Answer Posted / tgs100
Till invoice is created, liability is recorded in Exp AP Accrual account or Inv AP Accrual Account. When invoice is matched against a PO/Receipt, AP Accrual is relieved and Liability will get accrued in Payables. Once invoice is paid, liability is relieved.
Hence in invoice, the accounting entries would be
AP Accrual A/C - Dr (Expense A/C in case of Expense Reports)
Liability A/C - Cr
During Payment,
Liability A/C - Dr
Bank/Cash A/C - Cr
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
In Subinventories Form, how to enable the Locator Control. A message displayed when changing the drop down list "FRM-40200: Field is protected against update.
Re: what are the Issue that we face in Gl,PO and AP while Supporting
SLA usage ans how to define setups?
difference between primary ledger and secondary ledger in r12
What is the Process of Reconciliation Between AP to GL
What is the entry in oracle apps ap,ar,gl for following transations1.one pipe purchase at rs.1002.one pipe sales at rs.150
Charge Back Setups ?
could you please post some work around that any body have done in the financial modules.
I am created credit memo in at but while trying to complete it showing error message-hz_party_location
How will account an advance of Rs.10000/- which is a permanent prepayment, can I make payment for this?
We are running Oracle EBS 11i and yesterday whilst doing my month-end I forgot to select "calculate finance charge" on form ARXSUPST AR Print Statement run. I am struggling to get to My Oracle and was hoping someone out there might have experienced or heard of a similar problem. What are my options to rectify this situation... I look forward to you inputs..... Thank you Regards Salie
What is the use of operating unit, while configure multiorg?
How do u bridge the gaps in functional understanding of AP,GL,FA. explain with some live examples.
I have a requirement where during the consolidation into USD (from GBP books) I want use two different exchange rates for two consolidations. Child SOB is same but the Parent SOB's are different. How can this be done in Oracle Financials? Answers will be Appreciable. Thank You.
explain your project plan with exam pal? i am preparing inter view .............
