Accounting Entries In Oracle Apps

Invoices
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Receivables creates the following journal entry:

DR Receivables

CR Revenue

CR Tax (if you charge tax)

CR Freight (if you charge freight

Credit Memos
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Credit Transactions window, Receivables creates the following journal

entry:

DR Revenue

DR Tax (if you credit tax)

DR Freight (if you credit freight)

CR Receivables (Credit Memo)

DR Receivables (Credit Memo)

CR Receivables (Invoice)

Receipts Accounting:
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Setup>Receipts>Receipt Classes
When you enter a receipt and its Unapplied, Receivables creates the following journal entries:

DR Cash

CR Unapplied Cash

When you fully apply a receipt to an invoice, Receivables creates the following journal entry:

DR Cash

DR Unapplied Cash

CR Unapplied Cash

CR Receivables

When you enter an unidentified receipt, Receivables creates the following journal entry:

DR Cash

CR Unidentified



When you enter an on– account receipt, Receivables creates the following journal entry:

DR Cash

CR Unapplied

DR Unapplied

CR On–Account

When your receipt includes a discount, Receivables creates the following journal entry:

DR Receivables

CR Revenue

DR Cash

CR Receivables

DR Earned/Unearned Discount

CR Receivables


At Receipt Class the Remittance and Clearance method is set as Standard and By Matching

Enter the Receipt the entry hits Receipt Confirmation with status of receipt as Confirmed

DR Receipt Confirmation

CR Receivables



Once the receipt is remitted and status becomes "Remitted"

DR Remittance

CR Receipt Confirmation

Once receipt is Cleared

Dr Cash

CR Remittance














ORDER TO CASH ACCOUNTING ENTRIES:

1) AT booking sales order no Accounting Entries are Created.
2) At pick release

             -> Inventory Staging A/c Dr
      to Inventory Finished goods A/c Cr

3) Ship Confirm

                -> COGS A/c Dr
  to Inventory Material A/c Cr

4) Recording Invoice :

                  -> Receivables A/c Dr
                      to Revenue A/c Cr

5(a) : While recording the receipt with no remittance method:

              -> Cash A/c Dr
  to  Un-applied cash A/c Cr ( when the receipt is not yet applied on transaction)


   ->  Un-Applied Cash A/c Dr
         to Receivable A/c Cr         ( when the receipt is applied on transaction) 


 5(b): While recording the receipt  with remittance method :


     -> Confirmed Cash A/c Dr
    to Un-Applied Cash A/c Cr ( when the receipt is not yet applied)

 
        -> Remitted Cash A/c Dr
       to Confirmed Cash A/c Cr ( when cash is sent for remittance)

                                       
              -> Cash A/c Dr
     to Remitted Cash A/c Cr ( after remittance)

                                         
              -> Cash A/c Dr
        to Receivable A/c Cr