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Accounting Entries Apps

The document outlines the accounting entries made in Oracle for purchase-to-pay (P2P) and order-to-cash (O2C) processes. For P2P, it describes the entries made for purchase orders, receipts, and payments. For receipts, it differs based on the item type - inventory, expense, or asset. For payables, entries are made for invoices and payments. For O2C, it describes the entries made for sales orders, pick/ship confirmations, receivables, and cash receipts.

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Aqeel Khan
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477 views2 pages

Accounting Entries Apps

The document outlines the accounting entries made in Oracle for purchase-to-pay (P2P) and order-to-cash (O2C) processes. For P2P, it describes the entries made for purchase orders, receipts, and payments. For receipts, it differs based on the item type - inventory, expense, or asset. For payables, entries are made for invoices and payments. For O2C, it describes the entries made for sales orders, pick/ship confirmations, receivables, and cash receipts.

Uploaded by

Aqeel Khan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Oracle P2P Accounting entries

In Oracle purchasing 3 different events occur


1. Enter Purchase Order: 
    No accounting takes place
2. Enter a Receipt:
    For Inventory, Asset and Expense Items:
        Dr: Inventory Receiving A/c
        Cr: Accrual A/c
3.Receiving Transaction: 
   Based on type of item here accounting entry differs
   Inventory Item:
        Dr: Inventory Valuation A/c
        Cr: Inventory Receiving A/c
   Expense Item:
        Dr: Expense A/c
        Cr: Inventory Receiving A/c
  Asset Item:
        Dr: Asset Clearing A/c
        Cr: Inventory Receiving A/c

 Oracle Payable:
 In payable 3 events occur
1. Enter Invoice:
        Dr: Accrual A/c
        Cr: Liability A/c

2.Payment against Invoice:


        Dr: Liability A/c
        Cr: Bank clearing A/c

3.Clearing (Cash Management):


        Dr: Bank clearing A/c
        Cr: Bank A/c

Oracle P2P Accounting entries

Incase below type of items one more accouting entry happens in Oracle
Inventory Item: Item issued to Dept.
       Dr: Expense A/c
       Cr: Inventory valuation

Asset Item: Asset is capitalized


       Dr: Asset A/c
       Cr: Asset clearing A/c
Order to Cash (O2C)

 Sales order creation – No entries


 Pick release:
Inventory Stage A/c…………………Debit
Inventory Finished goods a/c……..Credit
 Ship confirm:
Cogs A/c ……………………………Debit
Inventory Organization a/c………Credit
 Receviable:
Receviable A/c………………………Debit
Revenue A/c………………………Credit
Tax ………………..…………………Credit
Freight…………..….……………….Credit
 Cash:
Cash A/c Dr…………………………Debit
Receivable A/c……………………….Credit

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