(This can also be recorded at a particular vendor level, in this case the vendor who has raised the invoice will be credited)
At the time of paying an invoice
Accounts Payable A/C Debit
To Cash or Bank A/C Credit
(This can also be recorded at a particular vendor level, in this case the vendor paid will be debited)
manohar
Dec 22nd, 2017
Debit to Vendor A/c
Credit to Bank A/c
Mahesh
May 15th, 2018
For goods receiveing
Inventory a/c Dr..
To GR/IR a/c..
For invoice posting or process
GR/IR a/c Dr..
To vendor a/c...
For payment
Vendor a/c Dr...
To cash/bank a/c...
praveen
Dec 5th, 2018
Inventory to GRIR
GRIR to vendor
Vendor to PIT (payment in transit account - Payment run)
PIT to Bank
Journal Entries of AP, P2P cycle
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