Accounts Payable

reduceds

Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of...Though I honestly never heard of a company paying a Salary in advance, the journal entry would be: Prepaid Salary (debit) $$$$ Cash (credit) $$$$ It would be like paying any other expense in advance,...

No, generally a utility deposit is not a payable. On the rare chance that the company allows you to "make payments" on the deposit, until it is paid, the it would be a payable, however, that generally is not the case. A utility deposit is generally required as a "security" deposit to the company providing the service and as a rule must be paid in advance before said service can be activated. Most companies after a prescribed amount of time will and certain requirements are met (no late payments, no disconnection, etc) will refund the deposit to the person/company. If this is the case, then a utility deposit that may be refunded after a certain period of time is actually considered an asset.

debit cash
credit sales


debit bank
credit cash

total the amount of owed bills

Interest payable is debit.

Liabilities which are not due in current fiscal year are called non current liabilities like long term bonds, share capital etc.

Debit (decrease) accounts payable and then credit (decrease) cash.

ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability.

This is because a "payable" is something you (your company) owes but has not paid yet. For a bill such as Phone, once the obligation is met it is no longer a liability but an expense.

an employee

All bonds have a stated or "par" value, which is the value that the bond will hold after the bond term is completed at maturity (par value is usually $1000 per bond). When a bond is issued at a discount, it means that a company issued the bond for less than the par value (i.e less than $1000). The original discount is calculated as the difference between the par value and the bond sale price, and it is amortized over the life of the bond.

Somebody needs to define what is needed, when it is needed by, monitor that all activities come together and every team member is going in the right direction, control the budget in order to realize.Management is the process of choosing and coordinating all available organizational resources to accomplish the firms goals and objectives. Without appropriate management of these resources,...

Travel Advance Dr

Cash Cr

Travel Exp Dr

Travel Advance Cr

Capital is the most important in business.

• To provide balance flow of the material components
• To make adequate of materials
• To receive, issue and store scraps work in progress, finished goods and other materials as need may arise
• to preserve goods against defects while in warehouse

Accounts receivables are the money that is owed to a business, accounts payables are the invoices or bills that a company has incurred and must pay to their vendors or suppliers. A/R Accounts...the accounts payable account is on the general ledger and is generally comprised of many smaller vendor accounts which are listed and tracked separately in the "accounts payable subsidiary ledger"....

The Accounts Payable Clerk is responsible for providing financial and administrative in order to ensure effective, efficient and accurate financial and administrative operations.

SCOPE

The Accounts Payable Clerk reports to the Director of Finance and is responsible for providing financial, administrative and clerical services. This includes processing and monitoring payments and expenditures and preparing and monitoring the payroll system. Providing these services in an effective and efficient manner will ensure that municipal finances are accurate and up to date,

that staff are paid in a timely and appropriate manner and that vendors and suppliers are paid within established time limits.

RESPONSIBILITIES

1. Perform the day to day processing of accounts payable transactions to ensure that municipal finances are maintained in an effective, up to date and accurate manner

Main Activities:

Receive and verify invoices and requisitions for goods and services

Verify that transactions comply with financial policies and procedures

Prepare batches of invoices for data entry

Data enter invoices for payment

Process backup reports after data entry

Manage the weekly cheque run

Record all cheques

Prepare vendor cheques for mailing

List all vendor cheques in the log book

Prepare manual cheques as and when required

Maintain listing of accounts payable

Maintain the general ledger

Maintain updated vendor files and file numbers

Print and distribute monthly financial reportsAccounts Payable Clerk

2. Complete payroll functions in order to ensure staff are paid in an accurate and timely manner

Main Activities:

Establish and maintain confidential casual employee files

Process TD1 forms

Calculate salaries and benefits

Verify pay amounts, hours of work, deductions, etc.

Verify coding and obtain signatures

Batch paysheets for data entry

Data enter of payroll information

Log in and distribute pay cheques

Prepare and remit source deductions and payroll tax

3. Provide administrative support in order to ensure effective and efficient office operations

Main Activities:

Maintain inventory files

Maintain a filing system for all financial documents

Ensure the confidentiality and security of all financial and employee files

4. Perform other related duties as required

means u owe money

accounts payable

Expense payable is a current liability.

Spreadsheet capable for us to take financial information and maintain their financial records up to date.

Indemnity always goes to the credit side.