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    anusha0303's Avatar
    anusha0303 Posts: 1, Reputation: 1
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    #1

    Jan 1, 2012, 10:25 AM
    In accounts payable, what is the journal entry when an invoice is posted?
    Hello,

    Can you please let me know what is the journal entry when an invoice is posted as per accounts payable.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jan 2, 2012, 07:59 AM
    When you purchase something on account, it is:
    Debit the appropriate Expense account for the amount
    Credit Accounts Payable for the amount

    When you make a payment, it is:
    Debit Accounts Payable for the amount of payment
    Credit Cash for the same amount
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