Interested to Buy Any Domain ? << Click Here >> for more details...
I have an invoice here amounting to $1893.60 (purchases), a
credit note of $61.00. I have paid the vendor $1,832.40. How
should I record my entry?
I am aware that the credit note entry is using journal and
the payment is using payment voucher. But I am not sure how
to post the entry.
Please help. Many thanks.
- 4 Answers
- 6595 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / narayan bhat
Hi,
Posting the entry;
1.Purchase entry : Purchase A/c Dr.1893.60
To Vendor A/c 1893.60
2.JV : Vendor A/c Dr. 61.00
To Trade Disc. 61.00
3.Payment : Vendor A/c Dr.1832.60
To Bank A/c 1832.60
| Is This Answer Correct ? | 8 Yes | 3 No |
Answer / shabab
purchase Entry
Purchase a/c Dr 1893.60
To Vendor 1893.60
Credit Note Entry
Vendor a/c Dr 61.00
To Purchase 61.00
PAYMENT ENTRY
Vendor a/c Dr 1832.40
To bank 1832.40
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / lalit
PURCHASE ENTRY
PURCHSE A/C DR 1893.60
VENDOR A/C CR 1893.60
PAYMENT ENTRY
VENDOR A/C. DR 1832.60
BANK A/C. CR 1832.60
JV ENTRY
VENDOR A/C DR 61.00
DISC. A/C CR 61.00
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / mahesh
purchase Entry
Purchase a/c Dr 1893.60
To Vendor 1893.60
Credit Note Entry
Vendor a/c Dr 61.00
To Purchase 61.00
PAYMENT ENTRY
Vendor a/c Dr 1832.40
To bank 1832.40
Discount Entry
Vendor a/c Dr 0.20
To Discount 0.20
| Is This Answer Correct ? | 1 Yes | 0 No |
How can pass the entry stock goods loss by fire or theft
If in Baance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
What is the entry for Good will payment? (received money for Good will)
Explain the term account payable?
Difference between reserves for bad debts & provision for bad debts.
6 Answers HSBC, NRN Business solution, Siemens,
what is the difference between proforma invoice , commercial invoice and invoice
How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.
3 Answers Communication for Development and Learning,
What do you mean by depreciation?
how to do asset appreciation in sap?
what will be the journal entry-discount rs 2000 allowed to mr x.and discount received rs 2000 from mr x.actually i am confused that in the first entry both discount a/c and mr x a/c will be credited as per the accounting standards.please help experts.thanks
What is imprest a/c ?
contents of an invoice receipt? difference b/w statutory audit & internal audit? Where the bank book and the cash book will not reconcile? difference b/w income & expenditure a/c & p/l a/c? what is ERP? what is full form & the application of SAP? Why income statement prepared? What are the reasons where Balance sheet will not tally? How do you calculated Closing stock in the trading a/c? When will the cash book have a Credit balance? Why do you prepare p/l appropriation a/c? What are the 4 difference b/w public and private company? What do you mean by Contingent liability? Explain: Accrual Concept 1. Realisation concept? 2. Accounting concept?
0 Answers Ankur Drugs Pharma, Infosys, RR Donnelley,
Audit 
