Answer / psvnaidu

1)Whenever we buy item there is no journal Entry.

2)When we Receive Material into inventory Org
Material Value A/C ---- Dr
Inventory AP Accrual A/C --- Cr

3)When we are going for payment
Charge A/c --- Dr
Liability A/c --- Cr

Liability A/c --- Dr
Cash Clearing A/c --- Cr
4)In Cash Management

Cash Clearing A/c --- Dr
Cash A/c --- Cr

5)When we Making Sale
Cost of Goods A/c --- Dr
Material A/c --- Cr

Answer / moses

Tha basic rule is "What comes in is debit" and "what goes out is Credit"

While receiving the Material
----------------------------------------
Receiving Inventory a/c 100 dr
To Ap accrual a/c 100 cr


While stocking the Material in the inventory
---------------------------------------------------------------
Material a/c 100 dr
To Receiving Inventory a/c 100 cr


(Here the receiving inventory would be knocked off. the net entry would be
Material a/c 100 dr
to Ap accrual a/c 100 cr . Than means Material comes in and the payments has to be done)

While recording the invoice
-------------------------------------------
Charge a/c 100 dr
To Liability a/c 100 cr

During the payment of the invoice
-------------------------------------------
Liability a/c 100 dr
To Cash clearing a/c 100 cr

Cash clearing a/c 100 dr
To Cash a/c 100 cr
------------------------------------------------------------------------------------------------------------------
while making receivable invoice

Receivable a/c 100 dr
To Revenue a/c 100 cr

Answer / anuj

While recording the invoice
-------------------------------------------
Ap Accural a/c 100 dr
To Liability a/c 100 cr

rest like mosses

Answer / kan

Is it possible when you sale 1 pipe at Rs.150 and you book
Revenue a/c @ Rs.100.

Answer / kan

what about Sales Enrty one pipe sales at Rs.150

Answer / khan

In order mgmt :
Cost of Goods A/c --- Dr 100
Material A/c --- Cr 100

In AR :
Receivable a/c 100 dr
To Revenue a/c 100 cr

Answer / mohammed akramuddin

Furniture account dr 100
cash account cr 100



cash account dr 150
sales cr 150

Answer / hussain

One pipe purchase:

The Accounting depends on the receipt routing
Lets assume receipt routing is Inspection:

Material Inspection A/C 100
To Inventory AP Accrual A/C 100


Receiving Inventory A/C 100
To Material Inspection A/C 100


Material(Pipes) A/C 100
To Receiving Inventory A/C 100


One Pipe sales:

COG's(Pipes) A/C 100
To Material(Pipes)A/C 100

Can somebody provide me the various or atleast most frequent issues a support consultant deal with?

2 Answers   Wipro,

Payment void is disabled for only one specific payment. what will be the problem..if any idea Please guide me

3 Answers   ACC,

"Testing Client Specific Business Rules" explain.

1 Answers   HCL,

What is ment by Roll back depreciation?

2 Answers  

What is write off Accruals? what is the use of this?

1 Answers   Genesis,

What is Cross Journal?

1 Answers   Accenture,

Expalin TCA architecture, why it was introduced in R12?

6 Answers   ABC,

Expalin sequence in brief in R12 in general Ledger module. what are major changes around this functionality?

2 Answers  

in payable module journal entries

1 Answers  

Hi, Friends i am Commerce Graduate (B.Com). I have completed my graduation in the year 2006. I have 3+ years of experience in Accouns. When i was in B.com 2nd year, since then i have been working as an Accountant. Apart from that i learnt Oracle Applications Finance from a Certified Partner of Oracle, but the thing is i dont have Oracle real time experince, and i want experience in oracle as Functional Consultant. Can i get job in oracle or i have to Procced in Accounts/Finance Field . Please advice me

1 Answers  

Explain about Localization (IND & US ) in Oracle Apps ?

0 Answers   KPIT,

What are the types of journal categories available in the AP?

2 Answers   DELL,