Page 1 of 1
order 2 cash
Posted: Wed Oct 21, 2009 4:35 am
by madhusudhan.palla
Hi Friends,
In the ORDER 2 CASH cycle, where will be created first journal entry? what is the entry?
Please give me reply.
Thanks,
Madhusudhan.
Posted: Wed Oct 21, 2009 5:01 am
by admin
Posted: Wed Oct 21, 2009 8:31 am
by madhusudhan.palla
I am not asking for P2P cycle. i want ORDER 2 CASH...
Thanks,
Madhusudhan.
Posted: Wed Oct 21, 2009 10:20 am
by tgs100
It depends on the item you sell. In the case of inventory items, first accounting entry will be in shipment of goods. As soon as shipment is done, the accounting entry will be
COGS - Dr
To Inventory
In the case of Service items, there will not be any shipment, hence AR invoice will be the first transaction to create the accounting entries.
Cheers,
Saravanan
Posted: Wed Oct 21, 2009 10:28 am
by madhusudhan.palla
Thanks sooo munch. Saravanan Sir..