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P2P
Posted: Mon Jun 18, 2012 1:52 am
by nrao1981
Hi all
what is the functional impact if the item is expense item and if the item is inventory item in P2P process.
can any one explain the process in detail.
Thanks in advance.
Posted: Tue Jun 19, 2012 12:07 am
by nrao1981
[quote]Hi all
what is the functional impact if the item is expense item and if the item is inventory item in P2P process.
can any one explain the process in detail.
Thanks in advance.
<i><div align="right">Originally posted by nrao1981
Posted: Tue Jun 19, 2012 12:20 am
by admin
Expense Item/service: It will not go to stock/inventory.
Inventory Item: First it will go to Inventory and then from there you can issue.
Accounting will be different for both. tks
Posted: Tue Jun 26, 2012 6:40 am
by atiferpconsultant
i am talking about the financial impact, if the item is expense then at the time of PO receipt the net financial impact will be the following (Provided the destination type is expense):
Expense Account Dr.
Expense AP Accrual Account Cr.
and at the time of Invoice matching, following will be the entry:
Expense AP accrual Account Dr.
Supplier/Liability Account Cr.
feel free to contact if any further information is required.