Hi Every one...
Can any one please provide P2P JE's
P2P JE's
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- Posts: 150
- Joined: Wed May 30, 2007 6:05 am
- Location: India
P 2 p accouting entries..
1) Requisiton/Purchase Order - No Entry
2) Good Receipt - Receving inventory A/c Dr
Accrual Account Cr
3) Invoice Creation - Accrual A/c DR
Liability A/c Cr
4) Payment - Liability A/c Dr
Cash Clearing a/c Cr ( depends upon your payables options set up)
5) Reconciliaiton - Cash Clearing A/c DR
Cash a/c Cr
1) Requisiton/Purchase Order - No Entry
2) Good Receipt - Receving inventory A/c Dr
Accrual Account Cr
3) Invoice Creation - Accrual A/c DR
Liability A/c Cr
4) Payment - Liability A/c Dr
Cash Clearing a/c Cr ( depends upon your payables options set up)
5) Reconciliaiton - Cash Clearing A/c DR
Cash a/c Cr
There is no entry generated at the time of Requisition /PO.
Below entry generated at the time of invoice creation/matching.
charge A/c Dr
To Libility a/c
topic.asp?TOPIC_ID=5799
Below entry generated at the time of invoice creation/matching.
charge A/c Dr
To Libility a/c
topic.asp?TOPIC_ID=5799
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