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Clerk Accounts Payable Interview Question:
Suppose we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now. How it possible?
What about VAT like Tax Setups in AP and AR?
What about the SWEEP command in AP?
Submitted by: MuhammadFirst there shouldn't be assumptions in transactions. If you received 25 of worth in exchange of 50 advances you can close it for a temp. The transaction entry would be…
Supplier A/c Debit 25
Received Goods A/c Debit 25
Cash paid A/c Credit 50
Submitted by: Muhammad
Supplier A/c Debit 25
Received Goods A/c Debit 25
Cash paid A/c Credit 50
Submitted by: Muhammad
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