Answer Posted / balasundaram

P2P cycle -

Approved Purchase requisition from concerned department -
Choosing appropriate vendor for purchase of goods/materials
(done by the procurement dept.) - Purchase Order (including
agreement in terms of price,payment
terms,quantity,transportation,delivery date etc.,) -
Receipt of goods from the vendor (GRN CUM DELIVERY NOTE) -
Depending upon the quantity ordered,issuance of debit
note/credit note to the vendor - Receipt of Invoice from
the vendor after adjusting DN/CN- Payment to vendor.

Accounting Entry -

1. accounts payable a/c dr
To vendor account
(Being goods received from the vendor and payment due)

2. Vendor a/c dr
To Bank a/c
(Being the amount paid to vendor vide chq. No.xxxx)

3. Vendor a/c dr
To cash a/c
(Being the amount paid by cash to vendor for the goods
purchased)

how go make jaggery sales and purchace bill in tally 7.2,jaggery lumbs comes in different weight not fixxed weight and i want stock in lumbs and bill amount in rupees (exp.lumbs/weight/rate/amount-1000/102.50/2500/256250)

1915

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We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?

1797

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Tell us in accounting, how do you define premises?

1078

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What can be done incase of excess payment of TDS Remittence than the actual amount? Is there any adjustment towards the excess amount with the upcoming TDS payment? Reference of last quarter challan should be shown while adjusting in next quarter?

1634

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Is push down accounting accepted under generally accepted accounting standards?

1181

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When a merchant sales of goods included/charged on packaging charges ,cartages and insurance;i.E :-Indirect income/revenue income and indirect expense/revenue expenditure. Plz suggeste me correct answer.Through messages,mail .

1578

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What do you know about this position?

1103

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suppose we received goods from H.O.The sisterconcern received it.wat will be the entries if tge S.C.sells it from here.

2281

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If a prospective client kept presenting you with excuses not to buy, what would you do?

1132

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we are import a cnc machine, we have availed customs duty, CVD & Additional duty credit?

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what is the primary of for-profit organisation

1876

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In Service tax Return ST-3 What is meaning of first Row (i) Service tax payable (a) Gross amount received in money (I) Against service provided Pls explain in detail

1861

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what made you take up present subject/area of specialization and what would you define as your career objectives

2164

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Explain the accounts payable cycle

1131

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BRIEF IN DETAIL REGARDING RATIOS

1912

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