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Doubt about general entries
rohitmittal
Member Posts: 2
Dear all,
(1) I want to know that in MSDN, when we only post purchase & not invoice, then there is G/L entry showing that
Inventory (interim) A/c............ DR. 28,000
To Inv. Adjustment (interim) A/c 28,000
What is the logic & concept behind it??
(2) When we post same receipt to invoice & there is showing G/L entry that
Purchase A/c........................... Dr 28,000
Inventory A/c........................... Dr 28,000
Inv. Adjustment (interim) A/c...... Dr 28,000
To Sundry Creditor/Vendor A/c 28,000
To Direct Cost Applied A/c 28,000
To Inventory (interim) A/c 28,000
I can understand Purchase A/c Dr.. To Sun. Creditor/Vendor A/c
But other entries??? I can't understand other two entries.
Can anybody help me to figure this out, what is the logic or concept behind it with the suitable explanation as soon as possible??
Rgards,
Rohit Mittal
(1) I want to know that in MSDN, when we only post purchase & not invoice, then there is G/L entry showing that
Inventory (interim) A/c............ DR. 28,000
To Inv. Adjustment (interim) A/c 28,000
What is the logic & concept behind it??
(2) When we post same receipt to invoice & there is showing G/L entry that
Purchase A/c........................... Dr 28,000
Inventory A/c........................... Dr 28,000
Inv. Adjustment (interim) A/c...... Dr 28,000
To Sundry Creditor/Vendor A/c 28,000
To Direct Cost Applied A/c 28,000
To Inventory (interim) A/c 28,000
I can understand Purchase A/c Dr.. To Sun. Creditor/Vendor A/c
But other entries??? I can't understand other two entries.
Can anybody help me to figure this out, what is the logic or concept behind it with the suitable explanation as soon as possible??
Rgards,
Rohit Mittal
0