Local Shipments vs Foreign Shipments
Debit | Credit | |
Stocked items (for various costing methods) | Stock Control Account | PO Control |
Non Stocked items | Non Stock Control Account | PO Control |
Drop Shipments | Drop Shipment Control | PO Control |
Pay Local Creditor (for example Clearing Agent) Invoice |
PO Control or Landing Charge Account | Creditors Control |
Payment | Creditors Control | Bank |
Pay Foreign Creditor – via Bank Rec | Creditors Clearing | Bank/Bills Payable |
When Due | Bills Payable | Bank |