Answer Posted / mallikharjuna reddy
when we make po there is entry reason is po is a event , but not a transaction.
at the time of receipt.
inventory receiving a/c-dr
to ap accural a/c
at the time receiving goods
inventory validation a/c-dr
to inventory receving a/c
at the time of payable create
ap accural a/c-dr
to liability a/c
at the time of invoice is paid
liability a/c-dr
to cash clearing a/c
at the time of cash actual payment
cash clearing a/c-dr
to cash a/c
then recouncialition
cash clearing a/c-dr
to cash a/c
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