http://realworldoracleapps.blogspot.com/
http://www.krishanu.blogspot.com/
http://oraclefinancialsrel12.blogspot.com/ (Links to other sites as well)
http://davidhaimes.wordpress.com/ (FSAH vs AGIS etc)
http://garethroberts.blogspot.com/
http://www.aboutoracleapps.com/ (Interview Questions)
www.rchath.com (good site on 11i issues archieve including PA)
http://oracle.anilpassi.com/ (Good Site)
www.appsbi.com
www.oracleappshub.com
http://www.oracleappshub.com/category/release12/oracle-e-business-tax/ (EB Tax)
http://www.oracleappshub.com/category/release12/subledger-accounting/ (SLA)
http://www.oracleappshub.com/category/asset/ (FA Good Converage)
http://www.oracleappshub.com/category/jumpstart/basic-accounting/ (Basic Accounting)
http://www.oracleappsblog.com/
http://www.aboutoracleapps.com/2007/07/cm-concepts-1.html
http://oracleebusinesssuite.wordpress.com/2007/07/10/purchase-order-and-invoice-matching/
http://www.orafaq.com/forum/f/26/0/
http://oracle.ittoolbox.com/groups/technical-functional/oracle-apps-l/po-invoice-matching-1519792 http://www.oraclecommunity.net/ http://www.erpschools.com/Apps/index.aspx (P2P/O2C/Position Based Hirerchy) http://implementationtips.blogspot.com/2008/01/different-stages-in-oracle-application.html (Things Never Tought in Class Room) http://itsafeature.com/erp-oracle-applications-projects-2/
http://itsafeature.com/sample-operational-analysis-questionnaires/
http://erpstuff.com/
https://metalink.oracle.com/
http://knoworacle.wordpress.com/2009/06/05/overview-oracle-projects/
Projects:
https://communities.oracle.com/portal/server.pt/community/support/219
http://www.projectp.com/forum/viewforum.php?f=3 (hi.frend)
http://www.projectsaccounting.com/
http://download.oracle.com/docs/cd/A60725_05/html/comnls/us/pa/prodtop.htm (Online Project Help) http://www.timeanddate.com/worldclock/personal.html (Time and Date)
http://www.forex-rates.biz/GBP/INR/ (Forex)
http://career-assessments.blogspot.com/2008/01/oracle-certifications-aspirants.html
https://www.acrobat.com/?app=share&si=1 (Meeting - mvnrazu)
Instances:
http://es0095.oracle.com/OA_HTML/AppsLocalLogin.jsp
http://www.solutionbeacon.com/tools_r12vision.htm (RR1069) (RM7664 11i)
http://demo.appshosting.com/OA_HTML/AppsLocalLogin.jsp (rajuram -1-6)
Monday, July 20, 2009
Friday, October 3, 2008
Journal Entries
ACCOUNTS PAYABLES
Material Receipt:
1. On entry of PO:
No accounting impact.
2. Material receipt
Receiving accrual Dr
AP accrual Cr.
3. On completion of inspection
Inventory Dr.
Receiving accrual Cr.
4. On entering invoice in AP and matching it to receipt
AP Accrual Dr.
Accounts payable Cr.
5. On payment
Accounts payable Dr.
Cash clearing Cr. (if clearing is enabled)
Cash Cr. (if clearing is not enabled)
6. On clearing
Cash Clearing Dr.
Cash Cr.
Debit and Credit Memo :
Debit Memo/ Credit Memo:
Accounts Payable A/c …Dr.
To Expense A/c
Standard Invoice:
AP Accrual A/c …Dr
To Accounts Payable A/c
Payment against Invoices and DM/CM:
Accounts Payable A/c …Dr
To Cash Clearing A/c
Reconciliation Entry in Cash Management:
Cash Clearing A/c Dr
To Cash A/c
Prepayment to Supplier/Employees :
Prepayment Invoice:
Prepaid Expense A/c ...Dr
To Accounts Payable A/c
Payment against Invoice
Accounts Payable A/c …Dr
To Cash Clearing Ac
Reconciliation in Cash Management:
Cash Clearing A/c Dr
To Cash A/c
Standard Invoice:
AP Accrual A/c Dr
To Accounts Payable A/c
Apply payment against Invoices:
Accounts Payable A/c …Dr
To Prepaid Expenses
Petty Cashier Transactions:
Prepayment Invoices:
Prepayment Expenses A/c …Dr
To Petty Cashier Liability A/c
Payment against the invoice:
Petty cashier Liability A/c …Dr
To Cash A/c
Expense Report:
Expense A/c …Dr
To Petty Cashier Liability A/c
Apply payment Against Invoices :
Petty Cashier Liability A/c …Dr
To Prepayment Expenses A/c
*** FIXED ASSETS ****
Normal Addition of assets :
Purchasing:
1. When Asset Item is received:-
Receiving Inventory Account Dr
To Inventory A/P Accrual Account Cr
2. When Item is Delivered to Asset:-
Asset Clearing Account Dr
To Receiving Inventory Account Cr
Payables
1. When Invoice for Asset Item is created :
Inventory A/P Accrual Account Dr
To Account Payable Liability Account Cr
2. When Invoice is paid in Accounts Payable:-
Account Payable Liability Account Dr
To Bank Account Cr
Entry in Assets:
Assets A/c ...Dr.
To Asset Clearing A/c. Cr.
Depreciation Expense:
Depreciation A/c Dr.
Depreciation Adjustment A/c …Dr
To Accumulative Depreciation
Merge Two Assets:
Assets ( A+ B) ….Dr
To Asset Clearing A/c (Cost of Asset A)
To Asset Clearing A/c (Cost of Asset B)
CIP Assets:
Payables:
CIP Clearing A/c Dr
To Accounts payable A/c
When we add an asset as CIP assets, then we will have the entry as:
Assets:
CIP Cost A/c …DR
To CIP Clearing A/c
For these types of assets, we will not charge depreciation until and unless we capitalize the assets.
Capitalization will be in two types:
1. Capitalize the asset in the same period in which the asset is added to the system
2. Capitalize the asset other than the same period, in which the asset is added to the system.
Capitalized in the same period:
In payable:
CIP Clearing A/c …Dr
To Liability account
Asset A/c …Dr
To CIP Clearing
Capitalized after closing the period:
Asset A/c …Dr.
