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Journal Entries-Accounts Payable Process

What are the journal entries that will be passing from the Goods received till the payment made to an supplier?
Asked by: Sathyaswarna.t | Member Since Oct-2009 | Asked on: Oct 11th, 2009

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Showing Answers 1 - 14 of 14 Answers
infantpragash

Answered On : Nov 4th, 2009

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While receiving a Service or Product1. Dr Inventory a/c    Cr Accounts payable a/cCreation of Voucher2. Dr Expenses a/c    Cr Inventory a/cCreation of Payment entry3. Dr Accounts Payable a/c     Cr Bank a/cIf any Purchase Returns4. Dr Accounts Payable a/c    Cr Inventory/Expenses a/c

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MK Rao

Answered On : Dec 8th, 2009

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While create receiving itemsReceiving Inventory account A/C DRInv Ap Accrual A/CWhile deleivering items to Sub InventoryMaterial A/c DrReceiving INV A/cWhile crat invoice in APInventory ap accrual A/CDRAccounts Paybles OR liability A/cWhile making PaymentLiability A/c DrCash clearing A/cWhile reconsile paymentscash clearing A/C DRCash A/cAll the above entries are for P2P Cycle

  
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thirupathi

Answered On : Aug 11th, 2011

Purchaser a/c Dr.
To Supplier a/c

  
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Baljinder

Answered On : Aug 17th, 2011

Purchasing goods on credit
Inventory........Dr
Accounts payable....Cr

Paying to Accounts Payable
Accounts Payable.....Dr
Cash/Bank.......Cr

returning Material to supplier
Accounts Payable .....Dr
Inventory...........Cr

  
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Hari Prasad

Answered On : Sep 2nd, 2011

Invoice Raised :

Stock..............Dr
GRNI ............Cr

Invoice Processed :

GRNI..........Dr
Vendor..............Cr

Invoice Paid:

Vendor ..................Dr
Bank.............Cr

  
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syed

Answered On : Sep 9th, 2011

Purchase a/c dr
To vendors a/c

  
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NAVEEN NEGI

Answered On : Sep 13th, 2011

Purchase A/C Dr

To Suppliers A/C


Suppliers A/C Dr
To Bank A/C

  
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albadar08@rediffmail.com

Answered On : Oct 1st, 2011

DR CR.

Goods A/C 00.00

Cash / Bank A/C 00.00

  
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Sandeep Kumar

Answered On : Nov 17th, 2011

Accounting entries for AP strats once Matching Process In PO has been Done

1.After Delivering Of Goods Our Inv Increases,So

Acc.Inv A/C.......Dr
To Acc Expenses A/C

Once Goods Sent Appropriate Department in Org At that time

Acc Expenses A/C ....Dr
To Acc Liability A/C

After this we will create the invoice at that time

Acc Liability A/C........Dr
To Liability A/c

Once we made the payment At that time

Liability A/C.........Dr
To Bank A/c

Once Payment Remitted in Bank At that time

Bank A/C........Dr
To Cash A/C

  
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gns.ravi

Answered On : Apr 10th, 2012

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Entries in Accounts payable process:

Inventry A/c Dr
To GR / IR A/c
(Being Goods received)

GR / IR A/c Dr
To Vendor A/c
(Being invoice received)

Vendor A/cDr
To Bank A/c
(Being payment made)


  
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shankar

Answered On : Aug 20th, 2012

Dep a/c dr
to machinery account

  
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mallika

Answered On : Dec 10th, 2013

GOODS/INVENTORY A/C....DR
GR/IR A/C................................CR
(being goods recvd),

GI/RI A/C ....DR
VENDOR A/C....CR
(being invoice recvd ),

VENDOR A/C ....DR
BANK CLEARING / CASH A/C...CR
(being payment made ) ,

BANK CLEARING A/C...DR
BANK A/C.......................CR
( being bank reconciliation )

  
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veena

Answered On : Jan 1st, 2014

Entries in Accounts payable process :
Inventry A/c Dr
To GR / IR A /c
( Being Goods received)
GR / IR A /c Dr
To Vendor A /c
( Being invoice received )
Vendor A /cDr
To Bank A /c
( Being payment made )

  
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P MUNISEKHAR

Answered On : Aug 21st, 2014

Inventary a/c dr to account payable a/c

  
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