Professional Documents
Culture Documents
Raises Invoices
Accounts
Payable
For
Customer
Makes Payment
Accounting Entry
Sub Ledger
Process
Department
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When Goods Are Received:
Dr Inventory Account A/c
Cr Accounts Payables A/c
When Payment is Made:
Dr Accounts Payable A/c
Cr Cash/Bank A/c
Accounts Payable • Manage Suppliers and Payments
Accounts Receivable • Manage Customers and Receipts
Inventory • Manage Item Prices and Movements
Cash Management • Manage Cash and its reconciliation with Bank
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