1. Using Assets
  2. Example of Primary and Secondary Clearing Accounts Reconciliation for Oracle Payables Asset Additions

Example of Primary and Secondary Clearing Accounts Reconciliation for Oracle Payables Asset Additions

This example shows sample accounting entries for asset additions from Payables invoices.

This example uses the following currencies:
  • Primary ledger currency: CAD
  • Secondary ledger currency: USD
  • Entered currency: EUR

Primary Ledger Journal Entries:

Sample Accounting Entry in Payables for Invoice Accounting in the Primary Ledger

Account Debit (Entered -EUR) Credit (Entered -EUR) Debit (Accounted - CAD Credit (Accounted - CAD
Cost Clearing 1000.00 1563.45
Liability 1000.00 1563.45

Sample Accounting Entry in Assets for Asset Additions Accounting in the Corporate Book for the Primary Ledger

Account Debit (Accounted - CAD) Credit (Accounted - CAD)
Cost 1563.45
Cost Clearing 1563.45

Secondary Ledger Journal Entries:

Sample Accounting Entry in Payables for Invoice Accounting in the Secondary Ledger

Account Debit (Entered -EUR) Credit (Entered -EUR) Debit (Accounted - USD) Credit (Accounted - USD)
Cost Clearing 1000.00 1420.70
Liability 1000.00 1420.70

Sample Accounting Entry in Assets for Asset Additions Accounting in the Tax Book for the Secondary Ledger After Running the Perform Periodic Mass Copy Process

Account Debit (Accounted - USD) Credit (Accounted - USD)
Cost 1420.70
Cost Clearing 1420.70