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Flow of accounting information in Procure to Pay Cycle If you are implementing the Procure to Pay Cycle in Oracle Apps, you might have come across the following accounting activities: 1. Run the Create Accounting program after creating an invoice to post entries to the General Ledger 2. Run the Create Accounting program after making payments to post entries to the General Ledger. As a newbie consultant, I always used to wonder why someone would have run the accounting entries twice. If you are one of the professional consultants or belong to the Chartered Accounting fraternity, you may already know the answer. Else, read on.. 1. The reason for creating accounting entries after creating an invoice is to ensure that the General Ledger is updated with the correct accounting information for the following 2 types of accounts: a) Accounts Payable A/C b) Merchandise A/C (incase of goods purchased) or Expense A/C (in case of expense) When a supplier invoice is created, the business is...

Transactions Accounting: Accounting setups: 1. Define Receivable and Revenue Account for Transaction Type like Invoice,Credit Memo,etc.     Navigation     Setup>Transactions>Transaction Types 2. Define AutoAccounting which determines defaulting rules for each segment of different Accounts like     Receivable, Revenue, Tax, etc     Setup>Transactions>AutoAccounting Accounting entries: Below are Transaction Accounts that are hit for Transaction like Invoices and Credit Memos Invoices When you enter a regular invoice through the Transactions window, Receivables creates the following journal entry: DR Receivables CR Revenue CR Tax (if you charge tax) CR Freight (if you charge freight Credit Memos When you credit an invoice, debit memo, or charge back through the Credit Transactions window, Receivables creates the following journal entry: DR Revenue DR Tax (if you credit tax) DR Freight (if you credit freight) CR Receiva...

order to cash process steps can be listed as below Enter the Sales Order Book the Sales Order Launch Pick Release Ship Confirm Create Invoice Create the Receipts either manually or using Auto Lockbox ( In this article we will concentrate on Manual creation) Transfer to General Ledger Journal Import Posting Watch o2c Video: Order to Cash cycle Video Query: Order to Cash query Let’s get into the details of each step mentioned above. Enter the Sales Order: Navigation:  Order Management Super User Operations (USA)>Orders Returns >Sales Orders Enter the Customer details (Ship to and Bill to address), Order type. Click on Lines Tab. Enter the Item to be ordered and the quantity required. Line is scheduled automatically when the Line Item is saved. Scheduling/unscheduling can be done manually by selecting Schedule/Un schedule from the Actions Menu. You can check if the item to be ordered is available in the Inventory by clicking on Availability Button. Save the work....

A quick summary of accounting entries in Order to Cash cycle     Sales order creation – No entries     Pick release:     Inventory Stage A/c…………………Debit     Inventory Finished goods a/c……..Credit     Ship confirm:     Cogs A/c ……………………………Debit     Inventory Organization a/c………Credit     Receviable:     Receviable A/c………………………Debit     Revenue A/c………………………Credit     Tax ………………..…………………Credit     Freight…………..….……………….Credit     Cash:     Cash A/c Dr…………………………Debit     Receivable A/c……………………….Credit ---------------------------------------------------------------------------  For Order to Cash Entries. Step 1: Sales order creation - No entries Step 2: Pick release : Inventory Stage A/c Dr To Inventory Finished goods a/c Step 3:...

Base Tables for Order to Cash (O2C) Cycle in Oracle Apps 1. Order Entry This is the first stage where Order is entered into the system. It creates a record in Headers table and Lines table OE_ORDER_HEADERS_ALL: This table stores the Header Information of the Sales Order Important columns in this table: HEADER_ID: Unique system generated ID ORG_ID, ORDER_NUMBER, SHIP_FROM_ORG_ID, SHIP_TO_ORG_ID and FLOW_STATUS_CODE At the time of Order Entry, the FLOW_STATUS_CODE is ‘Entered’ Sample code: SELECT HEADER_ID, ORG_ID, ORDER_TYPE_ID, FLOW_STATUS_CODE, TRANSACTIONAL_CURR_CODE, SHIPPING_METHOD_CODE, SHIP_FROM_ORG_ID, SHIP_TO_ORG_ID FROM OE_ORDER_HEADERS_ALL WHERE ORDER_NUMBER= 66405; OE_ORDER_LINES_ALL: This table stores the Line Information of the Sales Order Important columns of this table LINE_ID: Unique system generated ID HEADER_ID: It is the link between OE_ORDER_HEADERS_ALL and OE_ORDER_LINES_ALL ORDERED_ITEM, INVENTORY_ITEM_ID, PRICING_QUANTITY, ORDERED_QUANTITY, FL...