6 thoughts on “Accounts Payable Journal Entries

  1. I know these entries will be used predominantly in the manufacturing industry. but why is GR/IR getting credited? & can you also explain the accounting basics around GR/IR (I mean the way or manner in which the journal entries are passed for better understanding).

    1. GR/IR account is Offsetting account, no direct postings will be permitted to this account, we will maintain it as automatic postings.
      basically this account is used to track the good, when invoice is verified account will be zero.

  2. can you also explain the planned entries and non planned entries in sap… and have any details belongs to abnormal losses!

  3. can you please provide us planned entries and non planned entries in sap, and entries belongings to abnormal losses ……

  4. Its good knowledgeable website. keep updating on the SAP FICO and other modules’ appropriate details in this website. So really helpful to students, professionals and everyone. So hopefully this website creates good knowledgeable Indians in our country.

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