HAI EVERY ONE
I WANT P 2 P CYCLE AND JOURNAL ENTRIES OF ALL POSSITION
PLS HELP ME ANY ONE \
THANKS AND REGARDS
AMJAD
amjadkhan003@gmail.com
P 2 P CYCLE AND ENTRIES
-
eshwar123e
- Posts: 14
- Joined: Mon Jul 07, 2008 4:13 am
- Location: USA
hai
refer to the following websites:
www.cnubandi.blogspot.com
www.apps2fusion.com
www.sanjitanand.com
refer to the following websites:
www.cnubandi.blogspot.com
www.apps2fusion.com
www.sanjitanand.com
Hi
Enter the Below given Account details in the required screens...
Invoice Price Variance Account : Where to define --> Define in Organization Parameters
Inventory AP Accrual Account : Where to define --> Define in Organization Parameters
Expense AP Accrual Account : Define in Purchasing Options
Purchase Price Variance Account is used for Standard Cost and PPV is not used for Average Costing...
The same should be defined in : Define Organization Parameters
Purchase Order receipt to the Receiving Inspection Location. When the goods are received into Inspection Location.
Receiving inspection account Dr.
Inventory A/P Accrual account Cr.
(@ PO price )
(for receiving Inventory Items)
Receiving inspection account Dr.
Expense A/P Accrual account Cr.
(@ PO price )
(for receiving expense items)
Delivery from Receiving Inspection Under Std Costing
If the standard cost is greater than purchase order price then the PPV is favorable and Apps records this expense as a credit (negative expense)
Sub-inventory accounts Dr.
Receiving Inspection account Cr.
Purchase Price Variance Account (Negative Expense)Cr.
If the standard cost is less than the PO price then the variance is unfavorable and Apps record this as a debit (positive expense)
Sub-inventory accounts Dr.
Purchase Price Variance Account (Positive Expense) Dr.
Receiving Inspection account Cr.
Return to Vendor from Receiving Inspection at Standard Cost.
For Returning Inventory Items....
Inventory A/P Accrual account Dr.
Receiving inspection account Cr.
Invoice Booking at Standard Costing
Inventory AP Accrual account Dr.
AP liability account Cr
Payment of the Invoices booked
AP liability account Dr.
Bank account Cr.
Enter the Below given Account details in the required screens...
Invoice Price Variance Account : Where to define --> Define in Organization Parameters
Inventory AP Accrual Account : Where to define --> Define in Organization Parameters
Expense AP Accrual Account : Define in Purchasing Options
Purchase Price Variance Account is used for Standard Cost and PPV is not used for Average Costing...
The same should be defined in : Define Organization Parameters
Purchase Order receipt to the Receiving Inspection Location. When the goods are received into Inspection Location.
Receiving inspection account Dr.
Inventory A/P Accrual account Cr.
(@ PO price )
(for receiving Inventory Items)
Receiving inspection account Dr.
Expense A/P Accrual account Cr.
(@ PO price )
(for receiving expense items)
Delivery from Receiving Inspection Under Std Costing
If the standard cost is greater than purchase order price then the PPV is favorable and Apps records this expense as a credit (negative expense)
Sub-inventory accounts Dr.
Receiving Inspection account Cr.
Purchase Price Variance Account (Negative Expense)Cr.
If the standard cost is less than the PO price then the variance is unfavorable and Apps record this as a debit (positive expense)
Sub-inventory accounts Dr.
Purchase Price Variance Account (Positive Expense) Dr.
Receiving Inspection account Cr.
Return to Vendor from Receiving Inspection at Standard Cost.
For Returning Inventory Items....
Inventory A/P Accrual account Dr.
Receiving inspection account Cr.
Invoice Booking at Standard Costing
Inventory AP Accrual account Dr.
AP liability account Cr
Payment of the Invoices booked
AP liability account Dr.
Bank account Cr.
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