disable the option of Show Void payments, its appearing in the report.How do i proceed so that i dont see those void payments in the GL Reconciliation Report?
Difference between header level tax calculation and line level tax calculation
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
