Answer / skp

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

At the time of Delivery of Materials in to Inventory
----------------------------------------------------
Materials A/c Dr
To Receiving Inventory A/c

Answer / ramkee

When we recive goods:

Receiving inventory a/c dr
to Ap accrual a/c

when delivery to sub inventory:

material a/c dr
to receiving inventory a/c

when we record invoice:

Ap accrual a/c dr
to liability a/c

when we make payment:

liability a/c dr
to cash clearing a/c

when we clear payment in cash management:

cash clearing a/c dr
to cash a/c

Answer / raghu

1. Creation of Requisition – No Accounting entries will come
2. Creation of Purchase Order – No Accounting entries will come
3. Receiving item

Receiving inventory a/c Dr
To Inventory AP Accrual a/c

4. Move the items from receiving point to sub inventory

Inventory a/c Dr
To Receiving Inventory a/c

5. Prepare purchase invoice

AP Accrual a/c Dr
To Liability a/c

6. At the time of payment – if reconciliation is there

Liability Account Dr
To Cash Clearing account

7. At the time of reconciliation

Cash Clearing Account Dr
To Cash Account

Answer / kishore

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 / ravi reddy

Accounting Entries for P2P cycle:

When-ever we are creating Po no entries will be created.
> Receipt : Inventory Receiving Account Dr to AP Accrual Account Cr.

> Invoice : AP Accrual account to Dr to Liability Account Dr.

> Payment : Liability Account Dr to Bank Clearing Account.

> when cleared in Bank : Bank clearing A/c to Bank A/c.

Answer / r dhamu

System will not generate Entries for Requisition, Quotation and Purchase Order.

When we receive the Goods &Receipt

Inventory Receiving A/C Dr
Inventory AP Accural A/C Cr

When Goods Move to Inventory

Inventory Material Value A/C Dr
Inventory Receiving A/C Cr


When we enter the Invoice in AP Module

If we match with PO

AP Accrual A/C Dr
Liability A/C Cr

If we do not match with PO

Charge or Item Expense A/C Dr
Liability A/C Cr

When we issue the Payment for entered Invoice

Liability A/C Dr
Cash Clearing A/C Cr


When Reconcile or Clear the Payment

Cash Clearing A/C Dr
Cash A/C Cr

Answer / raj

1) AT GRN (RECEIVING ITEMS).

Receiving Inventory A/C (Debit)
To Inventory AP Accrual (credit)

2)MOVE THE ITEMS INVENTORY TO SUB INVENTORY.

Material A/C (Debit)
To Receiving inventory (Credit)

3) AT THE TIME OF INVOICE

Inventory Ap Accrual A/C (Debit)
To Supplier Liability (Credit)

4) AT THE TIME OF PAYMENT

liability A/c (Debit)
To Cash clearing A/C (Credit)

5) AT CASH CLEARING IN (CM)

Cash clearing A/c (Debit)
To Cash Or Bank (Credit)



{ YOURS RAJ }

Answer / sagar

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
AP Liability a/c cr

At the time of payment
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

AP Liability a/c dr
to
Cash a/c cr

What are the various statuses of Transactions

1 Answers   Accenture,

what is the difference between Revaluation and Translation? what are the steps in GL?

3 Answers   Syntel,

Can any one tell What is implementation in oracle Applications

2 Answers   Wipro,

dear gurus i would like to know about Flex field qualifiers

4 Answers   Genesis,

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  

Hi all, I'm confused when it comes the financial handling of transactions. What is the difference between an accounting entry and a journal entry in oracle eBS.

2 Answers   Copac,

Is Multi Org. setup is mandetory or optional?

4 Answers  

what is the link between Ar and PO modules? waht is link between ap and po? what is link between gl and po? what is link between gl and ap? what is link between gl and ar? what is link between ap and ar?

1 Answers   Blue Star, KPIT,

Do you receive deposits and/or prepayments?

3 Answers  

Hi, I actually finished my oracle financials R12 course recently and am planning to attend an interview next week...so can any one help me with some of the important interview questions? I am actually keeping 2 yrs fake exp....

1 Answers  

P2p cycle explanations? And entry, if asset item received what is entry?

2 Answers   Deloitte,

What is a Payable Document?

6 Answers   HCL, IBM, Oracle, TCS,