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P 2 P CYCLE AND ENTRIES
Posted: Thu Sep 11, 2008 9:12 am
by k_amjad
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
Posted: Thu Sep 11, 2008 1:37 pm
by eshwar123e
Posted: Thu Sep 11, 2008 1:37 pm
by malick
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.
Posted: Fri Sep 12, 2008 4:14 am
by admin
Thanks malick for your inputs.
Posted: Sun Sep 21, 2008 2:47 am
by k_amjad
very very thanks malick
this is very usefull for me
once again thank
amjad
Posted: Wed Nov 19, 2008 8:38 am
by k_amjad
pls any one explaine me in invoice
we are getting AP accual a/c
and charge a/c
that entries where will define
and
will matching po it will getting ap accual a/c
and
without po it getting charge a/c
pls explaine me
it is usefull for me
advance thanks
amjad