For Non-PO invoices, who will determine the CC, GL, Profit Center, WBS elements imprinted on the invoice?

Vikas

• Nov 22nd, 2019

Thanks for the answer, but my question is, who writes the coding details on the invoices, that we process. I have often seen, the sometime the same coding details exists in the PO assignment tab, and which team enters in the PO.

Arshad Ayub

• Oct 27th, 2019

Based on parameters, GL coding matrix previously done the expense n cost will be hit to particular plants/cost centers

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What items of information do you need before you can approve an invoice for payment?

Murugan L

• Jan 11th, 2012

1. Date
2. Invoice No
3. Vendor Name
4. Tin No
5. Total Amount calculated correctly or not
6. Signature of inventry handler (who taking care of material receiving, Goods Receiving Note)
7. Materials quantity and quality must tally with purchase order
8. and tax details.

molabanti

 Profile Answers by molabanti Questions by molabanti

• Nov 11th, 2011

From the following points normally we observe

Invoice Date
Invoice Number
Vendor Name
Vendor Address
Quantity of Stock
Total Price
Vendor Signature
Net Price
Original Invoice
Security Seal
Pass in Seal
Tax Code

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subbop

 Profile Answers by subbop Questions by subbop

• Aug 7th, 2009

It is process of analyzing two or more statements of account records. If any difference exist between them, finding the cause and bringing the statements into agreement and ensuring the reliability.&n...

Rajeshwari

• Apr 3rd, 2007

   It is a statement prepared for the purpose of reconciling or agreeing the cash book balance with the pass book balance by making sutiable adjustments for the items responsible for the disagreement

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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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What type of account appear on a post closing trial balance?a) income statement accountsb) balance sheet accountsc) cash flow accountsd) temporary owner's equity accounts

bandari.r

 Profile Answers by bandari.r Questions by bandari.r

• Jul 31st, 2008

Income/Expense statement sheet Net Profit as the balancing item and this will be taken as Net Profit in Balance Sheet

jansiranishanmugam

 Profile Answers by jansiranishanmugam Questions by jansiranishanmugam

• Jul 28th, 2008

Cash flow accounts

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How to pass a JV when we receive bill including service tax? How to close this a/c?

bhardwaj.anit

 Profile Answers by bhardwaj.anit Questions by bhardwaj.anit

• Aug 23rd, 2010

If we can cliam Service Tax:Exp A/C DrService Tax A/c Dr To Vendor's A/CIf we can not claim service tax :Exp A/c Dr To Vendor A/C(With Gross Amount)

chinnaguntupalli

 Profile Answers by chinnaguntupalli Questions by chinnaguntupalli

• Sep 9th, 2009

Entries to post is Expense A/C   Dr.Tax A/C           Dr.Vendor A/C     Cr.Upon end of each month we will file return wi...

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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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What is the use of Delivery Note?

subbop

 Profile Answers by subbop Questions by subbop

• Aug 7th, 2009

A Copy of Delivery Note signed by consignee/buyer is the proof of delivery of goods in list of description, grade and quantity to the consigner/seller.

c7831887

 Profile Answers by c7831887 Questions by c7831887

• Jul 7th, 2009

Delivery note is a document sending goods from supplier to a buyer.  Its contains only the buyer's name, address, VAT/CST No., Description of the goods being sent, Goods quantity and method o...

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What is meant by RTGS?

sanjivani.patil

 Profile Answers by sanjivani.patil Questions by sanjivani.patil

• Sep 23rd, 2009

Real time gross settlement systems (RTGS) .RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a 'real time' and on 'gross' basis. This is the fas...

ravikumar.PR

 Profile Answers by ravikumar.PR Questions by ravikumar.PR

• Aug 5th, 2009

RTGS in banking means fund transfer from one bank branch to another bank branch in real time with gross settlement. Real Time Gross Settlement is the full form for RTGS

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What are Golden Rules for Accounting?

Victor Samuel

• Jul 6th, 2017

Golden rules of accounts:
Personal A/c:
Debit the receiver
Credit the giver

Real A/c:
Debit what comes in
Credit what goes out

Nominal A/c:
Debit all expenses and losses
Credit all incomes and gains.

