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Former Member

Automatic payment program

Hi all,

I wanted to know the accounting entry for the postings taken when an automatic payment program is been executed.That is what are the accounts been updated when we execute the APP.

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2 Answers

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    Former Member
    Aug 17, 2007 at 09:32 AM

    Hi,

    During APP, we specify the vendor open item parameter and house bank + Ac ID for making the payment.

    The Accounting entry is passed:

    Cr. Bank GL Account <assigned in Acc ID>

    Dr Vendor <clearing the open line item>

    Hope this is of some use, if yes, please assign points.

    Regards,

    Harish

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    Former Member
    Aug 17, 2007 at 09:36 AM

    Hi,

    After execute APP.. you will be got the clearing document for your vendor.

    Usually, transaction is

    Dr. Ap

    Cr. Bank

    Cr. Gain/loss account.

    Hope this help.

    Regards.

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