Automatic payment program

[Former Member]

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.

[Former Member · Accepted solution]

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

[Former Member]

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.