To CIP Clearing
When we adjusted the regular asset to the CIP Asset:
CIP Cost A/c …Dr.
To Asset Clearing A/c
Retirement of Asset:
Receivables:
Receivable A/c ...Dr
To Proceeds of sales A/c
Payables:
Asset Clearing [Cost of Removable] A/c
To payable A/c
Asset:
Accumulated Depreciation …Dr.
Proceeds of sales Clearing A/c …Dr.
Cost of Removable Gain A/c …Dr.
Revaluation Reserve A./c …Dr
Net Book Value Retired Gain …Dr.
To Asset Cost A/c
To Proceeds of Sale Gain A/c
To Cost of Removable Gain A/c
To Revaluation Reserve Retired Gain A/c
Normal sale once completed the life of asset
Sale:
Receivables A/c …Dr.
To Proceeds for Sale A/c (Revenue)
Cost of removable:
Asset Clearing A/c (Cost of Removable) …Dr.
To Liability A/c
Asset:
We sold the asset with profit and the incurred the cost of removable expenses:
Accumulated Depreciation A/c …Dr
Cost of Removable (Expense) …Dr
Sales Proceedings (Sale) …Dr.
To Asset Cost A/c
To Gain on sale of asset
To Asset Clearing A/c (Cost of removable)
We sold the asset with loss :
Accumulated Depreciation …Dr
Sale Proceedings …Dr
Loss on sale of Assets …Dr
To Asset Cost A/c
Scrap Sale:
Accumulated Depreciation A/c …Dr
Cost of Removable (Expense) …Dr
Sales Proceedings (Sale) …Dr.
To Asset Cost A/c
To Gain on sale of asset
To Asset Clearing A/c (Cost of removable)
We sold the asset (Scrap) with loss
Accumulated Depreciation …Dr
Sale Proceedings …Dr
Loss on sale of Assets …Dr
To Asset Cost A/c
Added additional features when asset value is Zero:
Asset Clearing account …Dr.
To Liability A/c
Asset Cost A/c …Dr.
To Asset Clearing Account
Depreciation A/c Dr.
Depreciation Adjustment A/c …Dr
To Accumulative Depreciation
*** ACCOUNTS RECEIVABLES ****
For Invoices and Debit Memos
Receivable A/c …Dr.
To Revenue A/c
For Invoice adjustment which increases the invoice amount
Receivables A/c …Dr
To Adjustment A/c
For Invoice adjustment which decreases the invoice amount
Adjustment A/c …Dr
To Receivable A/c
For Deposit:
When you enter an Invoice :
Receivables (Deposit) A/c …Dr.
To Unearned Revenue (Liability Account)
When you enter an Invoice against the Deposit
Receivables (Invoice) A/c …Dr.
To Revenue A/c
Unearned Revenue A/c …Dr.
To Receivables (Invoice) A/c
When cash is received against the Deposit
Cash A/c …Dr
To Receivables (Deposit) A/c
Goods are issued with a Guarantee:
When you enter a Guarantee:
Unbilled Receivable A/c …Dr.
To Unearned Revenue A/c
When you enter an invoice as against the Deposit:
Receivables (Invoice) A/c ..Dr.
To Revenue
Unearned Revenue A/c …Dr
To Unbilled Receivable (Invoice) A/c
Bills in Advance :
Receivable A/c ..Dr
To unearned Revenue
Unearned revenue A/c …Dr.
To Revenue A/c
Bills in arrears:
Unbilled receivable A/c …Dr
To Revenue A/c
Receivables A/c …Dr
To Unbilled Receivables A/c
Apply Receipt to Invoice :
Cash A/c …Dr
To Receivable A/c (Invoice)
Standard Reversal :
Receivable (Invoice) A/c …Dr
To Cash A/c
Debit Memo Reversal :
Reversal (Debit Memo) A/c …Dr
To Cash A/c
Standard Receipt :
Cash A/c …Dr
To Receivables/ Un applied/ on-Account/ Unidentified
Receipt with discount based on payment Terms:
Cash A/c …Dr.
To Receivable A/c
Earned/Unearned Discounts A/c …Dr.
To Receivables A/c
Receipts and Adjustments :
Cash A/c …Dr.
To Receivable A/c
Write-Off A/c …Dr.
To Receivables A/c
Receipt that requires Remittance:
Enter Receipt:
Confirmation …Dr
To Receivable A/c
Remit Receipt :
Remittance …Dr
To Confirmation
Clear Receipt
Cash A/c …Dr
To Remittance
Apply Receipt to Invoice :
Cash A/c …Dr
To Receivable A/c (Invoice)
Standard Reversal :
Receivable (Invoice) A/c …Dr
To Cash A/c
Debit Memo Reversal :
Reversal (Debit Memo) A/c …Dr
To Cash A/c
Standard Receipt :
Cash A/c …Dr
To Receivables/ Un applied/ on-Account/ Unidentified
Receipt with discount based on payment Terms:
Cash A/c …Dr.
To Receivable A/c
Earned/Unearned Discounts A/c …Dr.
To Receivables A/c
Receipts and Adjustments :
Cash A/c …Dr.
To Receivable A/c
Write-Off A/c …Dr.
To Receivables A/c
Receipt that requires Remittance:
Enter Receipt:
Confirmation …Dr
To Receivable A/c
Remit Receipt :
Remittance …Dr
To Confirmation
Clear Receipt
Cash A/c …Dr
To Remittance
Material Receipt:
1. On entry of PO:
No accounting impact.
2. Material receipt
Receiving accrual Dr
AP accrual Cr.
3. On completion of inspection
Inventory Dr.
Receiving accrual Cr.
4. On entering invoice in AP and matching it to receipt
AP Accrual Dr.
Accounts payable Cr.
5. On payment
Accounts payable Dr.
Cash clearing Cr. (if clearing is enabled)
Cash Cr. (if clearing is not enabled)
6. On clearing
Cash Clearing Dr.
Cash Cr.
