Hi All,
Can anybody suggest me regarding below issue.
PO No. 58198 Need by date 1-Aug-2007 ? Direct Delivery
Received on 1-Aug-2007, Receipt No. 58198, delivered at Customer Sub inventory. Locator is Custrd- A Rufai ? Rufai.
Dr 10209020010 ? Material Account
Cr 10202010120 ? Receiving Inventory Account.
PO No 58196 Need by date 1-Aug-2007 ? Standard Receipt
Received on 1-Aug-2007, Receipt No. 58196, First received and then delivered
Locator is Custrd- A Rufai ? Rufai.
Dr 10209020010 ? Material Account
Cr 10202010120 ? Receiving Inventory Account.
When I did the receipt routing differently also the same one journal entry is being created in Inventory.
What about the first entry? That is:
Dr Receiving Inventory
Cr Inventory AP Accrual Account.
When I match the Receipt to the Invoice, the entry created is:
Dr Inventory AP Accrual
Cr Liability Account.
Thanks in advance
Archana
Journal Entires for Receipts
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Archana...
I am little bit confuse about what are u asking for...
Item Receiving is part of Oracle Purchasing not part of Oracle Inventory...
So when you receive items in receiving...system generats below mentioned entry...in Oracle Purchasing
DR Receiving Inventory A/C
CR Inventory AP Accrual A/C
When Item get passed quality assurance as Accept or rejects., system will generates following accounting entry...in Oracle INV
DR Material Inventory A/C
CR Receiving Inventory A/C
On matching invoices with PO in Oracle AP, system generates following accounting entry
DR Inventory AP Accrual A/C
CR Supplier's Liability A/C
If item gets rejected, system will generates reverse accounting entry as follows.
DR Inventory Accrual A/C
CR Inventory Receiving A/C
Hope that clarify your situation...
I am little bit confuse about what are u asking for...
Item Receiving is part of Oracle Purchasing not part of Oracle Inventory...
So when you receive items in receiving...system generats below mentioned entry...in Oracle Purchasing
DR Receiving Inventory A/C
CR Inventory AP Accrual A/C
When Item get passed quality assurance as Accept or rejects., system will generates following accounting entry...in Oracle INV
DR Material Inventory A/C
CR Receiving Inventory A/C
On matching invoices with PO in Oracle AP, system generates following accounting entry
DR Inventory AP Accrual A/C
CR Supplier's Liability A/C
If item gets rejected, system will generates reverse accounting entry as follows.
DR Inventory Accrual A/C
CR Inventory Receiving A/C
Hope that clarify your situation...
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