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I know there was few topics on similar issue but it seems I didin't find the answer.
I received following year end adjustments
Account payables Cr 20 000
consulting services Db 20 000
Since I cannot do adjustments to accounts payables without…
Can anyone walk me through the proper journal entries for this?
Just prior to year end I wrote a cheque to a vendor in the wrong amount but posted the correct amount on the invoice.
Yes, I still handwrite cheques, lol.
As it is a small amount, the…
Hey there,
When setting up from our last accounting software we had two accounts receivable, one in cad $ and one in us $, as well as three accounts payable, the extra being for GBP. When linking my accounts receivable to my customers for the linked…
Hello,
Instead of making a purchase voucher, I made a general journal entry and cleared the accounts payable account via cash. However, instead of this amount linking to the accounts receivable, I know have amounts in both A/P and A/R. How can I transfer…
Hi,
I am working on our fiscal year end.
I went to do the transaction in my GJ "To Correct Payroll A/P with Expense for Year End"
According to my calculations it looks like this:
Dr. Cr.
2180 EI Payable 1,624.32
2185 CPP Payable 3,217.44 …
We have a company that we buy lab supplies and also have a service contract.
Since it's the same company, I have to remember to change the account when I post the Service Contract which I forgot twice.
One is posted in the previous year (15/01/2015…
My accountant has requested a series of Adjusting Journal Entries, including adjustments to Payable and Receivable Accounts:
Here is a sample:
31/12/14 Accounts Receivable XYZ Inc - Account No. 1205 - Debit - 7592.20
31/12/14 Accounts Payable -…
