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Invoice process
what is the main job roles and duties in AP process
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Cash flows with help of TB
Can we prepare Cash flows with help of TB ?? How we can prepare with example please?
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Invoice picked for payment
Is there a entry for a "Invoice picked for payment"
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Accounts Payable Related to Invoice Processing
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.
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Post Open Item Balances
How to clear open item balances in account payable?
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Journal Entries of Courier companies
I want to know every journal entry in Accounts Payable process in a courier company?
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What is a Parked Report?
chinnaguntupalli
- Sep 13th, 2009
Parked Report is a summary of the documents parked by different users, Users will Park the data, when they are not sure whether the document entered is correct or not or "when the user uploaded m...
Sarvottam Darshan
- Feb 21st, 2006
You can use document parking to enter and store (park) incomplete documents in the SAP System without carrying out extensive entry checks
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What do you mean by Mischarge Correction?
Cody2727
- May 8th, 2011
A mischarge correction is when the wrong account line was used or the wrong amount was entered.? The account that was wrongly charged needs to be credited and the correct account needs to be debited....
nkamuni_mca
- Mar 3rd, 2010
An expense which is charged to a wrong account is known as Mischarge and correcting this mischarge is known as mischarge correction. An rectification entry needs to be passed to correct the mischarge.
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After raising GR then raise invoice for partial quantity. eg raised GR for 1000 quantity and raised invoiced for 500 quantity. Now if u want to reverse the GR, u have to reverse the Invoice also. If the payment done for the invoice, u cant reverse it. So how can we handle in this situation.
Darvesi Miah
- May 15th, 2009
Even though you have paid the invoice you can reverse the GR. As debiting the supplier and crediting the GR.
Md Imran Siddiqui
- Oct 12th, 2006
For the difference quantity of 500 for GR to PV, we can rasie a Purchase return & send back the goods. For the GR quantity of 500, for which PV is booked & payment is done.we can rasie a sales invoice & then make Receipt entry or rasie a debit memo againt the party.
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Debenture
What is the difference between debenture and preference share
GnanPra
- Dec 19th, 2008
The difference between Debentures and Preferential Shares is as follows: 1) Person holding debentures has owed money to a company, while Preferential Shareholder could be considered as a partial ow...
Nishi Kanti Dey
- Nov 6th, 2008
When the capital of the company is not sufficient to carry on business the company raise loan by issuing what is known as debenture, debenture holder money treated as a loan whereas preference shareho...
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Diff b/w current accout and saving account?
Nishchint_2006
- Jul 14th, 2008
one more difference is overdraft facility available on current account where as no such facility is available in saving bank a/c.The basic difference between saving and current account is that we get ...
SUMMIT NIGAM
- Oct 23rd, 2007
The basic difference between saving and current account is that we get interest on saving account. but we don't get interest on current account . even we have to pay for the transactions. there is lim...
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What happens if A/P on a cash basis shows a huge amount. Shouldn't be zero?
Darvesi Miah
- May 15th, 2009
The A/P department people will take certain limits and measures. They are1. Aging invoice2. Is there any disputes3. Discrepancy'sGenerally Invoices may be paid at the terms and conditions and the same time A/P people try to fully utilise the days, discounts, interest and others
k.venkat ramana
- Mar 21st, 2007
As per income tax rules we cannot pay A.P more than 20000/- at single paymentand also from 01-04-07 it has came to know that expenditures exceeding 20000/- cannot be treated as a expenditure in P&L A/C
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Why does a company/business require an Accounts payables process?
niraj
- Feb 28th, 2013
Accounts payable process is required in a company because this will help and guide the accountant to manage their payables with in the normal course of the business. This includes verifying and checki...
nkamuni_mca
- Dec 30th, 2009
Accounts payable prime responsibility is to pay the vendors who has supplied goods and services on credit.
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What is the Debit Balance recovery? How we can recover if we wont have any future transactions from supplier?
gauravcanada2003
- May 12th, 2010
When payment is made to the wrong vendor or payment made in excess, in that case overpayment has gone to the vendor, so for us it is vendor debit balance.For debit balance recovery, we can either foll...
nkamuni_mca
- Mar 6th, 2010
The Debit balance recovery is usually made by raising a credit memo for the regular vendors. However if there are no future transactions from the supplier, we ask the vendor to send the check / make an EFT for the amount due from him.
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Calculating current liabilities
ABC Trial Balance 12/31/year 1A/P 20,000.00Bonds Payable due year 2 $ 10,000.00Dividends Payable on 02/01/year 2 $5,000.00Income Tax payable$ 15,000.00Notes Payable due 01/15/year3 $ 10,000.00in ABC's 12/31/year 1 Balance Sheet The Current Liabilities total S/B50,000.00 or 60,000.00 or 20,000.00 or 35,000.00 or $0.00
finance_quest
- Nov 25th, 2011
Contingent liability is one kind of provision that company keeps as the safety to meet its unforeseen events.In future any event can come to place such as changes in the value of the foreign currency...
haniabdulrasoul
- Mar 29th, 2008
ABC Trial Balance 12/31/year 1A/P 20,000.00Bonds Payable due year 2 $ 10,000.00Dividends Payable on 02/01/year 2 $5,000.00Income Tax payable$ 15,000.00Notes Payable due 01/15/year3 $ 10,000.00in ABC&#...
Accounts Payable Interview Questions
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