what is accounting entries of p2p

Answer Posted / kondasani narsireddy

> when we are receiving the goods entry will come.
inv receiving a/c dr
to ap accural a/c cr
>goods moving to inventory.
item expense a/c dr
to inv receiving a/c cr
>when we are po match with invoice.
ap accural a/c dr
to laibility a/c cr
>to make a payment for invoice.
laibility a/c dr
to cash clearing a/c cr
>then reconciliation.
cash clearing a/c dr
to cask account a/c cr

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