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Accrual Write-Off Accounting

Summary:

As part of Inventory PO Accrual Write Off using “Adjust Receipt Accrual Balances” feature in Fusion, Oracle creates following Accrual Write-Off Accounting entries:

Note: Assuming PO Qty. Received is 10 with Unit Price as $2.00 & AP Invoice not received from Supplier (PO Accrued at Receipt)

Accounting Event

Accounting Class

Dr

Cr

Acquisition Cost Adjustment

Receiving inspection

$20.00

Acquisition Cost Adjustment

Inventory Valuation

$20.00

Accrual Clearing

Accrual

$20.00

Accrual Clearing

Receiving inspection

$20.00

Our Client does not want Inventory Value to be written-off & instead of Inventory Valuation, it is expected that Write-Off account should be credited (similar to EBS R12 AP-PO Write Off functionality)

Expected Accrual Write-Off Accounting entry:

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