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?

Questions by Sathyaswarna.t

Showing Answers 1 - 14 of 14 Answers

While receiving a Service or Product
1. Dr Inventory a/c
    Cr Accounts payable a/c
Creation of Voucher
2. Dr Expenses a/c
    Cr Inventory a/c
Creation of Payment entry
3. Dr Accounts Payable a/c
    Cr Bank a/c
If any Purchase Returns
4. Dr Accounts Payable a/c
    Cr Inventory/Expenses a/c

MK Rao

  • Dec 8th, 2009
 

While create receiving items

Receiving Inventory account A/C DR
Inv Ap Accrual A/C
While deleivering items to Sub Inventory
Material A/c Dr
Receiving INV A/c
While crat invoice in AP
Inventory ap accrual A/CDR
Accounts Paybles OR liability A/c
While making Payment
Liability A/c Dr
Cash clearing A/c
While reconsile payments
cash clearing A/C DR
Cash A/c
All the above entries are for P2P Cycle

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thirupathi

  • Aug 11th, 2011
 

Purchaser a/c Dr.
To Supplier a/c

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Baljinder

  • 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

  • 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

  • Sep 9th, 2011
 

purchase a/c dr
To vendors a/c

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NAVEEN NEGI

  • 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

  • Oct 1st, 2011
 

DR CR.
Goods A/C 00.00
Cash / Bank A/C 00.00

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Sandeep Kumar

  • 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

  • Apr 10th, 2012
 

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

  • Aug 20th, 2012
 

dep a/c dr
to machinery account

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mallika

  • 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

  • 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

  • Aug 21st, 2014
 

inventary a/c dr to account payable a/c

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