Oracle Applications: Payable Accounting Entries

Accounting Entries - Payables


Accounting Events
1 An accounting event is a Payables transaction that has accounting impact. After an accounting event completes, you can create accounting entries for it by creating accounting entries for the category or document class that includes the event.
2 The following is the complete list of the accounting events in Payables, listed by document class.


Invoices
1 invoice
2 invoice adjustment
3 invoice cancellation
4 prepayment application
5 prepayment unapplication
6 Cancellation
7 Credit/Debit Memo
8 Mixed
9 Prepayment


Payments
1 payment
2 (future dated) payment maturity
3 payment adjustment
4 payment cancellation
5 payment clearing
6 payment unclearing
7 After Clearing
8 Payment is voided

Accounting Entries

Invoice Entry	DR Expenses CR  Accounts Payables
Credit/Debit Memo Entry	Dr   Accounts Payables CR  Expenses
Mixed Invoice Entry	Negative Amount DR  Accounts Payables CR  Expenses Positive Amount DR  Expenses CR Accounts Payables
Prepayment Entry	DR Prepaid Expenses Cr Accounts Payables
withholding tax entry	DR  Withholding Tax Cr Accounts Payables
Invoice cancellation	DR  Accounts Payables CR Expenses
Payment	DR Accounts Payables CR Cash If it is used for cash clearing then DR Accounts Payables(with sep lines of each inv) CR Cash Clearing
After Clearing	DR Cash Clearing CR Cash
when payment is voided	DR Cash Clearing CR Accounts Payables
	When payment is issued DR    AP Liability CR    Future Dated Payment a/c On payment maturity DR    Future Dated Payment a/c CR    Cash Clearing a/c payment reconciliation or clearing in Cash Mgmt DR    Cash Clearing a/c CR    Cash a/c
Future Dated payment	DR  Bank Charges a/c CR  cash a/c