A Simple Flow P2P Accounting Entry is Shown Below.
Sl No
|
Stage
|
Debit A/c
|
Credit A/C
|
1
|
At PO Generation
|
Nil
|
Nil
|
2
|
At Receiving
|
||
Receiving Inventory A/c
|
100
|
||
Inv AP Accrual A/C
|
100
|
||
3
|
At Inspection
|
Nil
|
Nil
|
4
|
During Delivery to Stores
|
||
Material A/c
|
100
|
||
Receiving Inventory A/c
|
100
|
||
5
|
At Invoice Generation
|
||
Inv AP Accrual A/C
|
100
|
||
Liability A/c
|
100
|
||
6
|
During Payment
|
||
Liability A/c
|
100
|
||
Bank A/c
|
100
|