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What is the Entry in Oracle Apps AP,AR,GL for following
Transations
1.One Pipe purchase at Rs.100
2.One Pipe Sales At Rs.150
Which account Afected ,What is the journal entry
What is the entry at respective module
how many modules are afected through above transation
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Answer Posted / psvnaidu
1)Whenever we buy item there is no journal Entry.
2)When we Receive Material into inventory Org
Material Value A/C ---- Dr
Inventory AP Accrual A/C --- Cr
3)When we are going for payment
Charge A/c --- Dr
Liability A/c --- Cr
Liability A/c --- Dr
Cash Clearing A/c --- Cr
4)In Cash Management
Cash Clearing A/c --- Dr
Cash A/c --- Cr
5)When we Making Sale
Cost of Goods A/c --- Dr
Material A/c --- Cr
| Is This Answer Correct ? | 4 Yes | 0 No |
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