5/11/24, 4:34 PM Oracle Applications: Oracle Journal Entries - AP, FA, AR

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THURSDAY, NOVEMBER 9, 2017

Oracle Journal Entries - AP, FA, AR

Journal Entries:
MODULE : ACCOUNTS PAYABLE

Material Receipt: Prepayment to Supplier/Employees :

1. On entry of PO: Prepayment Invoice:
No accounting impact. Prepaid Expense A/c ...Dr
To Accounts Payable A/c
2. Material receipt
Payment against Invoice
Receiving accrual Dr Accounts Payable A/c …Dr
AP accrual Cr. To Cash Clearing Ac

3. On completion of inspection Reconciliation in Cash Management:

Cash Clearing A/c Dr
Inventory Dr. To Cash A/c
Receiving accrual Cr.
Standard Invoice:
4. On entering invoice in AP and matching it to receipt AP Accrual A/c Dr
To Accounts Payable A/c
AP Accrual Dr.
Accounts payable Cr. Apply payment against Invoices:
Accounts Payable A/c …Dr
5. On payment To Prepaid Expenses

Accounts payable Dr. Petty Cashier Transactions:

Cash clearing Cr. (if clearing is enabled) Prepayment Invoices:
Cash Cr. (if clearing is not enabled) Prepayment Expenses A/c …Dr
To Petty Cashier Liability A/c
6. On clearing
Cash Clearing Dr. Payment against the invoice:
Cash Cr.
Petty cashier Liability A/c …Dr
Debit and Credit Memo : To Cash A/c
Debit Memo/ Credit Memo:
Expense Report:
Accounts Payable A/c …Dr.
To Expense A/c Expense A/c …Dr
To Petty Cashier Liability A/c
Standard Invoice:
Apply payment Against Invoices :
AP Accrual A/c …Dr Petty Cashier Liability A/c …Dr
To Accounts Payable A/c To Prepayment Expenses 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

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5/11/24, 4:34 PM Oracle Applications: Oracle Journal Entries - AP, FA, AR

This siteEntries:
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Module with
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Assets LEARN MORE GOT IT
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Retirement of Asset:
Receivables:
Normal Addition of assets : Receivable A/c ...Dr
Purchasing: To Proceeds of sales A/c
1. When Asset Item is received:-
Payables:
Receiving Inventory Account Dr Asset Clearing [Cost of Removable] A/c
To Inventory A/P Accrual Account Cr To payable A/c

2. When Item is Delivered to Asset:- Asset:

Accumulated Depreciation …Dr.
Asset Clearing Account Dr Proceeds of sales Clearing A/c …Dr.
To Receiving Inventory Account Cr Cost of Removable Gain A/c …Dr.
Revaluation Reserve A./c …Dr
Payables Net Book Value Retired Gain …Dr.
1. When Invoice for Asset Item is created :
To Asset Cost A/c
Inventory A/P Accrual Account Dr To Proceeds of Sale Gain A/c
To Account Payable Liability Account Cr To Cost of Removable Gain A/c
To Revaluation Reserve Retired Gain A/c
2. When Invoice is paid in Accounts Payable:-
Normal sale once completed the life of asset
Account Payable Liability Account Dr Sale:
To Bank Account Cr Receivables A/c …Dr.
To Proceeds for Sale A/c (Revenue)
Entry in Assets:
Assets A/c ...Dr. Cost of removable:
To Asset Clearing A/c. Cr.
Asset Clearing A/c (Cost of Removable) …Dr.
Depreciation Expense: To Liability A/c
Depreciation A/c Dr.
Depreciation Adjustment A/c …Dr Asset:
To Accumulative Depreciation
We sold the asset with profit and the incurred the
Merge Two Assets: cost of removable expenses:
Assets ( A+ B) ….Dr
To Asset Clearing A/c (Cost of Asset A) Accumulated Depreciation A/c …Dr
To Asset Clearing A/c (Cost of Asset B) Cost of Removable (Expense) …Dr
Sales Proceedings (Sale) …Dr.
CIP Assets: To Asset Cost A/c
Payables: To Gain on sale of asset
CIP Clearing A/c Dr To Asset Clearing A/c (Cost of removable)
To Accounts payable A/c
We sold the asset with loss :
When we add an asset as CIP assets, then we will have
the entry as: Accumulated Depreciation …Dr
Sale Proceedings …Dr
Assets: Loss on sale of Assets …Dr
CIP Cost A/c …DR To Asset Cost A/c
To CIP Clearing A/c
Scrap Sale:
For these types of assets, we will not charge depreciation Accumulated Depreciation A/c …Dr
until and unless we capitalize the assets. Cost of Removable (Expense) …Dr
Sales Proceedings (Sale) …Dr.
Capitalization will be in two types: To Asset Cost A/c
1. Capitalize the asset in the same period in which the To Gain on sale of asset
asset is added to the system To Asset Clearing A/c (Cost of removable)
2. Capitalize the asset other than the same period, in
which the asset is added to the system. We sold the asset (Scrap) with loss
Accumulated Depreciation …Dr
Capitalized in the same period: Sale Proceedings …Dr
In payable: Loss on sale of Assets …Dr
CIP Clearing A/c …Dr To Asset Cost A/c
To Liability account
Added additional features when asset value is
Asset A/c …Dr Zero:
To CIP Clearing Asset Clearing account …Dr.
To Liability A/c
Capitalized after closing the period:
Asset Cost A/c …Dr.
Asset A/c …Dr. To Asset Clearing Account

