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Here are the entries made by AP.

Transaction Natural Account Debit Credit


Invoice Accounting (Inv
directly in AP)
Expense $100
Accounts Payable $100
Invoice from Purchasing Accrual $100
Accounts Payable $100
Invoice Cancellation Accounts Payable $100
Expense $100
Payment is made Accounts Payable $100
Cash $100
Void a payment Cash $100
Accounts Payable $100
Pre-Payment is made Prepayment $100
Cash $100
Item is received after Pre-
Payment
Expense $100
Prepayment $100
Debit Memo Accounts Payable $100
Expense $100
Credit Memo Accounts Payable $100
Expense $100


Here are the entries made by FA.
Transaction Natural Account Debit Credit
Asset is added Asset Cost $100
Asset Clearing $100
Asset Depreciation Depreciation Expense $100
Accumulated
Depreciation
$100
Asset Retirement
W/o proceeds and W/o
removal cost
Accumulated
Depreciation
$60
Gain/Loss $40
Asset Cost $100
Asset Retirement
With Proceeds, W/o Cost
of removal
Accumulated
Depreciation
$60
Gain/Loss $40
Gain/Loss $10
Proceeds from Sale $10
Asset Cost $100
Asset Retirement -
With Cost of removal
Accumulated
Depreciation
$60
Gain/Loss $40
Gain/Loss $5
Cost of removal Clearing $5
Asset Cost $100










Simple Accounting Entries in Receivables
Standard Transaction
Receivables a/c Dr
To Revenue a/c Cr
To Tax a/c Cr
To freight Cr
Revenue recognization Invoice with rules (in 1
st period of rule)

Bill in Advance Receivables a/c Dr
To Revenue a/c Cr
To Tax a/c Cr
To freight Cr
In each period when revenue is recognized
Unearned revenue a/c Dr
To revenue Cr
Invoice With rules
Bill in Arrears Unbilled Receivables a/c Dr
To revenue a/c Cr
In each period when revenue is recognized
Receivables a/c Dr
To Unbilled Receivables a/c Cr
To Tax a/c Cr
To freight Cr
Debit memo Entry Receivables a/c Dr
To Revenue a/c Cr
To Tax a/c Cr
To freight Cr
Credit memo Entry
Against Invoice, chargebackRevenue a/c Dr
Tax a/c Dr
Freight Dr
To Receivables a/c Cr
When credit memo adjusted with Invoice, Chargeback,
Receivables a/c Dr
To Receivables a/c Cr
Credit memo against commitmentRevenue a/c Dr
To Receivables a/c Cr
On a/c Credit Revenue a/c Dr
Tax a/c Dr
Freight Dr
To Receivables a/c Cr
Deposit Entry Receivables a/c Dr
To unearned Revenue a/c Cr
Receivables a/c Dr
To Revenue a/c Cr
To Tax a/c Cr
To Freight a/c Cr
Adjustment on Invoice against deposit Unearned revenue a/c Dr
To Receivables a/c Cr
Guarantee Entry Unbilled receivables
To unearned Revenue a/c Cr
Adjustment on Invoice against on GuaranteeReceivables a/c Dr
To Revenue a/c Cr
To Tax a/c Cr
To Freight a/c Cr
Unearned revenue a/c Dr
To unbilled Receivables a/c Cr
Charge back Entry CB Adjustment a/c Dr
To Receivables a/c Cr
CB a/c Dr
To CB Adjustment a/c Cr
Adjustments of Charge back
Positive adjustment Receivables a/c Dr
To Adjustment a/c Cr
Negative adjustmentAdjustment a/c Dr
To Receivables a/c Cr
Posted by Natchirajan Shen

Simple Accounting Entries in Purchasing
At the time of receiving
Material value a/c Dr
To Inventory AP accrual account Cr
At the time of invoice Inventory AP accrual a/c Dr
To AP liability a/c Cr
At the time of Payment AP liability a/c Dr
To Cash Clearing a/c Cr
At the time of Clearing Cash clearing a/c Dr
To Cash a/c Cr
Stock sent to the sub inventory Material a/c Dr
To receiving a/c Cr
Goods in TransitGoods in transit a/c Dr
To Inventory AP accrual a/c Cr
Receiving of Stock Receiving a/c Dr
To Inventory AP accrual a/c Cr
Inspection of stockInspection a/c Dr
To Receiving a/c CR
Material a/c Dr
To inspection a/c CR
Encumbrance for requisition, PO, Invoice PO charge account a/c Dr
To reserve for Encumbrance a/c Cr