India Journal Entries in Accounts Receivables and Accruals?


Joined
Apr 25, 2018
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Hi There,

What all journal entries we post in AR and when accruals are booked. What does it means to be a "Invoice Received" in the next month. Does it means that we have received the payment.
 
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Apr 27, 2018
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"Invoice received" in your systems means the Accounts Payable (accrual) has been completed. Double entry will be Expense account/AP. It means your company has a current liability to pay.
 
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