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5/11/24, 4:34 PM Oracle Applications: Oracle Journal Entries - AP, FA, AR
To CIP Clearing
This site uses cookies from Google to deliver its services and toA/c
Depreciation analyse
Dr. traffic. Your IP address and user agent
are shared
When with Google,
we adjusted together
the regular withCIP
asset to the performance
Asset: and securityAdjustment
Depreciation metrics, A/c
to ensure
…Dr quality of service, generate LEARN MORE GOT IT
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CIP Cost A/c …Dr.and to detect and address abuse. To Accumulative Depreciation
To Asset Clearing A/c

Journal Entries:
Module : Accounts Receivable.

Apply Receipt to Invoice :

For Invoices and Debit Memos Cash A/c …Dr
Receivable A/c …Dr. To Receivable A/c (Invoice)
To Revenue A/c
Standard Reversal :
FOR INVOICE ADJUSTMENT WHICH Receivable (Invoice) A/c …Dr
INCREASES THE INVOICE AMOUNT To Cash A/c
Receivables A/c …Dr
To Adjustment A/c Debit Memo Reversal :
Reversal (Debit Memo) A/c …Dr
To Cash A/c
For Invoice adjustment which decreases the invoice
amount
Standard Receipt :
Cash A/c …Dr
Adjustment A/c …Dr To Receivables/ Un applied/ on-Account/
To Receivable A/c Unidentified

For Deposit: Receipt with discount based on payment Terms:

When you enter an Invoice : Cash A/c …Dr.
To Receivable A/c
Receivables (Deposit) A/c …Dr.
To Unearned Revenue (Liability Account) Earned/Unearned Discounts A/c …Dr.
To Receivables A/c
When you enter an Invoice against the Deposit
Receivables (Invoice) A/c …Dr. Receipts and Adjustments :
To Revenue A/c
Cash A/c …Dr.
Unearned Revenue A/c …Dr. To Receivable A/c
To Receivables (Invoice) A/c
Write-Off A/c …Dr.
When cash is received against the Deposit To Receivables A/c
Cash A/c …Dr
To Receivables (Deposit) A/c
Receipt that requires Remittance:
Goods are issued with a Guarantee: Enter Receipt:
When you enter a Guarantee: Confirmation …Dr
Unbilled Receivable A/c …Dr. To Receivable A/c
To Unearned Revenue A/c
Remit Receipt :
When you enter an invoice as against the Deposit: Remittance …Dr
To Confirmation
Receivables (Invoice) A/c ..Dr.
To Revenue Clear Receipt
Cash A/c …Dr
Unearned Revenue A/c …Dr To Remittance
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

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5/11/24, 4:34 PM Oracle Applications: Oracle Journal Entries - AP, FA, AR

Posted by Raju Chinthapatla at 10:11:00 PM

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1 comment:
Raju Chinthapatla said...
Hello,

For the Script/Document Please send a mail to OracleApps88@Yahoo.com with POST url.

Thanks,
Raju
March 12, 2020 at 12:13 PM

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