Interested to Buy Any Domain ? << Click Here >> for more details...
I paid 10,000 Rs in advance to the employee for meeting his
expenses. The employee met only 5000 expenses and the
remaining 5000 he has to retern to the company. How will
you define it.
- 4 Answers
- 12316 Views
- Sonata, I also Faced
- E-Mail Answers
Answer Posted / anumani
HI,
While creating invoice of prepayment,
Prepayment A\c 10000
To liability A\c 10000.
Payment of the prepayment,
Liability A\c 10000
To bank |cash A\c 10000
While Creating expense invoice,
Expense|charge A\c 5000
To Liability A\c 5000
While Matching the prepayment with the expense invoice,
Expense|charge A\c DR 5000
To Liability A\c 5000
Liability A\c 5000
To prepayment A\c 5000.
NOTE:Here prepayment account still showing the balance of
5000,So we have to get back that remaining amount from the
employee.
1.Create one standard invoice to the supplier and match the
reaming amount to that standard invoice so the remaining
amount would be nullified in the prepayment account.
2.Pass a reverse invoice for the prepayment entry like
Liability a\c 5000
Prepayment a\c 5000.
| Is This Answer Correct ? | 7 Yes | 23 No |
Post New Answer View All Answers
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.
Can Adjustments be imported?
What is the use of hr: user type, while configure multiorg?
What kind of budgets have you worked on?
What is the use of mo: security profile, while configure multiorg?
what is the difference between before pages trigger and after parameter trigger in reports ?
Please post the setups required to approve the payable invoice in AP.
Difference between header level tax calculation and line level tax calculation
HI, once we create the standard invoice then we can get journal entry item expense a/c-dr to liability a.c then item it will reflect through inventory, but liability a/c . it will reflect from GL , it is possible .
can any one tell me what exactly functional consultant do on daily basis? client requirements?
How will account an advance of Rs.10000/- which is a permanent prepayment, can I make payment for this?
Recurring Problem Posting i have Journals for sep 2018 that i approved but they are not available to post even though the period is open in Oracle R12 Issues
What is the use of operating unit, while configure multiorg?
What do you mean by Category Set ? and what is its Relevance ?
I have created an invoice and made the payment in Accounts payable. Now the payment status is Negotiable and accounting status is processed. I reconciled the transaction in Cash Mgmt, The status changed from negotiable to Reconciled in CM. I checked the payment status for the invoice in payment window(AP), the payment status changed to RECONCILED UNACCOUNTED i.e correct but the accounting status is remain processed which is not the correct. I hope the transaction will be correct if the accounting status would have changed to PERTIAL . Please suggest any solution for the above query.
