answersLogoWhite

0


Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: When does a purchase order become an accounting liability?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What will be accounting entry when a purchase order is created?

There is no journal entry required when purchase order is created because no accounting transaction occurred until received any inventory or product.


How can I become an Accounting consultant if I already have a degree in Accounting?

You will need to get your CPA in order to become a Accounting consultant, as soon as you get your license you can apply to various companies that are looking for a consultant.


What is the difference between a purchase order and purchases receive inventory?

A Purchase Order/(PO) is issued by the buyer to the supplier where as PurchaseReceive Inventory is where you are able to enter information about the purchase made. PRI is using peach-tree accounting program.


Can I go to best buy and purchase basic accounting software?

Yes, Best Buy offers basic accounting software. You can also look online, in order to compare prices.


What is the eligibility of cpa?

In order to be eligible to become a CPA, in most states you must have earned a bachelor's degree in accounting, as well as a Master's degree in either accounting or taxation. You then must pass an exam to become certified.


What are PO and GRN?

The two acronyms have a plethora of meanings, but the two are related in business accounting: GRN as "Goods Received Note" PO as "Purchase Order" or "Payment Order" or "Partial Order"


Where can I find a good accounting class?

Accounting classes are offered at most colleges and universities.Typically introductory accounting class will introduce students to the basics, then advanced classes will build upon those concepts, ultimately allowing students to develop the skills to become an accountant. In order to become a professional accountant, accounting classes should be taken only from accredited degree programs.


Purchase Order Software for Multi Company maintains multi company sales/ purchase records for different business organization?

Business purchase orders management wizard manage all customer, vendor and item details for easy maintenance and access of accounting transactions. Purchase Order Software generates various useful sales/purchase order reports and invoices to calculate financial health of Company.


Can you have umpd coverage if you only carry liability insurance?

Sure. You will ahve to purchase UMBI and UMPD as they only come together but thst shouldn't be an issue. You don't have to have Comprehensive and Collision or any other coverages in order to get Uninsured Motorists coverage. I firmly recommend UM to all my clients whether or not they have any other coverages other than liability. You cannot purchase limits of uninsured motorists coverage that are higher than your liability coverages.


What does cmm pos de stand for?

CMM stands for Capability Maturity Model. POS stands for point of sale, which shouldn't be confused with PO which stands for purchase order in accounting.


Do you need insurance for 50cc gas scooter?

If it is licensed to drive on streets it is probably required to have liability insurance at least. If it is financed in any way you probably have to purchase not only liability insurance but also physical damage coverage as well in order to protect the finance company or bank.


In order to be a successful tax attorney, he must have a strong background in accounting. ?

In order to be a successful tax attorney, he must have a strong background in accounting.