Debit and Credit Memo :
Debit Memo/ Credit Memo:
Accounts Payable A/c …Dr.
To Expense A/c
Standard Invoice:
AP Accrual A/c …Dr
To Accounts Payable A/c
Payment against Invoices and DM/CM:
Accounts Payable A/c …Dr
To Cash Clearing A/c
Reconciliation Entry in Cash Management:
Cash Clearing A/c Dr
To Cash A/c
Prepayment to Supplier/Employees :
Prepayment Invoice:
Prepaid Expense A/c ...Dr
To Accounts Payable A/c
Payment against Invoice
Accounts Payable A/c …Dr
To Cash Clearing Ac
Reconciliation in Cash Management:
Cash Clearing A/c Dr
To Cash A/c
Standard Invoice:
AP Accrual A/c Dr
To Accounts Payable A/c
Apply payment against Invoices:
Accounts Payable A/c …Dr
To Prepaid Expenses
Petty Cashier Transactions:
Prepayment Invoices:
Prepayment Expenses A/c …Dr
To Petty Cashier Liability A/c
Payment against the invoice:
Petty cashier Liability A/c …Dr
To Cash A/c
Expense Report:
Expense A/c …Dr
To Petty Cashier Liability A/c
Apply payment Against Invoices :
Petty Cashier Liability A/c …Dr
To Prepayment Expenses A/c
*** FIXED ASSETS ****
Normal Addition of assets :
Purchasing:
1. When Asset Item is received:-
Receiving Inventory Account Dr
To Inventory A/P Accrual Account Cr
2. When Item is Delivered to Asset:-
Asset Clearing Account Dr
To Receiving Inventory Account Cr
Payables
1. When Invoice for Asset Item is created :
Inventory A/P Accrual Account Dr
To Account Payable Liability Account Cr
2. When Invoice is paid in Accounts Payable:-
Account Payable Liability Account Dr
To Bank Account Cr
Entry in Assets:
Assets A/c ...Dr.
To Asset Clearing A/c. Cr.
Depreciation Expense:
Depreciation A/c Dr.
Depreciation Adjustment A/c …Dr
To Accumulative Depreciation
Merge Two Assets:
Assets ( A+ B) ….Dr
To Asset Clearing A/c (Cost of Asset A)
To Asset Clearing A/c (Cost of Asset B)
CIP Assets:
Payables:
CIP Clearing A/c Dr
To Accounts payable A/c
When we add an asset as CIP assets, then we will have the entry as:
Assets:
CIP Cost A/c …DR
To CIP Clearing A/c
For these types of assets, we will not charge depreciation until and unless we capitalize the assets.
Capitalization will be in two types:
1. Capitalize the asset in the same period in which the asset is added to the system
2. Capitalize the asset other than the same period, in which the asset is added to the system.
Capitalized in the same period:
In payable:
CIP Clearing A/c …Dr
To Liability account
Asset A/c …Dr
To CIP Clearing
Capitalized after closing the period:
Asset A/c …Dr.
To CIP Clearing
When we adjusted the regular asset to the CIP Asset:
CIP Cost A/c …Dr.
To Asset Clearing A/c
Retirement of Asset:
Receivables:
Receivable A/c ...Dr
To Proceeds of sales A/c
Payables:
Asset Clearing [Cost of Removable] A/c
To payable A/c
Asset:
Accumulated Depreciation …Dr.
Proceeds of sales Clearing A/c …Dr.
Cost of Removable Gain A/c …Dr.
Revaluation Reserve A./c …Dr
Net Book Value Retired Gain …Dr.
To Asset Cost A/c
To Proceeds of Sale Gain A/c
To Cost of Removable Gain A/c
To Revaluation Reserve Retired Gain A/c
Normal sale once completed the life of asset
Sale:
Receivables A/c …Dr.
To Proceeds for Sale A/c (Revenue)
Cost of removable:
Asset Clearing A/c (Cost of Removable) …Dr.
To Liability A/c
Asset:
We sold the asset with profit and the incurred the cost of removable expenses:
Accumulated Depreciation A/c …Dr
Cost of Removable (Expense) …Dr
Sales Proceedings (Sale) …Dr.
To Asset Cost A/c
To Gain on sale of asset
To Asset Clearing A/c (Cost of removable)
We sold the asset with loss :
Accumulated Depreciation …Dr
Sale Proceedings …Dr
Loss on sale of Assets …Dr
To Asset Cost A/c
Scrap Sale:
Accumulated Depreciation A/c …Dr
Cost of Removable (Expense) …Dr
Sales Proceedings (Sale) …Dr.
To Asset Cost A/c
To Gain on sale of asset
To Asset Clearing A/c (Cost of removable)
We sold the asset (Scrap) with loss
Accumulated Depreciation …Dr
Sale Proceedings …Dr
Loss on sale of Assets …Dr
To Asset Cost A/c
Added additional features when asset value is Zero:
Asset Clearing account …Dr.
To Liability A/c
Asset Cost A/c …Dr.
To Asset Clearing Account
Depreciation A/c Dr.
Depreciation Adjustment A/c …Dr
To Accumulative Depreciation
*** ACCOUNTS RECEIVABLES ****
For Invoices and Debit Memos
Receivable A/c …Dr.
To Revenue A/c
For Invoice adjustment which increases the invoice amount
Receivables A/c …Dr
To Adjustment A/c
For Invoice adjustment which decreases the invoice amount
Adjustment A/c …Dr
To Receivable A/c
For Deposit:
When you enter an Invoice :
Receivables (Deposit) A/c …Dr.
To Unearned Revenue (Liability Account)
When you enter an Invoice against the Deposit
Receivables (Invoice) A/c …Dr.
To Revenue A/c
Unearned Revenue A/c …Dr.
To Receivables (Invoice) A/c
When cash is received against the Deposit
Cash A/c …Dr
To Receivables (Deposit) A/c
Goods are issued with a Guarantee:
When you enter a Guarantee:
Unbilled Receivable A/c …Dr.
To Unearned Revenue A/c
When you enter an invoice as against the Deposit:
Receivables (Invoice) A/c ..Dr.
