Naveen S

• May 2nd, 2016

AP is overall current liabilities of a co. It includes BP, rent due etc.,
BP is a instrument which in written, accepted by purchasers, on credit purchase of goods or services.

vikas Gupta

• Nov 17th, 2015

I think Bills payable means bills that are pending to be credited to party ledger & accounts payable means the bills already credited to party account & standing for payment to be released on a futuristic date.

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To avoid a recurrence, the Payroll Manager, Mary Arnstein, has asked you to prepare a summary of the CPP reporting requirements on T4 information slips. The summary will be used to validate the current payroll setup to ensure that the T4s will be completed properly in future. Provide information on the CPP related boxes that must be completed, including how any amounts are calculated, for employees...

What does research and resolve exception invoices daily mean?

aneel kumar

• Oct 27th, 2015

If the information on the invoice does not match the information on the PO, an exception invoice occurs. These are two types: 1 Invoice header exception: This occurs information on the invoice he...

ASHISH JHA

• Apr 8th, 2015

If the information on the invoice does not match the information on the purchase order, an exception invoice occurs...

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Answered by: RAVINDRA

• Jan 6th, 2006

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The following are the important steps one should take before approving the payment.

1. Refer the Purchase Order issued.

2. Refer the Goods Received Note (GRN) for having received goods / service as mentioned in the P.O

3. Refer the terms and conditions for making the payment ( any credit period)

4. check the bank balance before approve the invoice for payment.

aneel

• Oct 25th, 2015

After receiving Invoice from vendor, the accounts payable department follow the technique i.e three way match
1) Purchase order - What we ordered
2) GRN - What goods or products we received against PO
3) Invoice - What quantity and price mentioned in PO.
these 3 are reconciled by payable dept.

rajujdv

• May 31st, 2007

1. Invoice Qty   = Goods Received Note2. Invoice Price = Purchase Order Price3. Check whether any Credit Note exists against that vendor4. Check the Ship To address for making correct paymen...

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We have received total 20 invoices for processing and we have accounted all the invoices. Later we came to know that 8 invoices GRN (Goods receipt number) not create/received. How you will treat this invoices.

Gopal

• Oct 13th, 2015

Actually this will not satisfy the either 2 way or 3 way matching. First as we get an invoice for processing we need to check the invoice with GRN if we have received material or not and updated in th...

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Is there a entry for a "Invoice picked for payment"

Manali Mahadik

• Jun 9th, 2015

Yes, we need to MIRO ( in SAP T-Code) invoice to get it processed

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Can we prepare Cash flows with help of TB ?? How we can prepare with example please?

Amir

• May 13th, 2015

YES, 1- T.B is the statement that reflect balances of each specific account on a specific exact date rather then period (usually accounting period end date). 2-Cash flow statement comprises on the ...

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What is VAT (Value Added Tax) in brief ?
Rate, Calculation, Date of monthly payment, Date of Return, Interest on late payment, Penalty on late return.
Also what is cenvat ?

mirza aaftab aalam

• Mar 12th, 2015

WHAT IS TDS

Lalmohan

• Feb 26th, 2015

TDS means tax deduction at source,there are different types of TDS rates are available on the basis of different services under different sections.like professional service salaries.TDS is deducted from basic salaries.there is a slab for minimum charges.

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Alex has noticed a problem with the balance showing in the Notes payable account, according to a statement sent by the Bank the notes in question has a remaining balance 75,000.00 while the G/L shows a $64,000.00 balance. In researching this ALEX finds that the $3,000.00 per month payment was coded entirely to Notes payable and no entry was made to Interest Expense. What entry should ALEX make to correct...

zijing

• Mar 11th, 2015

E

mikeregas

 Profile Answers by mikeregas Questions by mikeregas

• Mar 2nd, 2008

Debit intrest and credit notes payable

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dinesh

• Feb 9th, 2015

First of all we collect all entries from balance sheet and submit the sales tax

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what is the main job roles and duties in AP process

Mirosaan

• Jan 24th, 2015

The basic concept of AP is processing supplier payment. The main task is to process these payment on or before due dates. The sub processes in AP could be maintaining AP ledger, reporting of delayed payments, clearing supplier outstanding statements, etc.

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What is exactly reversal journal entry, for what purpose we are using ?

Seungok

• Jan 12th, 2015

For adjustments

Ofelia

• Nov 26th, 2014

We key this journal entry to include the expense for the month and it reversed when the actual expense comes.

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nayeem

• Nov 12th, 2014

Credit to bank

g.esrayelu

• Nov 10th, 2014

Car a/c dr
to bank a/c

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1. Explain Accounts payable process and its impact to business.
2. What is PO invoice, Non-PO invoice, Intercompany invoice. Explain the difference & list some examples.
3. What is invoice processing ? What are the mandatory fields to be entered while processing invoices.
4. What is GSM and GPM ? Give its abbreviation and explain the concept ?
5. Which version you used...

Dawn al-Matiin

• Oct 23rd, 2014

Correspond invoice with payment

M.L.Srinivas

• Sep 22nd, 2014

Took Requisition from The concerned Departments regarding to the Material Required, And call for the Quotations, Based on the received Quotations Choose the Best of Service Provider, After Goods Recei...

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How to explain mortgage account summary,online pay ,loan pay off in interview

Mahmoud

• Aug 4th, 2014

Accounts Payable Cycle is: 1- End-user requisition of some Materials. 2- Check if the Materials available in the warehouse. 3- If not available, search for a proper vendor on the Tenders Meeting. ...

Biswajit Lenka

• Jan 31st, 2014

To checking the payable invoices and send it to the invoices verification and then send for the period

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arti

• Jul 30th, 2014

Cash A/c- Real A/c- Debit what comes in & credit what goes out.
Cash withdrawn mean cash comes in so it will be debited
Bank A/C- personal A/C - Debit is receiver & Credit is giver
Bank is giver amount so it will be credited

Contra Entry
Dr.Cash A/C
Cr. Bank A/C

Biswajit

• Jan 31st, 2014

In this situation cash a/c is debited and bank a/c is credited and its also a contra entry. contra entry arise when the transaction between made between cash and bank. So the journal entry is cash a...

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Explain End to End AP Process?

vijju

• Mar 19th, 2014

End to End accounts payable process 1. Identify the requirement 2. Vendor search 3. Request for the quotation 4. Evaluation of vendor and selection 5. Contract Negotiation and Implementation 6. Send P...

K Sunil

• Nov 28th, 2013

End to End Process with Accounting Entries : 1. User will raise the Purchase Request to procurement with all the requirements - No accounting entry 2. Based on the procurement policy PO(Purchase Oder...

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