oracle apps finance module

[ranjit.chavan]

hi everyone
please tell me the details about oracle apps GL,AP and AR life cycle

[moon.golla]

hi everyone
please tell me the details about oracle apps GL,AP and AR life cycle

Hi,
Please find the attached AP cycle below
Procure to pay cycle.

Purchase Requisition.
Request for Quote (RFQ)
Source- Supplier.
Quotation.
Purchase order
Goods Receiving.
Invoicing
Payment
Transfer to GL

Journal Entry for some of the AP entries.
For Future Dated Payments: Debit thee AP liability A/c and credit the Future

Dated Payment A/c. Then Payment Maturity- Debit the Future Dated Payment A/c and credit Cash Clearing A/c.

PO Creation: Debit Material A/c and Credit AP Accrual A/c. PO matches with invoice- Debit AP Accrual A/c and Credit the AP Liability A/c.

Prepayment: debit AP prepayment A/c and Credit AP Liability A/c. When paid the Prepayment – debit AP Liability A/c and Credit Cash Clearing A/c.

Reconciled Payment: Debit AP Liability A/C and Credit the Cash A/c and Bank charges- Debit Bank charges A/c and Credit Cash A/c.


REgards,
Mallesh,