To Revenue
Unearned Revenue A/c …Dr
To Unbilled Receivable (Invoice) A/c
Bills in Advance :
Receivable A/c ..Dr
To unearned Revenue
Unearned revenue A/c …Dr.
To Revenue A/c
Bills in arrears:
Unbilled receivable A/c …Dr
To Revenue A/c
Receivables A/c …Dr
To Unbilled Receivables A/c
Apply Receipt to Invoice :
Cash A/c …Dr
To Receivable A/c (Invoice)
Standard Reversal :
Receivable (Invoice) A/c …Dr
To Cash A/c
Debit Memo Reversal :
Reversal (Debit Memo) A/c …Dr
To Cash A/c
Standard Receipt :
Cash A/c …Dr
To Receivables/ Un applied/ on-Account/ Unidentified
Receipt with discount based on payment Terms:
Cash A/c …Dr.
To Receivable A/c
Earned/Unearned Discounts A/c …Dr.
To Receivables A/c
Receipts and Adjustments :
Cash A/c …Dr.
To Receivable A/c
Write-Off A/c …Dr.
To Receivables A/c
Receipt that requires Remittance:
Enter Receipt:
Confirmation …Dr
To Receivable A/c
Remit Receipt :
Remittance …Dr
To Confirmation
Clear Receipt
Cash A/c …Dr
To Remittance
Apply Receipt to Invoice :
Cash A/c …Dr
To Receivable A/c (Invoice)
Standard Reversal :
Receivable (Invoice) A/c …Dr
To Cash A/c
Debit Memo Reversal :
Reversal (Debit Memo) A/c …Dr
To Cash A/c
Standard Receipt :
Cash A/c …Dr
To Receivables/ Un applied/ on-Account/ Unidentified
Receipt with discount based on payment Terms:
Cash A/c …Dr.
To Receivable A/c
Earned/Unearned Discounts A/c …Dr.
To Receivables A/c
Receipts and Adjustments :
Cash A/c …Dr.
To Receivable A/c
Write-Off A/c …Dr.
To Receivables A/c
Receipt that requires Remittance:
Enter Receipt:
Confirmation …Dr
To Receivable A/c
Remit Receipt :
Remittance …Dr
To Confirmation
Clear Receipt
Cash A/c …Dr
To Remittance
Saturday, February 24, 2007
P2P Accounting Entries
Actually in P2P application will generate Journal entries from the point of 'Receiving Goods'..Before tht one it won't create JV...
Note : if anything worng in the following information ..plz correct me...
I) Receiving Accounting
a).for Inventory Item
Receiving Accrual Dr
Cr Inventory AP Accrual A/c.
b).For Expenses Item
Receiving Accrual A/c Dr
Cr Accrued Expense A/c
Delivery Accounting
a).for Inventory Item
Raw Material A/c Dr
Cr Receiving Accrual A/c
b). for Expense Item
Accrued Expense A/c Dr
Cr Receiving Accrual A/c
The reserve for encumbrance account is used when encumbrance accounting is enabled for SOB. When a Requisition or PO is created then in Oracle Financial there is no accounting entries. But when you have enabled your encumbrance accounting then system creates encumbrances accounting enties for PO as well as for Req.
When requisition is created system creates accounting entries as follows :-
Req Charge Account Dr XXXX
This enrty is not balanced. When this entries is posted in GL then it is autiomatically balanced by reserve for encumbrance account given in SOB...
The entry after posting will be as follows:-
Req Charge Account Dr XXXX
To Reserve for Encumbrance Account Cr XXXX
When a PO is auto created with this requisition then REQ encumbrances will be reversed and PO Encumbrance will be generated. (PO and REQ Encumbrances will be defined in Financial Option- Encumbrance TAB in Accounts Payable / Oracle Purchasing TAB).....
The entry will be :-
Generation of PO Encumbrance:-
PO Charge Account Dr XXXX
To Reserve for Encumbrance Account Cr XXXX
Reversal of Req Encumbrance:-
Reserve for Encumbrance Account Dr XXXX
To Req Charge Account Cr XXXX
An when PO is matched to Invoice the PO encumbrance is released because it has now become actual...
If we enter any unmatched invoice in AP then the following entry is created:-
INV Charge Account Dr XXXX
To Reserve to Encumbrance Cr XXXX
These encumbrance entries are reversed when PO or REQ is cancelled...
These entries generating in PO module are not automaticaly imported to GL we have to import these journal entries by running the following Program -- Program - Create Journals in General Ledger.
Encumbrance entries in AP are automatically transfered when payable transfer to GL is run.
===============================================================
II) For Invoice and Payment
a) On entering an invoice
Expense A/c DrTax A/c Dr
Cr AP Liability A/c
b) On making a payment
AP Liability A/c Dr
Cr Cash A/c.
c) On making a payment when cash Clearing account is used
AP Liability A/c Dr
Cr Cash Clearing A/c
d) On reconciling the payment.
Cash Clearing A/c Dr
Cr Cash A/c.
e) on entering Prepayment Invoice
Prepayment A/c Dr
Cr AP Liability A/c
When prepayment applied to any standard invoice
AP Liability A/c Dr
Cr Prepayment A/c
f). On entering any Debit /Credit Memo
AP Liability A/c Dr
Cr Expense A/c
g).on Creating With Holding tax Invoice in Payables
With Holding Tax A/c Dr
Cr AP Liability A/c
Thanks
MVN Raju
Note : if anything worng in the following information ..plz correct me...
I) Receiving Accounting
a).for Inventory Item
Receiving Accrual Dr
Cr Inventory AP Accrual A/c.
b).For Expenses Item
Receiving Accrual A/c Dr
Cr Accrued Expense A/c
Delivery Accounting
a).for Inventory Item
Raw Material A/c Dr
Cr Receiving Accrual A/c
b). for Expense Item
Accrued Expense A/c Dr
Cr Receiving Accrual A/c
The reserve for encumbrance account is used when encumbrance accounting is enabled for SOB. When a Requisition or PO is created then in Oracle Financial there is no accounting entries. But when you have enabled your encumbrance accounting then system creates encumbrances accounting enties for PO as well as for Req.
