Account Payable Account

by Evelyn
(New York)

Account Payable Account

Account Payable Account

How do you remove an account payable with a balance from a computer program? This account was entered in a business account. However, it is a personal account and should not have been included. To remove this account, I would have to debit it, but what account would I credit?

Comments for Account Payable Account

Average Rating starstarstarstarstar

Click here to add your own comments

Dec 05, 2017
Rating
starstarstarstarstar
Remove A/P Balance
by: Anonymous

I think you would debit A/P to decrease and remove the balance from Accounts Payable and you would credit Owners Draw to account for the personal transaction.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Accounts Payable Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you every month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.

Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.

Like Bookkeeping-Basics.net?