Oracle EBS Procure to Pay (p2p) Accounting Entries

Oracle Purchasing

1. Enter Purchase Order: 

    No accounting generates.

 

2. Enter a Receipt:

    For Inventory, Asset and Expense Items:

        Dr: Inventory Receiving A/c

        Cr: Accrual A/c

 

3.Receiving Transaction: 

   Based on type of item here accounting entry differs

   

Inventory Item:

        Dr: Inventory Valuation A/c

        Cr: Inventory Receiving A/c

   Expense Item:

        Dr: Expense A/c

        Cr: Inventory Receiving A/c

  Asset Item:

        Dr: Asset Clearing A/c

        Cr: Inventory Receiving A/c

 Oracle Payable:

4. Enter Invoice:

        Dr: Accrual A/c

        Cr: Liability A/c

 

5.Payment against Invoice:

        Dr: Liability A/c

        Cr: Bank clearing A/c

Cash Management:

6.Clearing

        Dr: Bank clearing A/c

        Cr: Bank A/c