Answer / sagar

Accrued expenses are the expenses for the period whether paid or not.
eg. monthly rent is $1000 and payment made is $800 in this case accrued expenses will be $1000 and not the amount that has actually being paid $800.

Answer / lokesh

Accrued expenses is expenses related to the current accounting period but will pay next accounting period. It's called Accrued expenses.
Ex:- House rent, Salaries

"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...

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