Accounting Fundamentals Accounts Payable

accounting entries representing the money a company owes to creditors for items purchased on credit

• Accounts Receivable

• Accounts Payable

• Purchase Order

• Cash Account

person or business which provides goods and services to a company

• Retailer

• wholesaler

• Vendor

• tradesman

document or file which provides information about company vendors

• chart of accounts

• bank statement

• purchase order

• vendor file

document provided to companies when they buy items on account

• vendor invoice

• charge slip

• receipt

• bank statement

lists all amounts owed from previous invoices

• chart of accounts

• bank statement

• vendor statement

• general journal

provides information about when an invoice is due

• bank statement

• general journal

• charge slip

• credit terms

document which authorizes a buyer to receive goods/services from a seller

• vendor invoice

• charge slip

• purchase order

• signature card

used to indicate the goods listed on the purchase order which were actually received

• receiving report

• inventory

• charge slip

• general journal

used to track accounts payable transactions in more detail

• accounts receivable ledger

• accounts payable subsidiary ledger

• purchase journal

• vendor invoice

report which lists all amounts which are owed by a business; further ensures which accounts payable entries are properly recorded

• bank statement

• general ledger

• schedule of accounts payable

• general journal