Rama started one business capital 1,00,000. Established one product at cost 82250, another one product established 18550. He sold both items 120000, debit 12500, rent 13500. What is the general entry?

Pranav Gupta

• Feb 2nd, 2021

At sales: Debtor A/C Dr - To Sales A/c, on BR receiving, BR A/C Dr - To Debtor A/c and finally on Cash receive, Cash/Bank A/C Dr. - To BR A/C

jassim jalaludeen

• Dec 28th, 2015

1. For Capital
Bank/Cash ac Dr 100000
To capital ac Cr 100000.

2. Brought stock
Stock A/c dr. 82250
Stock a/c Dr. 18550
To Cash/Bank 100800.

3. Cash/Bank a/c dr. 120000
To Revenue a/c cr. 120000

4. Cost of good sold a/c Dr. 100800
To stock a/c Cr. 100800.

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What is the AR cycle with accounting entires step by step

PJR

• Jun 20th, 2019

Sales term
Credit term
Data management
Order management
Billing
Cash application
Collections
Deductions

Narasimha

• May 9th, 2019

Accounts receivable cycle:
1 order Management
2 credit Management
3 Billing
4 cash application
5 cash collection
6 disputes
7 Analysis and reports

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VEERA

• Apr 1st, 2019

First inform to the customer regarding that payment received status. After the adjust all the invoices and provide the updated SOA to the customer . If any disputes pass the receipt entry or adjust the invoices details means check with related team and pass the rectify entry.

mohamed

• Apr 1st, 2018

After Receiving Payment from Customer, What is next step till finalization?

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Mrinava Chakraborty

• May 16th, 2018

The cycle is as follows :
1. Sales (getting into a contract)
2. Master data management
3. Credit review
4. Order Management
5. Billing and invoicing
6. Cash Application
7. Collections
8. Deductions

Ganesh

• Feb 6th, 2015

Review of the product ->quotation->order to goods ->create the sales order->delivery the goods -> create the invoice Bill -> order to cash ->

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Ajay

• Jan 27th, 2018

Heavy expenditure incurred on advertisement for which the benefit is enjoyed by the company in the future years.

Ajayi

• Jun 21st, 2017

Purchase of equity shares. Is it deferred revenue expenditure

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What is the journal entry process from the time of generating an invoice to receiving payment?

Harjeev

• Nov 6th, 2017

Customer to revenue

Navabjanm

• Jul 20th, 2015

Hi, barbett there are two conditions that occur when we raise the invoice to the customer. 1. When we make a sale then we raise the invoice to get the payment that is receivable. 2. When we provide ...

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When i was running 'Dunning letter print specific invoice' report it is giving empty output for specific invoice numbers..

tej

• Oct 20th, 2017

Dunning letter is letter to notification sent to customer stating that the customer is overdue in paying & account receivable sender

PRATEEK SINGH RAGHAV

• Jul 14th, 2016

What is a dunning letter? A dunning letter is a notification sent to a customer, stating that the customer is overdue in paying an account receivable to the sender. Dunning letters typically follow a...

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Hi,
I want details about Accounts Receivables process cycle(From starting to end) ,Journal entries used in Accounts Receivables,& SAP T-Codes of Accounts Receivables

Rahul Jain

• Sep 20th, 2017

It is basically is O2C cycle that completes with 8 different stages
Sale- Credit- master data- Order management- Billing - Collections- Cash application- deduction

Sourav

• Feb 16th, 2017

Step-1 Sales order (VA01) No accounting entry Step-2 Checking for Stock (MMBE) Step-3 Initial Stock upload (MB1C) Inventory fg a/c Dr Initial stock upload C...

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What is O2C, P2P, R2c. Please Explain Detail Process

Rahul Jain

• Sep 20th, 2017

OTC :- Order to cash
P2P:- Procure to Pay
R2R:- Report to Record

MD Rafique ansari

• Feb 25th, 2017

O2C = Order to Cash
P2P = Promise to Pay/Procure to Lay
R2C = Record to Customers
R2R = Record to Report

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What are the KPI of Order to Cash Process?

