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Jan 29, 2014 at 07:38 AM

Vendor Advance payment Account

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Hi All,

1) Is vendor advance payment a/c a GL A/c or vendor A/c? If it is GL A/c how will the payment go to the vendor?

(One interviewer asked me this)

2) If you are posting the depreciation on Jan 15, what will be your posting date? How will the system calculate the amount of depreciation to be posted?

Thanks in advance.