AP entries gets generated when GRN are prepared hence showing the Credit balance in vendor accounts.
Credit Balance is outstanding payment the needs to be paid.
Booking of correct expenses with merging the old data. We get the accurate expense details.
siva
Dec 27th, 2015
I want more information about accounting and finance
nishant tyagi
Mar 9th, 2017
1. Inventory Receiving A/C Dr.
To Accrual/Goods Clearing
2. Accural/Goods Clearing A/c Dr
To Accounts payable
3. Accounts payable a/c Dr.
To Bank Clearing A/c
4. For Reconciliation-
Bank clearing A/c Dr.
To Bank A/c
Accounts Payable Entries
Also what is Credit balance?
How is your Team helps in generating revenue to the company?
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