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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 / 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
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