Answer / omsai

EXPENSES AND LIABILITIES

Answer / tgs100

Till invoice is created, liability is recorded in Exp AP Accrual account or Inv AP Accrual Account. When invoice is matched against a PO/Receipt, AP Accrual is relieved and Liability will get accrued in Payables. Once invoice is paid, liability is relieved.
Hence in invoice, the accounting entries would be
AP Accrual A/C - Dr (Expense A/C in case of Expense Reports)
Liability A/C - Cr

During Payment,
Liability A/C - Dr
Bank/Cash A/C - Cr

Answer / prasad

Accrue in Payables means When any Goods/Services enter in the Organisation, Its becomes a liability to pay to the vendor. Therefore The payment for the same called is accrual which is payable in near future.

Answer / mandhala

Accrued Revenue: Revenue is recognized before cash is
received.

In What scenerio intercompany and mass- allocation journal can be used in business?

2 Answers   Genisys, Rolta,

---

What are the types of requitions?

6 Answers  

---

Can I increase/decrease the size of value set?

4 Answers  

---

what is unearned revenue and accounting entries of it.

2 Answers   Ernst Young,

---

What is the basic setup of payable?

1 Answers   Deloitte,

---

what is meant by functional specifications involved in po and ap?

1 Answers   Cognizant,

---

What is the use of pay group in AP?

4 Answers  

---

purchasing and payables done at what level? means operating unit level or SOB level?

4 Answers   Cognizant,

---

While assigning the security by book in oracle assets..i am unable ot get the asset org in security profile form.This asset org was already defined in org description window.

0 Answers   TCS,

---

Which interface tables are used for Invoice Import?

5 Answers  

---

SLA usage ans how to define setups?

0 Answers   CNO, IBM,

---

why should we create prorate calender and what is the difference between depreciation calender and prorate calender in fixed assets module?

4 Answers   Wipro,

---