We essentially credit our T account for 205 which means that we got our

We essentially credit our t account for 205 which

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invoice date. We essentially credit our T account for $205, which means that we got our supplies and still owe Norton’s their money. Once we pay them, with in the 30 days, we debit the T account for $205 because of liability decreased (QuickBooks). A few ways to improve our company’s A/P, one of the key accounting operations, would be to make sure everything is set up smoothly on the company’s AIS application. My pretend company uses QuickBooks. The supplier will send us the invoice electronically. There are interfaces with our receiving and A/P. Once our system is notified that we have received the supplies our A/P then knows there is an invoice that needs to be paid. Having our QuickBooks application up to date is always a plus. In the vendor expenses it lists our purchase orders, overdue bills, open bills not paid, and paid bills. This system helps improve our A/P by allowing easy access to know what/ when invoices are due to improve our credibility and relationships with suppliers. A/P is the department that is paying the invoices. If they see that the purchasing department is buying too many supplies that they cannot afford, they need to notify the purchasing department. A challenge could be that workers are not sending the orders to the right department or are not paying attention to invoice due dates. Workers need to double check their work to be fully successful. Doing all of these steps will help improve our company’s accounts payable operation. Kenton, W. (2019, May 20). Accounts Payable (AP). Retrieved September 16, 2019, from Investopedia website: QuickBooks Desktop Products. (n.d.). Retrieved September 6, 2019, from QuickBooks website:
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