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Help please.

Fri 27 Apr 2012 01:13 PM

Spark
Associate CB.Cert

96 posts

Would anyone be so kind as to help me.

I understand that when paying say an electricity bill the bank = credit and Electricity Account = Debit. But how do I post an invoice for an electricity bill?

I'm working through the Kaplan book and my understanding is that I should debit the electricity account which doesn't seem to make sense.

Fri 27 Apr 2012 01:17 PM

kjmcculloch

Member CB.Dip PM.Dip
Practice Licence

702 posts

Hi Spark,

If you receive a bill to be paid later, it's treated like any other invoice. Dr Electricity and CR Creditors account. When you make the payment you CR Bank and DR Creditors account.

Hope this helps.

Kris

______________________
Kris McCulloch
www.kmbookkeeping.co.uk

Winner - BKN Most Innovative Accountancy Firm 2012

Fri 27 Apr 2012 01:25 PM

Spark
Associate CB.Cert

96 posts

Ah cheers . . . simply really when you put it like that. lol

I was getting my brain in a muddle know that I must not post it as a purchase to be resold.

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