When requisition is created system creates accounting entries as follows :-
Req Charge Account Dr XXXX
This enrty is not balanced. When this entries is posted in GL then it is autiomatically balanced by reserve for encumbrance account given in SOB...
The entry after posting will be as follows:-
Req Charge Account Dr XXXX
To Reserve for Encumbrance Account Cr XXXX
When a PO is auto created with this requisition then REQ encumbrances will be reversed and PO Encumbrance will be generated. (PO and REQ Encumbrances will be defined in Financial Option- Encumbrance TAB in Accounts Payable / Oracle Purchasing TAB).....
The entry will be :-
Generation of PO Encumbrance:-
PO Charge Account Dr XXXX
To Reserve for Encumbrance Account Cr XXXX
Reversal of Req Encumbrance:-
Reserve for Encumbrance Account Dr XXXX
To Req Charge Account Cr XXXX
An when PO is matched to Invoice the PO encumbrance is released because it has now become actual...
If we enter any unmatched invoice in AP then the following entry is created:-
INV Charge Account Dr XXXX
To Reserve to Encumbrance Cr XXXX
These encumbrance entries are reversed when PO or REQ is cancelled...
These entries generating in PO module are not automaticaly imported to GL we have to import these journal entries by running the following Program -- Program - Create Journals in General Ledger.
Encumbrance entries in AP are automatically transfered when payable transfer to GL is run.
===============================================================
II) For Invoice and Payment
a) On entering an invoice
Expense A/c DrTax A/c Dr
Cr AP Liability A/c
b) On making a payment
AP Liability A/c Dr
Cr Cash A/c.
c) On making a payment when cash Clearing account is used
AP Liability A/c Dr
Cr Cash Clearing A/c
d) On reconciling the payment.
Cash Clearing A/c Dr
Cr Cash A/c.
e) on entering Prepayment Invoice
Prepayment A/c Dr
Cr AP Liability A/c
When prepayment applied to any standard invoice
AP Liability A/c Dr
Cr Prepayment A/c
f). On entering any Debit /Credit Memo
AP Liability A/c Dr
Cr Expense A/c
g).on Creating With Holding tax Invoice in Payables
With Holding Tax A/c Dr
Cr AP Liability A/c
Thanks
MVN Raju
Thursday, February 22, 2007
Oracle Financials R12 New Features..!!
Fin Apps R12 Functionality Improvements Part 1 -
Multi Org Access Control
After reading a slew of Oracle Pre Release Documentation for Release 12 for Financials I thought I would share some of the ”nuggets” of the functionality improvements within Financials – I will split this across three entries over the week being “Multi-Org Access Control”, “General Ledger” and “Improved Processing Efficiency”.
‘MULTI-ORG ACCESS CONTROL’, (MOAC)
Multi-Org Access Control enables companies that have implemented a Shared Services operating model to efficiently process business transactions by allowing them to access, process, and report on data for an unlimited number of operating units within a single applications responsibility. This increases the productivity of Shared Service Centers, as users and processes no longer have to switch applications responsibilities when processing transactions for multiple operating units at a time. Data security and access privileges are still maintained using security profiles that now support a list of operating units.
In Release 11i, a user assigned to an Operating Unit (OU) would process data from the products deployed in that OU. To process data for another OU, a user would log out of the first and into the second. The data generated in that OU would be accounted for according to rules generated by various product accounting engines, and posted to general ledger in ways appropriate for the different products, some generating part of the detail at different times in the process. General Ledger sets of books (SoB) were self-contained, reflecting the balances of the entity to which you’d assigned the SoB, and managed by users assigned to the SoB.
In Release 12.0, users can be assigned to multiple operating units, and are supported by processes and transactions that can span operating units. Their data is book-kept according to rules stored in a single accounting engine, and the accounting is stored in subledger tables that are standard across all products. Complete accounting is maintained for every appropriate event, and all subledger entries are fully balanced and detailed. A single, common posting engine summarizes to your required level of detail, and posts to General ledger. Sets of Books are replaced by the accounting entity’s ‘ledger’ for data, and its ‘Ledger Set’ for processing, from reporting, opening and closing, through allocations. Ledgers can be combined into ledger sets, and GL users are assigned to the ledger sets.
Enhanced Multi-Org Reporting
Consistent with the Multi-Org Access Control feature, users are able to run reports using two levels:
Ledger: The report runs for all operating units within a ledger to which the user has access.
Operating Unit: The report runs for a selected operating unit that belongs to the user’s security profile.
Fin Apps R12 Improvements Part 2 - General Ledger
After reading a slew of Oracle Pre Release Documentation for Release 12 for Financials I thought I would share some of the ”nuggets” of the functionality improvements within Financials – I have split this across three entries being “Multi-Org Access Control” (posted last week), “General Ledger” (posted today) and “Improved Processing Efficiency”
GENERAL LEDGER
Simultaneous Accounting for Multiple Reporting Requirements
Companies that are global in nature and that have operations in different localities often have multiple reporting requirements. These companies and their subsidiaries often need to satisfy the accounting and reporting requirements for each country as well as those of the parent company. This involves performing accounting in accordance with accounting principles and standards of multiple countries and in different currencies, charts of accounts, and/or calendars.
The reporting requirements can also be statutory in nature, and one subsidiary may even need to satisfy multiple sets of statutory requirements. Oracle General Ledger simplifies the simultaneous management of the accounting for all of these different reporting requirements in this latest release. You are able to define your legal entities and the setup needed to address each accounting and reporting requirement using the Accounting Setup Manager. New enhancements and integration with Subledger Accounting enable Oracle General Ledger to perform accounting for all reporting requirements of a legal entity simultaneously.
Centralized Accounting Setup
The Accounting Setup Manager is a central location to define your Accounting - related setup across all financial applications. Here you can define your legal entities and their accounting context, which includes the ledgers that contain the accounting data for each legal entity. If a legal entity has multiple reporting requirements, you can include additional reporting currencies or ledgers in the accounting context to satisfy the additional requirements.
