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I have an invoice here amounting to $1893.60 (purchases), a
credit note of $61.00. I have paid the vendor $1,832.40. How
should I record my entry?

I am aware that the credit note entry is using journal and
the payment is using payment voucher. But I am not sure how
to post the entry.

Please help. Many thanks.

Question Posted / xoxo

Answers were Sorted based on User's Feedback



I have an invoice here amounting to $1893.60 (purchases), a credit note of $61.00. I have paid the..

Answer / narayan bhat

Hi,

Posting the entry;

1.Purchase entry : Purchase A/c Dr.1893.60
To Vendor A/c 1893.60

2.JV : Vendor A/c Dr. 61.00
To Trade Disc. 61.00

3.Payment : Vendor A/c Dr.1832.60
To Bank A/c 1832.60

Is This Answer Correct ?    8 Yes 3 No

I have an invoice here amounting to $1893.60 (purchases), a credit note of $61.00. I have paid the..

Answer / shabab

purchase Entry
Purchase a/c Dr 1893.60

To Vendor 1893.60


Credit Note Entry
Vendor a/c Dr 61.00
To Purchase 61.00


PAYMENT ENTRY
Vendor a/c Dr 1832.40
To bank 1832.40

Is This Answer Correct ?    5 Yes 2 No

I have an invoice here amounting to $1893.60 (purchases), a credit note of $61.00. I have paid the..

Answer / lalit

PURCHASE ENTRY
PURCHSE A/C DR 1893.60

VENDOR A/C CR 1893.60

PAYMENT ENTRY
VENDOR A/C. DR 1832.60

BANK A/C. CR 1832.60

JV ENTRY
VENDOR A/C DR 61.00

DISC. A/C CR 61.00

Is This Answer Correct ?    2 Yes 0 No

I have an invoice here amounting to $1893.60 (purchases), a credit note of $61.00. I have paid the..

Answer / mahesh

purchase Entry
Purchase a/c Dr 1893.60

To Vendor 1893.60


Credit Note Entry
Vendor a/c Dr 61.00
To Purchase 61.00


PAYMENT ENTRY
Vendor a/c Dr 1832.40
To bank 1832.40

Discount Entry
Vendor a/c Dr 0.20
To Discount 0.20

Is This Answer Correct ?    1 Yes 0 No

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