Explain the payable process and accounting treatment in service industries?

Accounts Payable is responsible for accurate and timely payment of all invoices for the University. This includes all payments on purchase orders, blanket purchase orders, check requests, travel advances and travel expense vouchers, petty cash, freight bills, and fellowship payments.

In service industry main payment is employee salary.

Salary A/C Dr

Salary payable Cr

Then,utility payments,vendor payment

·        generally responsible for processing invoices and issuing payments Accounts Payable, Monitoring and Entry of credit invoices, Balance confirmation with suppliers monthly.

·        Prepare checks and handling suppliers inquires using aging payable payment method.

je crois que la phase de paiment à ce niveau. Les entreprises cherchent à avoir des délais fournissieurs supérieurs à 2 mois et de la part de la clientél le plus proche posiible.