What is meant by Three Way Matching Concept. Which is related to Invoice, Purchase order, Voucher, Vendor

gns.ravi

 Profile Answers by gns.ravi Questions by gns.ravi

• Apr 10th, 2012

3 Way matching means : - Matching the invoice with PO and GR at the same time,
2 Way matching means :- Matching the invoice with PO.

the above two are the matching concepts in AP process

Faisal Azim

• Jul 13th, 2011

Three Way Matching Means invoices ,Delivery and purchase all are same no any difference

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What are the journal entries that will be passing from the Goods received till the payment made to an supplier?

Anitha reddy

• Jan 31st, 2018

Inventory account DR
To, Grin account.

Grin account DR
To, vendor account.

Vendor account DR
To, bank/cash account

Shaz

• Nov 3rd, 2017

Invoice receipt.
Inventory AC Dr
To GR/IR ac.

Goods receipt.
GR/IR Ac Dr
To Supplier/ Vendor Ac.

Paying Invoice.
Supplier/Vendor Ac
To Bank Ac.

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What is golden rule of accounts

Aruneshwari naik

• Jul 15th, 2019

Golden Roles of Accounting:
1) Personal Account:
Debit the receiver
Credit the giver

2) Real account:
Debit what comes in
Credit what goes out

3) Nominal account:
Debit all expenses and losses
Credit all gains and income

Àkash Salve

• Apr 14th, 2019

Real Account-Credit what comes into the business and debit what goes out from the business
Nominal Account-Credit Income and gains and Debit Expenses and losses
Personal Account-Credit to giver and debit to receiver

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