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What journal entries are passed in the system from the time of good receipt until payment is made to the vendor?

by on January 4, 2013

In a simple business scenario, you will pass the following accounting entries from
the time of goods receipt until payment to vendor.

1. Transaction code MIGO
Material Account       debit
GR/IR Account           credit

2. Transaction code MIRO
GR/IR Account          Debit
Vendor Account       Credit

3. Transaction code F-28
Vendor Account debit
Bank Account credit

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From → Accounts Payable

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