Interview Questions Answers.ORG
Interviewer And Interviewee Guide
Interviews
Quizzes
Home
Quizzes
Interviews DB Oracle Interviews:Concepts and ArchitectureData AccessDatabase ArchitectureDatabase ManagementDatabase Security OracleDistributed ProcessingFlexfieldForms ReportsGeneral OracleMemory ManagementMTO-SAP Financial AccountingOCIOracle AOLOracle AROracle Backup RecoveryOracle D2KOracle DatabaseOracle Database DeveloperOracle DB OptimizationOracle DBAOracle DeveloperOracle ETLOracle Forms 3.0Oracle Forms 4.0Oracle GLOracle PL-SQLOracle RMANOracle ScenariosOracle SecurityOracle SQLOracle System ArchitectureOracle Technology Network (OTN)Programmatic ConstructsRAC (Real Application Clusters)SQL Plus
Copyright © 2018. All Rights Reserved
Oracle AR Interview Question:
Explain Accounting for invoice in Advance and Arrears?
Submitted by: AdministratorAccointing for invoice in advance
a) Receivable A/c .....................Dr.
To Unearned revenue a/c
(when we raise the invoice with invoicing rule as advance)
b) Unearned Revenue A/c .............. Dr.
To Revenue A/c
(when we receive the payment, the number of journal entry (b) is depend upon the accounting rules which can be fixed or variable)
Accounting for invoice in arrear
a) Unbilled receivable a/c ....................Dr.
To Revenue a/c
(when we receive the payment of unbilled invoice, the number of journal entry (a) is depend upon the accounting rules which can be fixed or variable))
b) Receivable a/c .........................Dr.
To Unbilled receivable a/c
(when we raise the invoice, with invoicing rule arrear)
Submitted by: Administrator
a) Receivable A/c .....................Dr.
To Unearned revenue a/c
(when we raise the invoice with invoicing rule as advance)
b) Unearned Revenue A/c .............. Dr.
To Revenue A/c
(when we receive the payment, the number of journal entry (b) is depend upon the accounting rules which can be fixed or variable)
Accounting for invoice in arrear
a) Unbilled receivable a/c ....................Dr.
To Revenue a/c
(when we receive the payment of unbilled invoice, the number of journal entry (a) is depend upon the accounting rules which can be fixed or variable))
b) Receivable a/c .........................Dr.
To Unbilled receivable a/c
(when we raise the invoice, with invoicing rule arrear)
Submitted by: Administrator
Copyright 2007-2024 by Interview Questions Answers .ORG All Rights Reserved.
https://InterviewQuestionsAnswers.ORG.
https://InterviewQuestionsAnswers.ORG.