Hello Gals/Guys,
If somebody is kind enough to send me a solution for Petty cash(Imprest system).In Oracl Financials Applications.
I shall be much obliged
Petty Cash Solution(Imprest System)
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Hi
There are three ways of Handling Petty Cash in Oracle Financials
From Payables Module
a) Create a Supplier as Petty Cash and create a Prepayment
invoice amount for 250 USD and pay the amount
Whenever he pays off against that amount and collect invoices
from sundry suppliers ask him to create invoices in the name
of Petty cash Supplier and apply against Prepayment
From Receivables Module
b) Create a Receipt calss and Payment method with clearance method Direct called Petty Cash
Use Miscellaneous Cash Receipt Functionality to book Cash transfer
from Normal Cash to Petty Cash Account
Book all your expenses as Negative Miscellaneous receipt by creating
as many receivables activities as you need
You need to create a Customized report to know the balances
c) From General Ledger
Create Journals in GL for Both Receipts and Payments and enter the
details in Description. In this case also you need to create a
Customized Report for Petty Cash
Hope this helps
Regards
Sivakumar
There are three ways of Handling Petty Cash in Oracle Financials
From Payables Module
a) Create a Supplier as Petty Cash and create a Prepayment
invoice amount for 250 USD and pay the amount
Whenever he pays off against that amount and collect invoices
from sundry suppliers ask him to create invoices in the name
of Petty cash Supplier and apply against Prepayment
From Receivables Module
b) Create a Receipt calss and Payment method with clearance method Direct called Petty Cash
Use Miscellaneous Cash Receipt Functionality to book Cash transfer
from Normal Cash to Petty Cash Account
Book all your expenses as Negative Miscellaneous receipt by creating
as many receivables activities as you need
You need to create a Customized report to know the balances
c) From General Ledger
Create Journals in GL for Both Receipts and Payments and enter the
details in Description. In this case also you need to create a
Customized Report for Petty Cash
Hope this helps
Regards
Sivakumar
-
- Posts: 40
- Joined: Mon Jan 22, 2007 7:47 am
- Location: Saudi Arabia
-
- Posts: 74
- Joined: Tue Jul 10, 2007 10:02 am
- Location: India
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