I've one question i will be greatful if you reply so in this accrual concept we are only doing the accurals and reversals but what about when we actually paid them bank or cash is involved do we have to do the same entry again to show its paid like we do in journal accounting the entries should be Salary a/c ...dr To accrued exp a/c Accrued exp a/c ...dr To cash/Bank a/c
In the recurring entries debit should be rent and credit to be prepaid and why credit is gone to the bank. When we book an invoice we will debit prepaid and credit to bank then again in the recurring entries how bank entry will come.
I've one question i will be greatful if you reply so in this accrual concept we are only doing the accurals and reversals but what about when we actually paid them bank or cash is involved do we have to do the same entry again to show its paid like we do in journal accounting the entries should be
Salary a/c ...dr
To accrued exp a/c
Accrued exp a/c ...dr
To cash/Bank a/c
THANK YOU SO MUCH 💯✍
In the recurring entries debit should be rent and credit to be prepaid and why credit is gone
to the bank. When we book an invoice we will debit prepaid and credit to bank then again in the recurring entries how bank entry will come.
If we post accrual in foreign currency and if we reverse next month and in between if exchange rate change then how to proceed?
It's amazing way of teaching.
One of the best video on Accrual and deferral.. Thank you so much for your effort
sir can u post the defferal entries
Hi Bhabani Parida..Do you run a end to end training for SAP Finance. I like to join the course. How can i contact you