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What are the journal entries in Procure to Pay Cycle?
chvgupta2001
- May 6th, 2007
When we raise the Purchase Order entry isMaterial in transit a/c Dr To AP Accrual A/cWhen we match the Invoice with POAP Accruals A/c &...
durgesh3
- Nov 21st, 2006
1. On Entry of PO ________ No accounting impact2. On Materil ReceiptReceiving Accural DrAP Accural Cr3. On Completion of Inspection and goods acceptedInventory DrReceiving Accural CrThe Above mentione...
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Calendar
what is the difference between Normal calendar and special calendar?
sreenathreddy.cp
- Mar 7th, 2014
Calendar are two types
1.accounting calendar
2.transaction calendar (optional)
accounting calendar there are two types
1.calendar (normal/regular/general)
2.fiscal calendarmadivalappa
- May 27th, 2009
In GL we can define 2 type of calendars. One is Calendar (normal Calendar)and another Fiscal calendar. Normal calendar uses the year in which an accounting period begin for the system name ....
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What is Budget and Encumbrance ?
James123
- Feb 8th, 2010
Simply a budget is a kind of Reserve kept for future purpose expenses for KNOWN expense overheads. Ex: Stationary, Machinery, Computers, Bonuses..etc. etc.. Whereas Encumbrance&...
peterson1975
- Nov 16th, 2009
A budget is a forecast (estimate) of cost, expenditure or /and revenue for a specified period of time. it may include one or mare accounting years. It is used to major the achievement of the company...
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What is an Invoice?
Carlos Lopez Campos
- Jun 7th, 2016
It is a document that contains details of receipts (payments) and Shipping (receipts) for payment and collection between commercial entities
viren56
- Oct 21st, 2011
An Invoice is a commercial document issued by seller to buyer indicating the products/ services, quantities and agreed pricess. primary attribute of an AR invoice are: 1. Inv Number 2. Inv date 3. Cur...
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What you meant Retained Earnings? When the Entries are created and what is the entry?
vikas
- Apr 30th, 2012
Retained earnings derived in Oracle terms as Sum of all Revenue Account Balances - Sum of all Expense Account balances for the accounting year.They are calculated when you close the last period ...
tonyj666
- Mar 31st, 2010
Retained earnings derived in Oracle terms as Sum of all Revenue Account Balances - Sum of all Expense Account balances for the accounting year.They are calculated when you close the last period ...
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Intercompany in GL
What is the purpose of Intercompany in GL? Explain purpose of criteria
ajith kumar s
- Nov 9th, 2012
?ntra Company : If any transactions takes place between the branches with in the legal entity is called as Intracompany Inter Company: If any transaction takes place between the branches across the ...
narasimhassk
- Aug 21st, 2012
INTRA :- Transactions with in the same legal entity is called Intra Company Transactions
INTER:- Transactions across the legal entity is called Inter company transactions. -
What is Consolidation in GL?
viren56
- Oct 20th, 2011
Consolidation means : merging the financial data of all subsidiary ledgers(SOBs) into one Parent SOB. STEPS: 1. Run 'Translation' if the subsidiary SOBs have different currency than parent. 2. Defi...
Spice
- Dec 10th, 2007
Consolidation is 'consolidating different books' into the parent company to get a final pictrue of all subsidary and parent companies put to gether. It may be noted that the currency, coa and calender can be different with these sobs
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Can anyone tell me about MRC and Multi-Org?
THIRUPATHI JETTY
- Apr 17th, 2014
MRC:-if you want your primary ledger accounting data in another currency representation will use multiple reporting currency (MRC) for reporting purpose... Multi org:- this is new feature in R12, mu...
mirunalinimiru
- Apr 24th, 2008
Step for the following Multi-Org1.Define Location2.Define Organization3.In Organization Define Legal entity4.Define Operating Unit5.In organization Define Accounting Information, Attach 1. Sob,2.attach Legal entity,3.operating unit
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What are different period types?
Geek_Nerd
- Apr 22nd, 2016
The most standard period types are :
1. Month
2. Quarter
3. Year
We use these period types when we define the accounting calendar for our organization.Veeranjaneyulu
- Apr 6th, 2016
1 Monthly
2 Quatarly
3 Half yearly
4 Yearly
5 Weekly
6 Daily
But someone give that answers that one related to period status like open, close, never open etc. -
GL Interview Questions
Ans