Rahul Jain

• Sep 20th, 2017

KPI is Key performance indicators.

Regan Rodrigo

• Apr 2nd, 2017

O2C is really a "big" program to enable systematic approach which will help to materialise the right RoI from every phase of starting from Order to Revenue Materialize. (Opportunity Management, Delive...

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Why do companies prepare Bank Reconciliation Statement? what is the use of it?

Gali Manoj

• Aug 30th, 2017

BRS may be defined as the statement showing the difference between the Cash Book and Pass Book
The BRS process helps to identity the errors omitted either in cash book or pass book
BRS may also show any delay in the clearance of cheques.

shahim

• Aug 27th, 2017

First we credit the amount to customer ac and debt to bank ac, once bank reco we understand how many double entry and how many payment realized in companies bank ac

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How important does Accounts receivable for small business and why?

Ajayi

• Jun 21st, 2017

Import duty and freight cost #18,000 on machinery purchased from Germany. Is deferred revenue expenditure or revenue expenditure or capital expenditure

Keshoo Sharma

 Profile Answers by Keshoo Sharma Questions by Keshoo Sharma

• Feb 8th, 2008

Accounts Receivables help small businesses by providing short-term liquidity. Also, continued sales on credit provide the much needed continuity for small businesses.

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A business sells products for $ 50000 on credit
25% of the balance is received cash and 10 by cheques
5% of the balance has become irrecoverable and write off
A provision of 5% is made for the remaining balance in year one and 3% in year 2 where the balance remain unchanged. Pass Journal Entry for this Scenario

Raemsh

• Apr 30th, 2017

Particular Dr Cr Customer A/C 500,000.00 To Sale A/C 500,000.00 Cash A/C 125,000.00 To Customer A/C 125,000.00 Bank Account 50,000.00 To Customer A/C 50,000.00 ...

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Sreesna

• Apr 17th, 2017

Account receivable is a business transactions where customer owes money to the business and the main components of AR is credit analysis, invoice, cash application and customer.

aneel

• Oct 27th, 2015

Accounts receivables are current assets to the company which will fulfill current obligations of the company within one year. Company can take short term loan against Account Receivables. Company ...

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Can Credit memo be imported and applied to the transactions via Auto invoice

Navneet Sinha

• Nov 4th, 2016

Yes, Credit memos can be imported and applied to invoices via autoinvoice. We call then as return sales order. Suppose you have an invoice(i.e A) of 100 INR and this invoice has been imported through ...

Rakesh

• Sep 10th, 2015

Credit note is nothing but cancelling the original invoice due to changes are required regards to Amount, Qty. etc.

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How to create Inter company through AR invoice with screen shots?

Nominal,personal,real

swetlana bakshi

• May 18th, 2016

Rules of debit and credit under traditional approach:

PERSONAL ACCOUNTS: Debit the receiver (of benefit), and credit the giver (of benefit).

REAL ACCOUNTS: Debit what comes in, and credit what goes out.

NOMINAL ACCOUNT: Debit all expenses and losses and credit all incomes and gains

pradeep kumar

• Apr 14th, 2016

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 incomes and gains.

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One cheque was issued and not cashed before six months from the date of issued due to the request made. now the limit of six month is over.in such case what is the remedy?

PRADEEP KUAMR GIRI

• Jun 6th, 2015

We can take back the old cheque from client and upon client request we can issue new cheque or pay by cash.
Note: Before issuing new cheque or making payment by cash we need to first read the Payment Terms & Condition.

SAI RAMESH

• May 31st, 2015

Place stop cheque and credit customer account and debit bank (GL)

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What is the difference between unearned revenue and unbilled receivables?

kirti

• Apr 11th, 2015

Unearned revenue refers to amounts received prior to being earned.
Unrecorded revenue with revenues that were earned, but not yet recorded in a company's accounting records

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What are the powerful softwares that could be used for doing efficient Accounts receivable?

J Ravi Chandran

• Oct 12th, 2014

It depends upon the business & Commonly Tally being used in all business

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