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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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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vara

• Feb 27th, 2014

When we have received amount from bank that is debit to banker , when we deposited amount in bank that is credit as per bank books.

shabeena

• Jun 21st, 2013

What we are receiving the money it is called as debit...................... what we are paying the amount to bank it is called credit

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Please explain end to end process of accounts payable. I mean, Invoice processing to Payment.

Praveen

• Oct 11th, 2013

Finding supplier - Raising Purchase Requisition - Creation of Purchase order - Invoice process with(2 way, 3 way & 4 way matching) - payment run for the invoices(which is due to pay) - Cash Team will make the payment.

devi prasad

• Feb 15th, 2012

AP work starts with receiving of invoices from stations, validation of invoices and ends with payment of that invoice.

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How many types of purchase order's status are their and their relative significance. e.g Closed, Released, Open, etc

shaiK

• Jul 20th, 2013

There are five types of purchase orders.
1) STANDARD PURCHASE ORDER
2) PLANNED PURCHASED ORDER
3) BLANKET PURCHASED ORDER
4) CONTRACT PURCHASED ORDER
5) AGREEMENT PURCHASED ORDER

mvaramakrishna

• Apr 7th, 2012

5 Types

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Sivarama Krishnan

• Jun 24th, 2013

Invoice Date
Invoice Number
PO Terms
Payment Terms
Calculation
Vendor has complied with statutory norms
Taxes are being bifurcated properly
if its three way mathhing is there debit note to be raised

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What are the entries that get generated in Bank reconciliation both check and wire banks ?

shabbu

• Jun 21st, 2013

Bank statement reconciliation means differentiate between the bank book to cash book .......... that means cash book amount bank book amount should verify

Basamaekul

 Profile Answers by Basamaekul Questions by Basamaekul

• Jun 29th, 2010

There are two spearate entries that one must make to reconcille the bank statement to the company's books.  The first is the increases to the cash account that the company has not recorded.&n...

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If Any amount showing negative figure on the credit side of the trial balance then what does it mean?

sankesh

• May 27th, 2013

It means that there is an error in nominal ledger accounts

srinivas

• Sep 11th, 2012

Trial Balance- It is a statement in which debit and credit balances of all the accounts of the ledger including cash and bank balances (taken from cash book) are shown to test arithmetical accuracy of...

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Ajijul

• Mar 12th, 2013

Capital is the fund owner starts with the Business. To calculate the true profit owner charge Interest on the Capital which he/she started with the Business. Int. on Capital is the charge usually used in Pvt Ltd company.

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