Hi
Here are the accounting entries
Receiving
Dr. Receiving Account Cr. Accrual (which is on the PO distribution)
Delivery into Inventory
Dr. Material / Inventory Account Cr. Receiving Account
Invoicing
Dr. Accrual Cr. Supplier Liability
Payment
Dr. Supplier Liability Cr. Bank / Cash
So the ...
Search found 1 match
- Mon Dec 15, 2008 4:43 pm
- Forum: Financials (GL, AP, AR, FA & CM)
- Topic: in procure to pay cycle what are the entries
- Replies: 2
- Views: 987