Procurement - EBS (MOSC)

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Unclaimed Monies - Supplier Liquidated

edited Aug 18, 2017 5:04AM in Procurement - EBS (MOSC) 2 commentsAnswered ✓

Hi Experts

Our business has a requirement how to deal with suppliers that have been liquidated

Scenario:

1) Business placed order with supplier - PO send to supplier

2) Supplier delivers the goods

3) Receiving Clerk GRV goods in Oracle therefore creating an accrual

4) Accounting GL entries cr. Accrual & dr. Expense

5) Subsequently supplier been liquidated - No Invoice captured as yet (supplier handed over to liquidation company)

6) Liquidator now collects on behalf the supplier that has been liquidated

7) Liquidator Invoice our business - not the supplier

8) Pay Liquidator - not the supplier that has been liquidated

Business Requirement:

Business want to know how can we clear the accrual account transferring the amount sitting in the accrual account to an Unclaimed Monies Account without manual journal in GL?

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