At the time of receipt-Receiving inventory a/c dr To Inventory A

What are the Accounting Entries in P2P.in Oracle Financial
terminology ?

Question Posted / arvind n

6 Answers
17895 Views
I also Faced
E-Mail Answers

Answer Posted / arvind n

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

Is This Answer Correct ?

9 Yes

9 No

Post New Answer View All Answers

Please Help Members By Posting Answers For Below Questions

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.

2858

Re: While you are in implemenation what are u faced the issues ? tell me what some ap & GL issues?

2382

What are the types of setups in apps inventory module

2442

What is Difference between Auto Copy Journal and recurring journal?

1807

Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.

3029

SLA usage ans how to define setups?

2713

How do u bridge the gaps in functional understanding of AP,GL,FA. explain with some live examples.

2568

I am traying to access oracle functiona/ technical interview questions asked by the consultancy "infosys", but i cant find anything when i go the to the links, i need the oracle erp techno functiona questions pls, Thanks, in advance Tovia

2449

What is the use of gl set of books name, while configure multiorg?

1103

What is the Invoicing System in Oracle R12

1417

Can Adjustments be imported?

2140

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.

5316

Explain Customization process?

1959

difference between 11i&r12

1894

What is difference between primary and secondary ledger

1143