What's the accounting entry when an Invoice is created in
Answers were Sorted based on User's Feedback
Answer / mahi
Through Matching with Purchase Order:
AP Accrual A/c Dr
To Liability A/c
Without Purchase order or Manually:
Charge A/c Dr
To Liability A/c
|Is This Answer Correct ?||25 Yes||3 No|
Answer / shantanu
Charge A/c is debited and Liability A/c is credited.
In case there are any taxes involved then also the relevant
Tax A/c is debited and Liability A/c is credited.
|Is This Answer Correct ?||23 Yes||2 No|
Answer / amesh
Stock A/c Dr
To Accounts Payable
|Is This Answer Correct ?||3 Yes||0 No|
Answer / mahesh .gudeti
When we are creating the at that entry will be like this
Item Expense A/c Dr
To Liability A/C should be credited.
|Is This Answer Correct ?||1 Yes||0 No|
Answer / madhav
AP ACCRUAL A/C DR
TO LIABILTY A/C
|Is This Answer Correct ?||0 Yes||0 No|
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