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


suspense payment definitionamortized depreciationtax expense journal entrysix steps of accounting cyclehow to find unit contribution marginwhat is amortisation in accountingdefine reversing entriesstraight-line method of depreciation calculatorhow to calculate fixed cost and variable costare credit cards assets or liabilitiesfinancial projection spreadsheetexcel fvfinding ending inventorypayroll suspense accountpv pmt formulagross margin percentage calculatorarr accounting rate of returndefine bank reconciliation statementdouble entry for debtorsliquidity ratio formula accountingfair value adjustment journal entrydays sales receivablesbalance sheet offsetting exampleintangible assets accounting treatmentwhat fob means in freightinventory ledger templateaccounting quiz questionsis notes receivable a current assetaccounts payable days formulaconvert cash calculatorrate variance formuladouble entry for hire purchase of motor vehicleaccruals and deferred income definitionthe eight steps of the accounting cyclepmt calculator excelpresent value of cash flows excelcash book reconciliation examplewhat is prepaid insurancepre operative expenses meaninghow to maintain ledger bookhow to calculate capital expenditure from balance sheetformula of arrformula for roafv of annuity calculatorfixed asset turnover ratio formula examplewhat is the formula for straight line depreciationpetty cash claim form templateactivity ratio formulareapportionment of overheadsaccounting treatment of intangible assetssingle step income statement templatewrite off accounts payable journal entrywhat is journal and ledger with examplefob collectaccounts payable assessment testselling price calculator with markupfuture value formula in exceljournal entry format accounting exampleconvert accrual to cash basisfuture value of lump sumexcel formula fvlifo vs fifo examplewhat is a sundry expenseamortization on intangible assetsfinished goods inventory formulacontribution margin methodwip inventory definitionexcel net present value formulafinancial projections excel spreadsheetcontribution margin and fixed costspv table of annuitycredit sales journal entrynormal balance of cashpmt formula excel