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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.
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Answer Posted / 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 |
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