Debit and credit(Please help me)

Dear Friends,

Please tell me this 2 scenarios correctly:

scenario 1: I paid $2000 to vendor through hand. Now i should record this $2000 in axapta, as amount is given to vendor.

So i opened GL and i kept account type as Vendor. So where should i enter $2000 (In credit or debit).

scenario 2: I need to pay $2000 to vendor. I didnt pay still yet. But i need to record this in software that “I need to pay $2000” to vendor. So where will you keep the amount. In debit or credit.(Or will u follow other procedure).

Thanks

Hi,

In scenario 1: You have to enter the amount $2000 in “debit” field as vendor is receiving the money.

In scenario 2: The amount will be entered in “credit” field as it is a vendor due.

Regards,

Lixin

Thanks a lot Lixin. I got it now.

So if this is in the case of customer, Is the below Correct:

In scenario 1: You have to enter the amount $2000 in “Credit” field as Customer is paying the money.

In scenario 2: The amount will be entered in “credit” field as it is a Customer due.

Thanks a lot

Above scenario is wrongly typed

In scenario 2: The amount will be entered in “Debit” field as it is a Customer due.

Yes, you got it.

thanks