Accounting Of Accounts Payable

Accounts payable refers to businesses that should be paid to suppliers because of the purchase of goods, materials, or services.

1. accounts payable time

The account payable is based on the invoice bill.

Theoretically, accounts payable should be accounted for in time.

(1) when goods and invoices arrive at the same time, accounts payable are normally registered only after the goods are checked and checked.

(2) if the goods and invoices are not arrived at the same time, if the goods arrive first to the invoice bill, they will not be accounted for for the time being. They will not be accounted for at the time of receipt of the invoice bill. If the invoice invoice of the goods in storage has not yet been received at the end of the month, they should be accounted for at the end of the month. If the invoice bill arrives first, it can register the accounts payable according to the invoice invoice and record a material on the way.

(2) the amount of account payable.

Accounts payable are generally accounted for according to the actual amount payable. If the purchase terms include a certain cash discount, the total amount of the account can be accounted for theoretically or by the net price method.

In accordance with the total price law, the accounts payable are paid in accordance with the total value of the amount recorded on the invoice, and if the cash discount is enjoyed in the payment of the goods during the discount period, it should be used as a financial profit; in accordance with the net price law, the accounts payable should be deducted from the net value of the maximum discount according to the amount of the invoice, and the discounted purchase discount over the discounted payment period will be used as the financial cost.

China's current system stipulates that accounts payable should be accounted for by the "total price method".

3. accounting of accounts payable

Accounting for accounts payable is mainly based on the accounts payable account.

The account is an indebtedness account, an unpayable sum payable by the borrower for registration, payment and resale, a payable unpaid item arising from the purchase of materials, goods, and services received by the credit registration enterprise, as well as the payable notes due to the non payment payment of the commercial acceptance bill, and the balance at the end of the account is credited, indicating the outstanding accounts payable.

The account should be detailed according to the subsidiary ledger.

[case 8-4] biological companies purchase a batch of armor materials from technology companies. The special invoices on value-added tax indicate that the price is 50000 yuan, the value-added tax is 8500 yuan, and the terms of payment are 2/10, n/30.

The material has been checked and accepted, and the total cost method is used to calculate daily cost according to actual cost.

(1) when the material is checked and accepted,

Borrow: raw material - a material 50000

Tax payable - value added tax (input tax) 8500

Credit: accounts payable - technology company 58500

(2) if payment is made within 10 days, then:

Borrowing: accounts payable - technology company 58500

Loan: financial cost 1000

Bank deposits 57500

(3) if payment is made in 10 days, then:

Borrowing: accounts payable - technology company 58500

Loan: bank deposit 58500