Those expenses have to pay pay
(Deduction outstanding/Deductions incurred)*no. of days analysed
Debit outstanding expensesCredit expenses payable
Calculated as follows: Average collection period+ Days inventory held- Days payable outstanding= net trade cycle
debit wages expensescredit wages payable
outstanding salaries a/c....................dr to outstanding expenses
Expenses a/c dr to outstanding expenses a/c
outstanding rent account dabit to Mr ashwin
debit salary expensecredit salary payable
expected, scheduled, fitting, deserved, payable, outstanding, owing, unpaid
[Debit] Accrued salary payable [Credit] Cash / bank
debit salary payableCredit cash / bank
debit office suppliescredit accounts payable
debit rent expensecredit rent payable
Payable within 15 days.
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
There are a number of resources that one can use to find an Accounts Payable Manager job. For example, Workopolis, Career Builder, and the Accounts Payable Network all have information about Accounts Payable Manager jobs.
Payable in 30 days
Maturities of debt instruments, such as bonds, loans, or notes payable, are the amounts of time outstanding before the debt becomes due.
There are three parts to a firm's cash conversion cycle. The formula is: Inventory Days on Hand + Average Collection Period - Days Payable Outstanding = Cash Conversion Cycle Each part split up: Inventory Days on Hand = Inventory / Daily Cost of Goods Sold (COGS) Average Collection Period = Accounts Receivable / Daily Sales Days Payable Outstanding = Accounts Payable / Daily COGS If the first two parts are reduced by one day, the firm will free up the amount of cash equal to Daily Cost of Goods Sold and Daily Sales respectively. If the firm increases its Days Payable Oustanding by one day, it will free up the amount of cash equal to Daily COGS. In order to reduce the cash conversion cycle (increase current cash on hand) a firm can either decrease Inventory Days on Hand, decrease Average Collection Period or increase Days Payable Outstanding. By doing one, or a combination of these, a firm will increase the amount of cash on hand and may be able to use this to pay of current liabilities or use this cash for expenses, growth or dividend payments. How to decrease Inventory Days on Hand: - Implement a lean manufacturing process or somehow increase efficiency. Just-in-time inventory is the most efficient, but usually it is unrealistic for a firm not to have any inventory How to decrease Average Collection Period: - Find a way to collect payments from customers soon - Possibly award small discounts if customers pay sooner - Write letters or find a way to collect from customers sooner - may not want to damage customer relations, but if a customer isn't paying you may have to hiring a collection agency (last resort) - Get rid of any billing errors or inefficiencies How to increase Days Payable Outstanding: - Delay payments to suppliers - may have to forgo a discount These are just a few of the main actions a business can take to reduce its cash conversion cycle. It is important for a business to check here first if they need extra capital before turning to loans or selling equity.
cash account receivabble inventary or stock outstanding expenses and payable taxesType your answer here...
that's obviously. if you don't pay the ticket.its an outstanding ticket
Days Revenue Outstanding