Financials - R12 Functionality improvements - Part 3
After reading a slew of Oracle pre release Documentation for Release 12 for Financials I thought I would share some of the ”nuggets” of the functionality improvements within Financials – I have split this across three entries over the past ten days being “Multi-Org Access Control”, “General Ledger” and part 3 below - “Improved Processing Efficiency”
IMPROVED PROCESSING EFFICIENCY
Simultaneous Data Access to Multiple Legal Entities and Ledgers
You can access multiple legal entities and ledgers when you log into Oracle General Ledger using a single responsibility. This improves processing efficiency by reducing the need to switch between responsibilities when trying to access data for different ledgers or legal entities.
Simultaneous Opening and Closing of Periods for Multiple Ledgers
The Open and Close Periods Programs has multiple enhancements. You are able to run any of the Open and Close Periods Programs from the Concurrent Manager. This allows you to take advantage of scheduling and request set capabilities for greater processing efficiency.
Also, if you manage multiple ledgers, you can open or close periods for multiple ledgers simultaneously. You can even keep the status of periods across multiple ledgers in synch with new programs that ensure a specific period is Open or Closed for all of the ledgers you manage.
Cross-Ledger and Foreign Currency Allocations
You are able to allocate financial data from one or more ledgers to a different target ledger. This enables you to perform cross-ledger allocations, which is useful for purposes such as allocating corporate or regional expenses to local subsidiaries when each entity has its own ledger.
This is possible even if the target ledger is in a different currency than the source ledger (s) because you can create allocations in foreign currencies. Foreign currency allocations are also useful within a single ledger if you need to allocate amounts to a currency that is different from the primary currency of a ledger. Simultaneous Currency Translation of Multiple Ledgers
If you manage multiple ledgers, you can run the Translation program for multiple ledgers simultaneously.
Financial Reporting Across Ledgers
You are able to run Financial Statement Generator (FSG) reports for multiple ledgers simultaneously. This is useful if you manage multiple ledgers and want to run a balance sheet or income statement report for all of your ledgers at the same time.You can also create an FSG report that includes data from multiple ledgers in a single report; the data in each ledger can be displayed in a separate row or column, or data from multiple ledgers can be aggregated into a single row or column.
This is useful for reports such as consolidating financial statements that display data for each subsidiary in separate columns, as well as aggregated data in a total column.
Automatic Journal Copy
You are now able to automatically copy an existing journal batch to create a new journal batch with the same journals and journal lines. This reduces the amount of work you need to do to re-create a journal that has already been defined. During the copying process, you have the option to change the period and effective date of the journal batch.
I hope you have found this series useful - until the next time!
Thanks,
MVN Raju
Multi Org Access Control
After reading a slew of Oracle Pre Release Documentation for Release 12 for Financials I thought I would share some of the ”nuggets” of the functionality improvements within Financials – I will split this across three entries over the week being “Multi-Org Access Control”, “General Ledger” and “Improved Processing Efficiency”.
‘MULTI-ORG ACCESS CONTROL’, (MOAC)
Multi-Org Access Control enables companies that have implemented a Shared Services operating model to efficiently process business transactions by allowing them to access, process, and report on data for an unlimited number of operating units within a single applications responsibility. This increases the productivity of Shared Service Centers, as users and processes no longer have to switch applications responsibilities when processing transactions for multiple operating units at a time. Data security and access privileges are still maintained using security profiles that now support a list of operating units.
In Release 11i, a user assigned to an Operating Unit (OU) would process data from the products deployed in that OU. To process data for another OU, a user would log out of the first and into the second. The data generated in that OU would be accounted for according to rules generated by various product accounting engines, and posted to general ledger in ways appropriate for the different products, some generating part of the detail at different times in the process. General Ledger sets of books (SoB) were self-contained, reflecting the balances of the entity to which you’d assigned the SoB, and managed by users assigned to the SoB.
In Release 12.0, users can be assigned to multiple operating units, and are supported by processes and transactions that can span operating units. Their data is book-kept according to rules stored in a single accounting engine, and the accounting is stored in subledger tables that are standard across all products. Complete accounting is maintained for every appropriate event, and all subledger entries are fully balanced and detailed. A single, common posting engine summarizes to your required level of detail, and posts to General ledger. Sets of Books are replaced by the accounting entity’s ‘ledger’ for data, and its ‘Ledger Set’ for processing, from reporting, opening and closing, through allocations. Ledgers can be combined into ledger sets, and GL users are assigned to the ledger sets.
Enhanced Multi-Org Reporting
Consistent with the Multi-Org Access Control feature, users are able to run reports using two levels:
Ledger: The report runs for all operating units within a ledger to which the user has access.
Operating Unit: The report runs for a selected operating unit that belongs to the user’s security profile.
Fin Apps R12 Improvements Part 2 - General Ledger
After reading a slew of Oracle Pre Release Documentation for Release 12 for Financials I thought I would share some of the ”nuggets” of the functionality improvements within Financials – I have split this across three entries being “Multi-Org Access Control” (posted last week), “General Ledger” (posted today) and “Improved Processing Efficiency”
GENERAL LEDGER
Simultaneous Accounting for Multiple Reporting Requirements
Companies that are global in nature and that have operations in different localities often have multiple reporting requirements. These companies and their subsidiaries often need to satisfy the accounting and reporting requirements for each country as well as those of the parent company. This involves performing accounting in accordance with accounting principles and standards of multiple countries and in different currencies, charts of accounts, and/or calendars.
The reporting requirements can also be statutory in nature, and one subsidiary may even need to satisfy multiple sets of statutory requirements. Oracle General Ledger simplifies the simultaneous management of the accounting for all of these different reporting requirements in this latest release. You are able to define your legal entities and the setup needed to address each accounting and reporting requirement using the Accounting Setup Manager. New enhancements and integration with Subledger Accounting enable Oracle General Ledger to perform accounting for all reporting requirements of a legal entity simultaneously.
Centralized Accounting Setup
The Accounting Setup Manager is a central location to define your Accounting - related setup across all financial applications. Here you can define your legal entities and their accounting context, which includes the ledgers that contain the accounting data for each legal entity. If a legal entity has multiple reporting requirements, you can include additional reporting currencies or ledgers in the accounting context to satisfy the additional requirements.
