Accruals Entries

If there is oustanding payments, we have to pass accural enteries. So what are the enteries for accurals?

Questions by shanid

Showing Answers 1 - 3 of 3 Answers


  • Apr 20th, 2009

According to matching principle, all expenses and revenue must be recorded at the period where they are realised. So to create accrual we debit the expense for example recording telephone expenses that was not passed to the GL we debit tele exp and credit Accrual payable.


  • Feb 22nd, 2013

3050000 account debit
To customer account credit

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