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What are the journal entries in O2C Cycle.
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Answer Posted / venugopal
Order Management
There are no accounting entries generated in OM
Inventory
When you ship the Goods
Dr Cost of Goods sold (picked up from the Item)
Cr Inventory (picked up from Subinventory)
Receivables
When you run the Autoinvoice Program and create an Invoice
Dr Receivables
Cr Revenue
When you Receive Cash
Dr Cash/ Bank Account
Cr Cash Clearing Account
When you receive the payment
Dr Cash Clearing Account
Cr Receivables A/c
| Is This Answer Correct ? | 27 Yes | 6 No |
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