Total Pageviews

July 12, 2016

7/12/2016 10:14:00 AM

Q) Accounting entries for PO receipts of Inventory items delivered to Inventory? I
When an item is received for inspection ?

When an item is delivered to inventory, what are the entries

When you receive inventory item for inspection, accounting entry will be: 

Debit Receiving Account 

Credit Inventory Accrual Account 

When you deliver the item to inventory, accounting entry will be: 

Debit Material Account 

Credit Receiving Account 

When you match AP invoice with receipt, accounting entry will be: 

Debit Inventory Accrual account 

Credit Payable Account 
Related Posts Plugin for WordPress, Blogger...