Account payable template in excel format. When making large assets for items like inventory, supplies, or apparatus it may be required to do so on credit, which could result in numerous monthly payments made to different dealers or suppliers, expected on different dates. Using this accounts payable template will help to keep a record of what you incur to each party, and will arrange a quick attention to the total outstanding balances and expected dates.
Account Payable Template Excel
Regularly, Accounts Payable is a credit balance. When you record a dealer invoice, you will credit Accounts Payable and debit a different person account as per the double-entry accounting system.
When you pay your Accounts payable bill, you will debit Account payable and credit cash. So, the credit balance in Accounts Payable should be equal to the unpaid dealer invoices.
Accounts Payable template is not a word which is used only in business. Even every individual person has its own payable account.
Such as, we use electricity, telephone, broadband, cable TV etc services. These companies provoke the bills towards the end of a special billing date.
Service provider gives us some service on credit. We need to make the payment of these services on a specific date or else you will default. This is our Accounts Payable method.
For example, I have created an Accounts Payable Template with advanced and efficient functions. With Accounts Payable Template you can conveniently and easily record entries. This template generates dealer wise/creditors wise report in few clicks.
The Accounts Payable Template is very useful and helpful for Accounts Colleague, Accountants, Audit Assistants etc.
Content for Accounts Payable Template
In Row 1 enter company name, which you want. Cells A1 to AD1. Merged Cells.
In Row 2 heading of the sheet. Cells C2 to CD2. Merged Cells. Headings can put into Accounts Payable Record or Creditors Record.
In Row 3 different headings as numbered below
- The subheading for Current Date in B3.
- The next cell C3 which will reflect the current date of the system using the formula =TODAY(). The date will automatically set according to the system date. You don’t need to change it every time and this method saves your time and very useful for other issues.
- The next column for Total Due till date. The cell next to it reflects the total of column F which is the balance of each supplier. The formula applied here is =SUM(F5: F24).
In Row 4, this row consists of subheadings for data input. For example,
Date, Invoice number, Supplier name, Volume of Bill, payment 1 and payment 2 and their various date are details to be put while entering data.
For the Due date, you can set a function which automatically calculates a number of days for you and will display the correct date of payment. For this you will set the function which is:
=cell address which contains date + Number of days.
Here on our sheet, it is 45 days. So the formula entered is =A6+45.
Balance Amount is calculated by deducting the total volume of bills – Sum(payment1 + payment2). In this template, we use the formula which is