Skip to main content
What are the order to cash accounting entries and where are they defined in fusion for the following scenarios:

1. Processing a Sales Order: When item is available in inventory and shipped to customer
2. Processing a Back to Back Sales Order: When item is not available in inventory and we request our supplier to ship item in our inventory and once they are received and available in inventory they are shipped to customer
3. Processing a Drop Ship Sales Order: When item is not available in inventory and we request our supplier to ship item directly to customer on our behalf.



3) Drop ship  Order Shipment :

1) Deferred COGS Account Dr.
             To Inventory Account


On Creation of the Revenue Invoice :    ( Entry 1 recognizes the revenue and Entry 2 below reverses the deferred COGS and books the amount to COGS)


1) AR Clearing Account  Dr.
                  To Revenue Account

2) COGS Account Dr.
               To Deferred COGS

On  Creation of AR Invoice (From the Consolidation Billing Tool)

1) Receivables Account Dr.
                   To AR Clearing Account


All Accounting Entries Generated in Costing.
Event
Debit Account
Credit Account
Sales order issues itemDeferred Cost of Goods SoldInventory
Customer is billedReceivablesDeferred Revenue
Revenue is recognized (A/R)Deferred RevenueRevenue
Costing recognizes COGSCost of Goods SoldDeferred Costs of Goods Sold
Reversal Events
Revenue recognition reversedRevenueDeferred Revenue
COGS recognition reversedDeferred Costs of Goods SoldCost of Goods Sold
Labels:

Comments

  1. UnknownMarch 3, 2020 at 4:22 PM

    If you're trying hard to burn fat then you have to try this brand new tailor-made keto meal plan diet.

    To produce this service, licensed nutritionists, fitness trainers, and chefs united to provide keto meal plans that are powerful, painless, economically-efficient, and satisfying.

    From their first launch in early 2019, thousands of people have already completely transformed their figure and health with the benefits a proper keto meal plan diet can offer.

    Speaking of benefits: clicking this link, you'll discover 8 scientifically-confirmed ones given by the keto meal plan diet.

    ReplyDelete

Post a Comment

Popular posts from this blog

Oracle Subledger Accounting (SLA) Tables, Views

Oracle Subledger Accounting (SLA) Tables, Views Oracle Subledger Accounting Tables: TABLE NAME DESCRIPTION XLA_AAD_GROUPS The XLA_AAD_GROUPS table stores the merge dependencies analyzed during the merge analysis.  All application accounting definitions with the same GROUP_NUM must be merged together. XLA_AAD_HDR_ACCT_ATTRS The XLA_AAD_HDR_ACCT_ATTRS stores standard, system and custom sources assigned to an accounting attribute at the AAD level. XLA_AAD_HEADER_AC_ASSGNS Store the analytical criteria for the application accounting definitions. XLA_AAD_LINE_DEFN_ASSGNS This table stores the journal lines definitions for the application accounting definitions. XLA_AAD_LOADER_DEFNS_T The XLA_AAD_LOADER_DEFNS_T table is the interface table that facilitates the data transfer from data files and the database. XLA_AAD_LOADER_LOGS The XLA_AAD_LOADER_LOGS table stores the errors and logs generated by the application accounting definitions loader. XLA_AAD_SOURCES XLA_AAD_SOURCES table stores a...
1 comment
Read more

Oracle Fusion Cloud: Supplier Import Process using File Based Data Import (FBDI)

 Supplier Data Migration or Upload to Oracle Fusion environment File-Based Data Import for Oracle Procurement Cloud Supplier import in oracle fusion   In this post , We will discuss about Supplier import in oracle fusion. Oracle has provided the FBDI tool to import suppliers from External  Source  to the Oracle fusion. Supplier Import in Oracle fusion we first need to  Download  the Supplier Import FDBI  templates  given by the Oracle fusion to import suppliers. Oracle has given 5 Different FBDI templates to Import supplier in Fusion. Here in this post , I will share the Complete steps for Supplier import in oracle fusion. You can refer this post for Supplier Import.   Steps for Supplier import in oracle fusion     Step1- First we need to download Supplier Data  Template  from Oracle Repository. Go to this path for Oracle Repository. ( select Based on your Cloud version) https://docs.oracle.com/en/...
Post a Comment
Read more

Unbilled Receivables and Unearned Revenue Accounting in Oracle Projects

Unbilled Receivables and Unearned Revenue Accounting in Oracle Projects Introduction When it comes to contractual billing, invoice and revenue generation are two separate processes, which during the lifespan of a project may or may not always coincide with each other and so do the balances in revenue and receivables accounts.  This interim difference between revenue and invoice account balances is bridged using Unbilled Receivables (UBR) and Unearned Revenue (UER) Accounts. Unearned Revenue (UER) Unearned Revenue (also termed as deferred revenue or UER) signifies money received for the goods or services, which are yet to be delivered.  As per the principles of Revenue Recognition, UER is recorded as on the balance sheet unless it is converted to Revenue upon delivery of goods or services For Example XYZ Consulting Ltd. receives an annual maintenance contract of $ 12,000 on Dec 31, 2014 for the period of Jan 01, 2015 to Dec 31, 2015. At the start of the contract as of Dec 31, 2...
2 comments
Read more