Financials - R12 Functionality improvements - Part 3
After reading a slew of Oracle pre release Documentation for Release 12 for Financials I thought I would share some of the ”nuggets” of the functionality improvements within Financials – I have split this across three entries over the past ten days being “Multi-Org Access Control”, “General Ledger” and part 3 below - “Improved Processing Efficiency”
IMPROVED PROCESSING EFFICIENCY
Simultaneous Data Access to Multiple Legal Entities and Ledgers
You can access multiple legal entities and ledgers when you log into Oracle General Ledger using a single responsibility. This improves processing efficiency by reducing the need to switch between responsibilities when trying to access data for different ledgers or legal entities.
Simultaneous Opening and Closing of Periods for Multiple Ledgers
The Open and Close Periods Programs has multiple enhancements. You are able to run any of the Open and Close Periods Programs from the Concurrent Manager. This allows you to take advantage of scheduling and request set capabilities for greater processing efficiency.
Also, if you manage multiple ledgers, you can open or close periods for multiple ledgers simultaneously. You can even keep the status of periods across multiple ledgers in synch with new programs that ensure a specific period is Open or Closed for all of the ledgers you manage.
Cross-Ledger and Foreign Currency Allocations
You are able to allocate financial data from one or more ledgers to a different target ledger. This enables you to perform cross-ledger allocations, which is useful for purposes such as allocating corporate or regional expenses to local subsidiaries when each entity has its own ledger.
This is possible even if the target ledger is in a different currency than the source ledger (s) because you can create allocations in foreign currencies. Foreign currency allocations are also useful within a single ledger if you need to allocate amounts to a currency that is different from the primary currency of a ledger. Simultaneous Currency Translation of Multiple Ledgers
If you manage multiple ledgers, you can run the Translation program for multiple ledgers simultaneously.
Financial Reporting Across Ledgers
You are able to run Financial Statement Generator (FSG) reports for multiple ledgers simultaneously. This is useful if you manage multiple ledgers and want to run a balance sheet or income statement report for all of your ledgers at the same time.You can also create an FSG report that includes data from multiple ledgers in a single report; the data in each ledger can be displayed in a separate row or column, or data from multiple ledgers can be aggregated into a single row or column.
This is useful for reports such as consolidating financial statements that display data for each subsidiary in separate columns, as well as aggregated data in a total column.
Automatic Journal Copy
You are now able to automatically copy an existing journal batch to create a new journal batch with the same journals and journal lines. This reduces the amount of work you need to do to re-create a journal that has already been defined. During the copying process, you have the option to change the period and effective date of the journal batch.
I hope you have found this series useful - until the next time!
Thanks,
MVN Raju
Saturday, December 23, 2006
Oracle Accounts Payables Interview Questions
Questions in Accounts Payable
1. Q: How do you set up voucher number in AP?
A: Set up in the system administration.
2. Q: Can I have two sets of voucher numbering for different periods for e.g. one from 1st Apr to 31st Mar’99 and another from 1st Apr’00 to 31st Mar’01.
A: Yes, define different sequences
3. Q: What is the profile option for voucher number?
A: Sequential Numbering
4. Q: Can I have Multiple currency Bank accounts? If so how do I set it up?
A: Yes, Payable option and define Bank screen.
5. Q: Explain the procedure for dealing with cash transactions including advance made in cash and return of cash?
A: Create a dummy cash bank
6. Q: If I do not have a foreign currency Bank account, tell me whether I can raise a foreign currency Purchase order and pay for it in Functional Currency.?
A: NO
7. Q: Can I define Invoice type? Is it a quick code
A: NO
8. Q: What is a 4-way match?
9. Q: How do I make payment for a demand draft?
A: Either define a dummy supplier or enable the flexfield in the payment screen and write a alternate check printing program
10. Q: Explain the procedure for transferring the asset from AP to FA.
A: Transfer the invoices to GL and run the Create Mass Additions Program
11. Q: Can I create recurring invoices for prior periods?
A: NO
12. Q: Can I set approval hierarchy for expense express amounts.
A: Yes
13. Q: What is a pooled account and what does it do?
A: A pooled bank account is one that is shared by multiple companies in the balancing segment
14. Q: Where do you define the accounting information for a supplier?
A: At site level
15. Q: What types of Distribution Sets can you use for a recurring invoice?
A: Only of the type “Full”
16. Q: What are the different types of holds?
A: System Holds, Manual Holds, Supplier Site Holds
17. Q: For what purposes is the special calendar defined?
A: Recurring Invoices, Key Indicators Report and With holding Taxes
18. Q: Difference between permanent prepayment and temporary prepayment ?
A: Permanent prepayment is for long term deposits like telephone deposit, electricity deposit etc.
19. Q: Can you change permanent prepayment to temporary and vice versa at a latter date /
A: Yes
20. Q: Maximum number of discounts that can be given to each payment line?
A: Three
I Will be posting some more questions on other modules as well soon..!! So..Keeeep Browsing and any suggestions to make this blog more powerful will be highly appreciated..!!
Thanks,
Raju MVN
1. Q: How do you set up voucher number in AP?
A: Set up in the system administration.
2. Q: Can I have two sets of voucher numbering for different periods for e.g. one from 1st Apr to 31st Mar’99 and another from 1st Apr’00 to 31st Mar’01.
A: Yes, define different sequences
3. Q: What is the profile option for voucher number?
A: Sequential Numbering
4. Q: Can I have Multiple currency Bank accounts? If so how do I set it up?
A: Yes, Payable option and define Bank screen.
5. Q: Explain the procedure for dealing with cash transactions including advance made in cash and return of cash?
A: Create a dummy cash bank
6. Q: If I do not have a foreign currency Bank account, tell me whether I can raise a foreign currency Purchase order and pay for it in Functional Currency.?
