Procure to Pay Cycle

PO Receipt to Receiving Inspection

Dr Receiving Inspection A/c
Cr Inventory A/P Accrual A/c
Delivery From Receiving Inspection to Inventory
Dr
Organization Material A/C
Cr
Receiving Inspection A/C
Cr
Material OH Absorption A/C
Dr/Cr Purchase price variance A/C

Match , Approve & Post Invoice

Dr
Inventory A/P Accrual A/C
Dr/Cr Invoice Price variance A/C
Cr
Sundry Creator A/C
Pay to Supplier
Dr
Cr

Sundry Creator A/C

Cash/Bank A/C

Inventory-WIP-FG Cycle
Material issue to job

WIP to FG Store

Dr Receiving Inspection A/c

Cr Inventory A/P Accrual A/c

Dr
Cr

Organization Material A/C

WIP Material Valuation A/C

Dr
Cr

Organization Resource A/C

WIP Resource Valuation A/C

Dr
Cr

Organization Overhead A/C

WIP Overhead Valuation A/C

Resource Absorption
Dr
Cr

WIP Resource Valuation A/C

Resource Absorption A/C

Overhead Absorption
Dr WIP Overhead Valuation A/C
Cr Overhead Absorption A/C

Outside Processing Transactions

Dr
WIP OSP valuation A/C
Cr
Receiving A/C
Dr/Cr Purchase Price Variance A/C

Job Closed
Dr
Cr

Material usage variance A/C

WIP Material Valuation A/C

Dr
Cr

Resource effy. variance A/C

WIP Resource Valuation A/C

Dr
Cr

Overhead variance A/C

WIP Overhead Valuation A/C

Scrap Transactions
Dr
Cr

Scrap A/C
WIP valuation A/C

FG to Customer Receipt Cycle

Sales Order Shipments
Dr
Cr
Cr
Cr

COGS A/C
Organization
Organization
Organization

Material A/C
Resource A/C
Overhead A/C

Generate customer billing

Dr
Cr

Organization Receivable (Sundry Debtor) A/C

Sales A/C

Customer Payment
Dr Bank A/C
Cr Organization Receivable (Sundry Debtor) A/C

Receive Customer return

Dr
Dr
Dr
Cr

Organization material A/C

Organization resource A/C
Organization overhead A/C
COGS A/C