Answer / anji

1. Enter Sales Order: Accounting impact Nil
2. Ship items
-----------Debit ---------PCO
-----------Credit --------Inventory
3. Enter invoice
-----------Debit ---------Receivables
-----------Credit --------Revenue
4. Enter receipts
-----------Debit ---------Cash / Bank
-----------Credit --------Accounts Receivables

Answer / venugopal

Order Management

There are no accounting entries generated in OM

Inventory

When you ship the Goods

Dr Cost of Goods sold (picked up from the Item)
Cr Inventory (picked up from Subinventory)

Receivables

When you run the Autoinvoice Program and create an Invoice

Dr Receivables
Cr Revenue

When you Receive Cash

Dr Cash/ Bank Account
Cr Cash Clearing Account

When you receive the payment

Dr Cash Clearing Account
Cr Receivables A/c

Answer / v srinivas

AT BOOKING  -  NO ENTRY

 AT PICK RELEASE 

     INV STAGING AC DR
        TO INV FINISHED GOODS


 AT SHIP CONFIRM

         COGS AC DR
           TO INV MATERIAL AC

INVOICE

        RECEIVABLE AC DR
          TO REVENUE AC

RECEIPT APPLY ON THE TRASACTION

         UNAPPLIED CASH AC DR
            TO RECEIVABLES

CASH SENT FOR REMITTANCE

         REMITTANCE AC DR
            TO CONFIRM CASH

RECONCILIATION IN CM

           CASH AC DR
             TO RECEIVABLE AC

Answer / prasad

O2C Cycle covers 5 Stages of accounting cycle.

1. Staging of Goods/Items / Pick Release
Inventory Staging A/C ......Dr 500
Finished Goods A/C ......Cr 500
2. Ship Confirmed
COGS A/C ......Dr 500
Inventory Material A/C ......Cr 500
3. Raising Customer Invoice
Receivable A/C ......Dr 500
Revenue A/C ......Cr 500
4. Receipt of Customer Payment
Remittance Cash A/C........Dr 500
Receivable A/C .................Dr 500
5. Remittance to Bank
Cash A/C...........................Dr 500
Remittance Cash A/C........Dr 500

Answer / s.y.kishore

O2C Cycle(order to cash)
1.Sales order
Reeving inventory a/c debit 1000
sub inventory a/c credit 1000
2. Pic release
deffer cogs a/c debit 1000
Reeving inventory a/c credit 1000
3. ship conform
cogs a/c debit 1000
deffer cogs a/c 1000
4.invoice/transacation
Receivables a/c debit 1000
revenue a/c credit 1000
5.receipt from customer
conformed cash a/c debit 1000
receivables a/c credit 1000
6.Remit to bank
Remitted cash a/c debit 1000
conformed cash a/c credit 1000
7 Reconciliation
Cash a/c debit 1000
remitted cash a/c credit 1000

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