Oracle Fusion Functional Workshop

- Inventory and Purchasing-

Procurement Process

 Import Process

 Local Process
Purchasing / Inventory Process

 Create Purchase Order

 Send Approval

 Create Trade Operation

 Receive Goods

 Actual Invoice Received

 Upgrade Trade Operation with actual values

 Transfer Items to MT-Kandy Barge

 Transfer Items to Consumption Tank

Import Process
 Purchase Order Raised for the Supplier
 Item Number – IFO – 380
 Ordered Quantity – 1000 MT
 Supplier – Lanka IOC
 PO Unit Price - 150 USD
 PO Ex Rate : 150

Cost Type Estimated Actual

Insurance Fee 500,000 450,000
Landing Charges 200,000 350,000
 Accounting Entries - Import Purchasing
1. Receipt of Goods
2. Delivery (GRN)
Import Cost Control A/c Inventory Valuation A/c
3. Lanka IOC Invoice
LCM Clear (Insurance) 500,000 Inv Valuation 23,200,000 Imp Cost 23,200,000
((1000*150*150)+500000+200000) 4. LCM Actual Invoice
LCM Clear (Landing) 200,000 LCM Clear (Insurance) 50,000

Accrual (Goods) 22,500,000

Imp.Cont 100,000 5. Inventory Valuation
Inv Valuation 100,000 (150000 – 50000)
LCM Clear (License) 150,000

LCM Clearing A/c AP Accrual A/c

Liability (Goods) 22,500,000 Accrual (Goods) 22,500,000

Imp.Contr (Insurance) 50,000 Imp.Contr (Insurance) 500,000
Imp.Contr(Landing) 200,000
Liability (Insurance) 450,000
Imp.Contr (Landing) 150,000
Liability (Landed ) 350,000
Liability A/c
Accrual (Goods) 22,500,000
LCM (Insurance) 450,000
LCM (Landed ) 350,000
THANK YOU
MCLARENS ORACLE PROJECT