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Question
tell me Journal entries passed in system from the time of
good receipt to payment.
 Question Submitted By :: FI-CO
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
The Journal entries on goods receipt to payment is
Goods Receipt:
Stock a/c dr
To gr/ir a/c

Invioce recipt:
Gr/ir a/c dr
TO vendor a/c

Payment:
vendor a/c dr
To bank a/c
 
Is This Answer Correct ?    39 Yes 3 No
Deeksha
 
Answer
# 2
there are three possible entries when receive goods and
payment:
goods receipt:

inventory of raw mat a/c dr
to goods receipt/
invoice receipt a/c

invoice verification:

goods recipt/invoice recipt a/c dr
to vendor a/c

vendor payment:

vendor a/c dr
to banka/c
 
Is This Answer Correct ?    8 Yes 3 No
Radhika
 
 
 
Answer
# 3
THESE ARE THE FOLLOWING POSSIBLE ENTRIES GOODS RECEIPT TO
PAYMENT:

GOODS RECIEPT:
STOCK A/C-----------DR
TO GR/IR CLEARING A/C
INVOICE RECEIPT:
INVOICE RECEIPT A/C --------DR
TO VENDOR A/C
PAYMENT:
VENDOR A/C----------DR
TO BANK A/C
 
Is This Answer Correct ?    14 Yes 10 No
Koteswara Rao
 
Answer
# 4
Check The following accounting entry for the Material
receipt to Payment.

1) Goods Receipt (MIGO)

Stock Acc Dr

to Gr/IR Account Cr


if material is excisable.

than need to be posting accounting for excise part 2.

Input Excise (receivable) Dr
to Cenvat Clearing cr


Invoice receipt (MIRO)

Gr/IR Dr
Cenvat Clearing DR
To Vendor Cr

Payment


Vendor Dr

to Outgoing bank/Cash Cr
 
Is This Answer Correct ?    2 Yes 0 No
Rajesh Rabari
 

 
 
 
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