Wednesday, 30 July 2014

Accounting Entries in Procure to Pay (P2P) cycle



A quick review on accounting entries in Procure to Pay cycle.

    Purchase Requisition creation: No entry
    Purchase Order creation: No entry
    Inventory Receipt:
    Inventory A/c…………….Debit
    AP Accrual A/C………Credit(This A/c We are giving in Financial Option)
    At the time of Matching the Invoice with Purchase Order
    AP Accrual A/c………….Debit
    Supplier A/c…………..Credit
    At the time of making payment to supplier
    Supplier A/C…………… Debit
    Bank A/c…………….Credit

1 comment:

  1. Regards
    Sridevi Koduru (Senior Oracle Apps Trainer Oracleappstechnical.com)
    LinkedIn profile - https://in.linkedin.com/in/sridevi-koduru-9b876a8b
    Please Contact for One to One Online Training on Oracle Apps Technical, Financials, SCM, Oracle Manufacturing, BI Publisher, OAF, ADF, SQL, PL/SQL, D2K at sridevikoduru@oracleappstechnical.com | +91 - 9581017828.

    ReplyDelete