P2P Journal Entries in Fusion

1. Purchase Requisition no JE
2. Request for Quotation no JE
3. We prepare a Purchase Order against best RFQ no JE
4. Goods Receipt(You receive the goods enter a Goods Received Note (GRN) in Oracle Purchasing)
               Receiving Inventory A/c…………….Debit (Picks from Receipt Accounting options)
               AP Accrual A/C………Credit (Picks from Accrual Account of PO-TAB/TAD)
5. When we are moving the Goods from Staging area to Sub-Inv or Delivery happens/ Put Away
               Material A/C..............Debit (Picks from Charge Account of PO-TAB/Cost Accounting Options)
               Receiving Inventory A/C......Credit (Picks from Receipt Accounting options)
6. While Creating the Invoice
               AP Accrual A/c………….Debit (Picks from Accrual Account of PO-TAB/TAD)
               Liability(Supplier) A/c…………..Credit (Picks from Supplier Site/Common Options)
7. While making payment to supplier
               Liability(Supplier) A/C…………… Debit (Picks from Supplier Site/Common Options)
               Cash Clearing A/c…………….Credit (Picks from Bank Setup)
8.When reconciling
               Cash Clearing A/C...................Debit (Picks from Bank Setup)
               Cash A/C..........................................Credit (Picks from Bank Setup)