Answer / poonam

Accounting Entries for AR

Once the Order is shipped then Material account will be
credit and COGS Account will be debit.
At the time of Invoice creation
Revenue account will be credit and receivable account will
be debit.
At the time of receipt creation.
Receivable account will be credit and Bank payment account
will be debit

Answer / kathir

For Order to Cash Entries.


Step 1: Sales order creation - No entries


Step 2: Pick release : Inventory Stage A/c Dr
To Inventory Finished goods a/c

Step 3: Ship confirm : Cogs A/c Dr
Inventory Organization A/c.


Step 4: In Receviable : Receviable A/c dr
To Revenue A/c
To Tax
To Freight

Step 5: Cash : Cash A/c Dr
Receivable A/c cr

Answer / srinivas k

Materal acounts
Cost of goods sold account
revenue account

Answer / pradeep.h

For Order to Cash Entries.


Step 1: Sales order creation - No entries


Step 2: Pick release : Inventory Stage A/c Dr
To Inventory Finished goods a/c

Step 3: Ship confirm : Cogs A/c Dr
Inventory Organization A/c.


Step 4: In Receviable : Receviable A/c dr
To Revenue A/c
To Tax
To Freight
step 5: When the reciept is not applied to the transaction

Unbilled receivabels a/c dr
to receivables a/c cr

Step 6: Cash : Cash A/c Dr
Receivable A/c cr

Answer / anand

1.Sales Order Creation:- NO ENTRY

2. Release of Finished Inventory:-
Finished Goods A/c Dr
To WIP (work in progress) goods A/c


3. Shipping:-
Cost of Goods Sold A/c Dr
To Finished Goods A/c

4. Invoice:-
Customer A/c Dr
To Sales A/c

5. Payment:-
Bank A/c Dr
To customer A/c

Answer / bhargav athuluri

When you ship the goods

Cost of goods sold A/C Dr
TO Inventory A/C
When you run the auto invoice program

Receivables A/C Dr
To Revenue A/C
When you receive cash

Cash A/C Dr
TO Cash clearing A/C

Answer / anil

1. Order Created - No entries

2. Order Pick Released - Inventory Stage A/c Dr
Inventory A/C Cr

3. Order Ship Confirmed - COG sold A/C Dr
Inventory Stage A/c Cr

3. Transaction Created - Receivable Alc Dr
(Receivables) Revenue A/c,Tax A/C, Freight A/c DR

4. Receipt of Payment - Cash a/c Dr
Receivable A/c Cr

Answer / aruna

When ship the goods
COGS a/c Dr
To Inventory a/c
At the time of Transaction
Receivables a/c Dr
To Revenue a/c
At the time of receipt
Cash clearing a/c
To receivables a/c
At the time of reconciliation
Cash a/c Dr
Cash clearing a/c

what is the importance of below three profile options? 1.HR Business group 2.HR User type 3.HR Security

3 Answers   Genesis,

Use of Future dated payments?

4 Answers  

what is invoice variance in ap

2 Answers   Accenture,

what is recoverable cost, NBV, salvage value?

1 Answers  

What all elements is set for the Responsibilities ?

3 Answers   IBM,

What is the procedure for requisition import?

1 Answers   Cap Gemini,

How would you transfer funds from one bank to another bank in oralce apps? And in which module you can do this?

3 Answers  

what is the difference between debit memo and credit memo on oracle AR

2 Answers  

Why should we run "Replicate seed data" program??

6 Answers  

you have create a purchase order, it is approved also. now you want to change in the purchase order, hoe can you do that?

2 Answers   Conacent,

What are the mandatory setups in AP?

13 Answers  

What are the sources of invoice?

1 Answers   Cap Gemini,