o2c, p2p complete accounting entries

[james]

hi ..
can anyone send d detail of o2c and p2p accounting entries ?
ultimately all the other accounts get knocked off and only 2 final accounts should remain ....... material and bank accounts

[admin]

topic.asp?TOPIC_ID=5799

[amol_pach]

Receipt Dr Cr
Receiving A/c 100 At PO Price
Inventory AP Accrual A/c 100 At PO Price

Delivery
Raw Material Sub Inventory A/c 80 At Standard Cost
PPV A/c 20 Diff between PO ? Stnd cost
Receiving A/c 100 At PO Price

Invoice matching with PO
AP Accrual Liability A/c 100 At PO Price
Invoice Price Variance A/c 10 Diff between Invoice - PO
AP Liability A/c 110 AT INV Price

On making Payment
Liability A/c 110 At Invoice Price
Cash 110 At Invoice Price