A: NO
7. Q: Can I define Invoice type? Is it a quick code
A: NO
8. Q: What is a 4-way match?
9. Q: How do I make payment for a demand draft?
A: Either define a dummy supplier or enable the flexfield in the payment screen and write a alternate check printing program
10. Q: Explain the procedure for transferring the asset from AP to FA.
A: Transfer the invoices to GL and run the Create Mass Additions Program
11. Q: Can I create recurring invoices for prior periods?
A: NO
12. Q: Can I set approval hierarchy for expense express amounts.
A: Yes
13. Q: What is a pooled account and what does it do?
A: A pooled bank account is one that is shared by multiple companies in the balancing segment
14. Q: Where do you define the accounting information for a supplier?
A: At site level
15. Q: What types of Distribution Sets can you use for a recurring invoice?
A: Only of the type “Full”
16. Q: What are the different types of holds?
A: System Holds, Manual Holds, Supplier Site Holds
17. Q: For what purposes is the special calendar defined?
A: Recurring Invoices, Key Indicators Report and With holding Taxes
18. Q: Difference between permanent prepayment and temporary prepayment ?
A: Permanent prepayment is for long term deposits like telephone deposit, electricity deposit etc.
19. Q: Can you change permanent prepayment to temporary and vice versa at a latter date /
A: Yes
20. Q: Maximum number of discounts that can be given to each payment line?
A: Three
I Will be posting some more questions on other modules as well soon..!! So..Keeeep Browsing and any suggestions to make this blog more powerful will be highly appreciated..!!
Thanks,
Raju MVN
Oracle Internet Expenses Setup Steps
It's a feature has a useful How to, for configuring Oracle iExpenses.
According to the Oracle Internet Expenses Site:
Oracle Internet Expenses is a travel and entertainment solution that streamlines and automates travel spend management. The result: a dramatic and immediate return on investment with direct impact on the bottom line.
The Key Steps Mentioned in the It’s a Feature blog entry are:
1. PA: Enable Project Expenditure Types for Expense Report Entry
2. AP: Define Expense Report Templates
3. AP: Define Financials Options > Accounting
4. AP: Establish Multiple Currencies Setup
5. AP: Defining Expense Report Options
6. AP: Assign Signing Limits
7. OIE: Define iExpense Policies
8. OIE: Enable Expense Allocations
9. OIE: Define Receipt Notification Rule Set
10. OIE: Assign Receipt Notification Rule Set
11. OIE: Define Mileage Rate Schedule
12. AP: Complete Mileage Expense Type Definition in Payables
13. SA: Define Profile Options
14. WF: Customize Project Expense Report Account Generator
15. GL: Assign Your Customized Project Expense Report Account Generator to your chart of accounts
16. WF: Customize the Internet Expenses Workflow
17. WF: Define Workflow Notification Performers
18. Change the Find Approver Method
19. Personalize Expense Report Submission Instructions
20. Compile the Expense Types Descriptive flexfield!
21. Enable the Display of Project and Task
22. Other Configuration Considerations
Enjoy..Learning..!!
Raju MVN
According to the Oracle Internet Expenses Site:
Oracle Internet Expenses is a travel and entertainment solution that streamlines and automates travel spend management. The result: a dramatic and immediate return on investment with direct impact on the bottom line.
The Key Steps Mentioned in the It’s a Feature blog entry are:
1. PA: Enable Project Expenditure Types for Expense Report Entry
2. AP: Define Expense Report Templates
3. AP: Define Financials Options > Accounting
4. AP: Establish Multiple Currencies Setup
5. AP: Defining Expense Report Options
6. AP: Assign Signing Limits
7. OIE: Define iExpense Policies
8. OIE: Enable Expense Allocations
9. OIE: Define Receipt Notification Rule Set
10. OIE: Assign Receipt Notification Rule Set
11. OIE: Define Mileage Rate Schedule
12. AP: Complete Mileage Expense Type Definition in Payables
13. SA: Define Profile Options
14. WF: Customize Project Expense Report Account Generator
15. GL: Assign Your Customized Project Expense Report Account Generator to your chart of accounts
16. WF: Customize the Internet Expenses Workflow
17. WF: Define Workflow Notification Performers
18. Change the Find Approver Method
19. Personalize Expense Report Submission Instructions
20. Compile the Expense Types Descriptive flexfield!
21. Enable the Display of Project and Task
22. Other Configuration Considerations
Enjoy..Learning..!!
Raju MVN
How Account Generation Really Works in Oracle iExpense
Speaking about features and idiosyncrasies, let’s talk about how the accounting flexfield is generated in Oracle iExpenses (10.5.10) when employee submits his or her expense report. For simplicity sake, let’s assume the expense report does not have any multi-currency or credit card items. And as example, let’s assume we are using a simple chart of accounts containing of three segments:
Company-Cost Center-Account
Our employee belongs to company 100, and cost center 1000. Oracle iExpenses follows these steps to generate his account during the expense report entry:
Step 1: The Default Expense Account Defined in employee’s HR assignment:
Company-Cost Center-Account
Our employee belongs to company 100, and cost center 1000. Oracle iExpenses follows these steps to generate his account during the expense report entry:
Step 1: The Default Expense Account Defined in employee’s HR assignment:
100-1000-55555
Step 2: Employee enters the Expense Report Header. If he does not override the Cost Center, iExpenses proceeds to Step 3. If he does override the Cost Center (e.g. 2000), Oracle iExpenses builds an initial accounting combination of his Default Expense Account with his new Override Department.
100-2000-55555
The Feature: If this initial combination is invalid, employee will be able to proceed with the expense report entry but the report submission will fail without notifying the employee and regardless what the employee enters below!
Step 3: Employee enters expense line with an expense type (e.g. Airfare=50050) and no project. The system generates the expense line accounting flexfield. If project and task are entered, the system proceeds to Step 5:
100-2000-50050
Step 4: If Expense Allocations functionality is enabled, employee can change the above expense distribution for each line (e.g. 200-2222). If the above expense combination is invalid and the employee does not update it, the expense report submission will fail.
200-2222-50050
Step 5: Project and Task were entered at the expense line level: iExpenses will engage the Account Generator, and will follow its rules to update the initial combination, and build the new one. For example, let’s say the Company is derived from Project Organization (Seattle=100), Department from Override Department above (2000), and Account from Expense Type (Airfare). The resulting accounting combination will look as follows:
200-2000-50050
Implementation Tip: Define one Default Expense Account to be valid across all combinations of companies and cost centers, which will be used in cross-charges.
Hope you will find this information helpful. We did not have much luck trying to figure this out using the available Oracle resources.
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