How to enter an invoice already paid?

Answers were Sorted based on User's Feedback



How to enter an invoice already paid?..

Answer / satyaki_raju@yahoo.com

If already paid You pass a journal entry as follows
at the time of payament the entry was
Supplier account Dr
To Cash or bank a/c
(The supplier account has to be grouped under Loans and
Advances)
while passing invoice
Purchase of materials Dr
To supplier a/c















Is This Answer Correct ?    0 Yes 0 No

How to enter an invoice already paid?..

Answer / abi

here two options for accounting this

1 st option

purchase Dr
Cash/ Bank Cr

2 nd option
u have to put one jurnal

Purchase Dr
supplier cr

then pass 1 cas/bank entry

Supplier Dr
Cash / Bank

Is This Answer Correct ?    0 Yes 0 No

Post New Answer

More Accounting AllOther Interview Questions

how to do the recurring entries or steps to follow that

0 Answers   IBM,


WHAT IS PORTFOLIO MANAGEMENT?

15 Answers   India Infoline,


why the loss by fire taking in to the credit side of the trading a/c.instead of this is company's loss?

3 Answers  


What is exact difference b/w Accounts and finance

5 Answers   IBM,


What are Corporate Action?

0 Answers   Mellon,






What is a ‘ratio’?

1 Answers  


what is zero base budgeting

4 Answers   Capital IQ,


What is journal

5 Answers  


what is the point of sale

2 Answers   ABC,


If a bank lends money to FFMC's for working capital requirement, whether the Bank can have charge on the currencies FFMC deal/exchange, by way of hypothecation or is it just a clean loan.

0 Answers  


Breif Explaination about accounts & Finance

2 Answers  


fill in the Blanks Yours accounts must be compulsorily audited if your turnover exceeds _____________

1 Answers  


Categories