Answer / 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

Answer / satishmkumar

The Accounting Entries in P2P cycle when we receive the goods.

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 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 entry is........

Inventory A/c Dr
Cash A/c Cr

Answer / arvind n

At the time of receipt-Receiving inventory a/c dr
To Inventory AP Acurral a/c

At the time of invoice - Inventory AP Accural a/c dr
To Liability a/c

At the time of payment - Liability a/c dr
To Cash or Bank

Answer / mahmoud maher

Receipt
DR: Goods under inspection
CR: AP Inventory Accrual

Deliver:
DR: Inventory
CR: Goods under inspection

AP Invoices
DR: AP Inventory Accrual
CR: Liability

Payment
DR: Liability
CR: Cash Clearing

CM Clearing
DR: Cash Clearing
CR: Cash

Answer / venki

At the time receiving:
Inventory material receiving Ac
To AP Accrual Ac

At the time invoice creation:
Item Expense Ac
To Liability Ac

At the time of matching with PO:
AP Accrual Ac
To Liability Ac

At the time of payment:
Liability Ac
To Cash Clearing Ac

At the time reconciliation:
Cash Clearing Ac
To Cash Ac

Answer / sadhik

At the time of receipt-Receiving inventory a/c dr
To receiving a/c cr

from purchansing
Receiving a/c dr
AP Accural a/c cr

At the time of invoice - Inventory AP Accural a/c dr
To Liability a/c

At the time of payment - Liability a/c dr
To Cash or Bank

What are the different types of Set of Books ?

3 Answers  

Steps for payment batch?

2 Answers  

payable new features

1 Answers  

I am working with AP after creating the transaction in AP I am unable to creating the Accounting. The system is showing this message " Online account could not be created for this transaction. Please submit the create accounting concurrent program with the report parameter set to detail to determine the problem"

5 Answers   Polaris,

Hi All, My name is Prashant ..I want to know good institutes in Bangalore which provide training on Oracle Apps Financials..AP,AR,GL,CM,...Mail me at prashant09itagi@gmail.com

9 Answers   ABM, Wipro,

What is the entry in oracle apps ap,ar,gl for following transations1.one pipe purchase at rs.1002.one pipe sales at rs.150

0 Answers  

What are the accounting entries in p2p cycle??

8 Answers   Sierra Atlantica, TCS,

what is aim methodology?explain me in detail? what is ur role in it ? in which phases u involved

4 Answers   Cap Gemini, Satyam,

I hv done revaluation corectly even got the result also but why report showing in warning mode in view window after refreshing ?

2 Answers  

Can we get the status as remmitted after confirming the Payment batch. If so please tell me the set ups required. Regards, Roopa

2 Answers  

how data is transferred from interface table to base table ?

4 Answers  

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

0 Answers