This discussion is archived
0 Replies Latest reply: Aug 28, 2011 12:30 AM by 885004 RSS

Create invoice without receipt

885004 Newbie
Currently Being Moderated
Hi Financial gurus,

In My project we dont maintain Inventory in Oracle.

Will I be able to create supplier invoice and match to PO without receipt - (all are expense and asset items)

Will it affect my accounting factor (like AP Accrual Account)

because the accounting entries are like

1.Receipt

inventory receiving a/c db
AP Accrual a/c Cr

2. Inspect & Accept -> nill

3. Deliver to stock

Inventory a/c db
Inventory receiving a/c cr

4. PO match Invice
AP accural db
supplier liablity a/c cr

5. enter payment
supplier liability a/c db
Cash /bank a/c cr

Because I am going to do only 4 th and 5th step... will it spoil my accounting AP accural balance..

Regads,
DEVA

Edited by: 882001 on Aug 28, 2011 12:29 AM

Legend

  • Correct Answers - 10 points
  • Helpful Answers - 5 points