Accounts Payable Journal Entries

The accounts payable journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of accounts payable.

In each case the accounts payable journal entries show the debit and credit account together with a brief narrative. For a fuller explanation of journal entries, view our examples section.

Typical Accounts Payable Journal Entries


To record a purchase of inventory on account from a supplier
Account Debit Credit
Purchases XXX
Accounts payable XXX

To record a purchase of services on account from a supplier
Account Debit Credit
Expense Account XXX
Accounts payable XXX

To make a cash payment to a supplier
Account Debit Credit
Accounts payable XXX
Cash XXX


To make a cash payment taking a supplier early settlement discount
Account Debit Credit
Accounts payable XXX
Discount received XXX
Cash XXX

Goods returned and a debit note is issued to a supplier
Account Debit Credit
Accounts payable XXX
Purchases XXX

Notes payable issued to replace an accounts payable
Account Debit Credit
Accounts payable XXX
Notes payable XXX

Accounts Payable Journal Entries June 15th, 2017Team

You May Also Like


Related pages


discount formula in excelperpetuity due formulavertical analysis balance sheet exampletable pvifawhat is fifo costingsupplies expensehow to calculate production capacity in excelbasic bookkeeping booksday books in accountingdays in receivable formulaprofit margin formulascalculating allowance for doubtful accountsbasis of apportionment of overheadssample balance sheet reconciliation templatethe allowance for doubtful accountsaverage owner's equityfixed cost ratio formulaentry for bad debtstemplate for petty cashmeaning of accounting cycleperpetual lifo exampleaccounting debtors and creditorsnper formulacoupon bonds calculatorresidual value excelwhat is annuity formulaoperating lease payment calculatorexamples of perpetuityfreight in income statementmanufacturing overhead costs formulajournal entry to record sale of inventoryvoucher format for expenseswhat is the annuity formulainventory turnover formula examplepetty cash credit or debitcost variance exampleinterest earned ratio formulaaccumulated depreciation contra accountcash payment voucher samplecapital lease calculationproject completion method of accountingmargin calculation excelcoal depletionpresent value lump sum formulacheque voucher templateaccounting basics tutorialstraight line amortization bondshorizontal analysis exampleinterest bearing debt formulaallowance method journal entrystock turnover ratio formula exampleis finished goods a current assetaccounting contra accountdeferred tax liability accounting entryprovision for doubtful accountsdouble entry bookkeeping questions and answersformula for gearingrecording depreciation expenseexamples of goodwill in accountingfactory overhead control accountexcel interest rate calculatorcalculation of deferred tax on depreciationinventory turnover in days formulafinance lease accounting entriesdefine deferred taxinventory shrinkage accountingaccounts receivable reconciliation templatebank reconciliation statement is prepared byaccumulated depreciation calculation exampleprice markup calculatorinternal rate of return discount ratefuture value and present value tablesimprest system examplecash receipt book templateaverage roapetty cash bookkeepingaverage cost method formula