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Topic

    Pritish Ramlugun
    Accounting of InvoicesAnswered
    Topic posted July 25, 2018 by Pritish RamlugunBlue Ribbon: 750+ Points, last edited January 30, 2019, tagged Financials, General Ledger, Payables 
    148 Views, 2 Comments
    Title:
    Accounting of Invoices
    Summary:
    Cancelled invoice being accounted
    Content:

    Hello,

    Please note that am currently on financial fusion r12. When we are creating an invoice, match the invoice with a PO, still not yet validated. Now if I cancel the invoice and run account AP transaction, the cancel invoice is accounted. 

    I have many such scenarios and thus in my PNL I have many negative amount.

    Is this normal in fusion financial r12? 

    Also note that we have accrual at receipt and 3 way matching 

     

    Pritish

    Best Comment

    Neelam Thakur

    Hi Pritish,

    Is your question why is a cancelled invoice being accounted? A cancelled Invoice will always be accounted. If you want to avoid that situation, it is best to see if you can delete the invoice. You can only delete an invoice if no action has been taken on it. So you cannot delete if you have validated it or matched to a PO. In that case your only option will be to Cancel. NA Cancellation will be accounted but the net effect to the balances should be zero create accounting acted like it is supposed to. If you see other wise, it is possible that some corruption happened. I have had two cases of corrupted accounting requiring data fixed by Oracle Support. You should check with support.

     

    Thanks,

    Neelam

    Comment

     

    • Neelam Thakur

      Hi Pritish,

      Is your question why is a cancelled invoice being accounted? A cancelled Invoice will always be accounted. If you want to avoid that situation, it is best to see if you can delete the invoice. You can only delete an invoice if no action has been taken on it. So you cannot delete if you have validated it or matched to a PO. In that case your only option will be to Cancel. NA Cancellation will be accounted but the net effect to the balances should be zero create accounting acted like it is supposed to. If you see other wise, it is possible that some corruption happened. I have had two cases of corrupted accounting requiring data fixed by Oracle Support. You should check with support.

       

      Thanks,

      Neelam

    • Pritish Ramlugun

      Thanks Neelam,

      My only concern is that if I delete the invoice which has a PO matched, What will happen to the PO? Will it be available again to be matched to another invoice?

      Pritish

    • Rohit Aggarwal

      Hi,

       

      If invoice got cancelled and deleted then PO will be open to match.