Chandramohanreddy

• Jun 12th, 2017

1.Personal account: The account which is starts with names and artificial concerns are called as personal account debit is the receiver credit is the giver 2.Real account account:Inflows and outfl...

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We know the difference between PO and Non PO invoice, but how can we identify the critical vendor invoice in SAP.

RAHUL

• Jan 9th, 2018

For PO we have a purchase order number.
For Non-PO we don't have any PO number for that.

Vikas

• Mar 6th, 2017

Critical vendors I believe are the vendors who are directly or indirectly related to Government like Tax invoices which are paid quarterly, monthly and yearly. Critical vendors in short are the vendors whose payment in delay will effect some entity.

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What are the scenarios where we use Sub debits/credits in AP.

Correct me if I am wrong - for Freight, if amount short paid e.t.c what are the main scenarios.
Why actually would we go for Sub

Satya Nand

• Nov 4th, 2017

Hello,

Basically the concept of Sub debit and credit apply to adjust the price difference where quantity is not included.

This can be placed only after the fist document has been keyed into the SAP.

kavita

• Jul 4th, 2017

Subsequent credit is used to show price difference. Credit is for quantity difference.

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vaishnavi

• Sep 19th, 2007

Before invoice is approved we need to check the Purchase order number, amount, VAT Number, name......

ch.v.rama krishna rao, chirala

• Jul 18th, 2007

Before approval it is mandatory to observe the purchase invoice, debit note, previous payments, purchase discounts, credit period, supplier cash discount policy etc.

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dhananjay kumar ray

• Nov 3rd, 2011

An Institute of Finance & Accounts

Cynthia

• Nov 1st, 2011

Institute of Financial Accountants

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Salim

• Aug 7th, 2011

Before approving invoice following points to be check. 1. Customer or Party name 2. Invoice no. , invoice date & invoice amount 3. Purchase order & quantity 4. Bank details of Customer and par...

Durga Prasad

• Jul 27th, 2011

Before approval of invoice, we need to check the Quantity, and condition of the goods, payment terms, prices, etc

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Cody2727

 Profile Answers by Cody2727 Questions by Cody2727

• May 8th, 2011

A PO is created because there is an interest in a product.? We make an agreement with an organization to purchase a product or service.? We then enter the agreement in a program, such as HOD, outlin...

anilkumar1425

 Profile Answers by anilkumar1425 Questions by anilkumar1425

• May 6th, 2009

Purchase Order can be created in two ways:AutomaticallyManuallyA purchase order can be created automatically when a requistion is entered and approved, A purchase order can be generated automatically from that requistion. A purchase order can be entered manually directly in the PO Entry window.

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anybody can let me know the journal entries for401k? like it affects the BS or income statement?

Bobby

• Sep 17th, 2022

Hi, I have questions about 401k loan account. I see $ 19.75 in COA 401k account. I believed I paid short of $19.75 or overpaid so how do I make journal entry for this amount.

Teri

• Mar 9th, 2017

For Trinet you will need to run your 401k report first then subtract the employer contribution from each department on your cost center expense ( if you have departments). TriNet adds that employer 4...

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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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What are the different ways of matching invoices?

Vikas

• Nov 22nd, 2019

Usually we have 3 way and 2 way matching invoices. 3 way matching is : Invoice, GR and PO, we match unit price, quantity, total price e.t.c 2 Way matching: for this we dont have any PO on the invoi...

Mylene McDermid

 Profile Answers by Mylene McDermid Questions by Mylene McDermid

• Sep 21st, 2011

To packing slip,
to purchase order
to quote

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What are all the journal entries of AP, P2P cycle?

Manju

• Jan 15th, 2024

While making the payments to the Vendor the accounting entries are the below
Vendor account credit, Accounts payable/GRIR debit
If Tax charged on invoice while making the payment the entries are,
Vendor account credit, GRIR account Dr and Sales tax debit

praveen

• Dec 5th, 2018

Inventory to GRIR
GRIR to vendor
Vendor to PIT (payment in transit account - Payment run)
PIT to Bank

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