invoice details in AR AND AP MODULES

Oracle Apps Interview Questions › Category: Payables › invoice details in AR AND AP MODULES
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Anonymous asked 9 years ago

what is the diffrence between invoices in AP and AR modules? can anyone tell me in detail

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Shailender Thallam Staff answered 9 years ago

AP invoice shows the amount of money the company owes to others because it purchased goods or services, AP invoice is a liability to the company.

AR invoice shows the amount of money the company should collect because it sold goods or services. AR invoice is an Asset to the company.