Answer / mahesh

Once the Invoice is Created and Validated in Payables , the
firm becomes liable to pay to the Supplier.

Answer / ph

I have different views that Mahesh. Liability to pay supplier, arises when the material is received in the factory or premises. In this case, we have full control over the material. Its irrelevant to book the liability in the books, as this is just a formality of accounting. For India, once the material is received in manufacturing organization, CENVAT can be claimed on the material received. Hence, by law, the liability to pay to supplier arises once the material is received. (SUBJECT TO FOB SHIPMENTS, WHEN THE LIABILITY STARTS WHEN THE MATERIAL IS DISPACTED BY THE SUPPLIER). Best judge is the Inventory AP Accrual Account, which is control account to analyse , whether the Payables Invoice is booked against the supplier or not.

Now its upot the shipment terms , when the liability occurs.

In oracle apps, the liability occurs when Invoice is validated, means, the liability account defined in vendor site is charged in sub ledger.

So, it doesn't mean that only if the invoice is validated, supplier liability is booked. Its basically at the time of receiving, when AP Accrual is accounted at the time of receiving in Purchasing module.

Answer / tangudu arun kumar

The Liability to the supplier arises at the time of
Receiving since Invoice is not received we book the
liablity as ' APInventory Accrual Account'.Once the Invoice
is create then the Original liability may arise.

difference between 11i&r12

0 Answers  

---

Difference between header level tax calculation and line level tax calculation?

2 Answers  

---

Where we r defining the payment limits. ex:As per my business requirement business have a payment limit is 10000.Where we defined this type of limits.

2 Answers   Oracle,

---

what us auto accounting rule?

1 Answers   Arihant,

---

you have received excess money from the customer. now you want to refund the excess money. what is the set up for that?

4 Answers   Conacent,

---

If you are implementing Payables and Receviables in R12?................. What type of data do you select to migrate it from legacy systems?

2 Answers   Ernst Young,

---

HI, waht is the difference between security rule v/s Balance segmetn values in R12. what is the exact purporse of Balance segment vlaues? expalin with an example.

3 Answers   Genpact,

---

How to Reconciliation AP to CM ? How to Reconciliation AR to CM ?

0 Answers   TCS,

---

difference between primary ledger and secondary ledger in r12

0 Answers   NTT Data, Oracle,

---

What are the types of requitions?

6 Answers  

---

Types of Prepayments? And difference between them?

3 Answers  

---

What is the use of hr: user type, while configure multiorg?

0 Answers  

---