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Download Accounts Payable Excel Template

Download Accounts Payable Excel Template

Accounts Payable Template is a ready-to-use template in Excel, Google Sheets, and Open Office Calc that helps you to easily to record your payable invoices all in one sheet. Just download the template and start using it entering by your company details.

Furthermore, it consists of a payment section that lets you know the outstanding payable amount to the supplier against each invoice.

Table of Contents

  • What is Accounts Payable?
  • Role of Accounts Payable
  • What is Accounts Payable Process?
  • Accounts Payable Journal Entries
  • Accounts Payable Template
    • Content of Accounts Payable Template
  • Frequently Asked Questions

What is Accounts Payable?

As per Wiki

Accounts payable is money owed by a business to its suppliers shown as a liability on a company’s balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents.

In simple terms, accounts payable ledger consists of the list of suppliers along with details like invoice number, date of invoice, date wise payments made, and outstanding balance.

Role of Accounts Payable

Accounts Payable consists of 3 basic functions:

  • Report and pay external business expenses.
  • Make internal payments.
  • Monitor and process Vendor payments.

Larger businesses require staff to travel for business purposes. Accounts Payable department manages such travel arrangements which include advance airline, car rental as well as hotel reservations.

Other business functions include making payments for AMCs and other maintenance expenses for the smooth running of the business.

Furthermore, it is also responsible for distributing internal payments such as reimbursements, controlling, petty cash, and distribution of corporate taxes.

In addition to the above, the accounts payable department verifies purchases, aging analysis reports apart from vendor management.

What is Accounts Payable Process?

Accounts payable is a 4 step end-to-end process:

  • Receiving the bill.
  • Checking the bill details against the PO.
  • Record invoices into the accounting system.
  • Reviewing and making timely payments.

Additionally, account payable prevents payments of fraudulent invoices or multiple payments for the same invoice to vendors. Proper reporting of invoicing helps to ensure that a company’s cash and assets are safe.

Accounts Payable Journal Entries

Accounts payable consists of 2 scenarios that require journal entries: first is checking of goods against invoice and reporting the invoice into the system.  The other is making payment for the invoice.

Journal Entries For Recording Invoice

Purchase A/C – Debit

To Accounts Payable A/C – Credit

In the case of a regular vendor, the Vendor account will be debited instead of purchase.

Journal Entries For Paying Invoice

Accounts Payable A/C – Debit

To Cash or Bank A/C – Credit

In the case of a regular vendor, the Vendor account will be debited instead of Accounts Payable.

Journal Entries For Purchase Return

Accounts Payable A/C – Debit

To Purchase Return Account – Credit

Journal Entries For Purchase With Discounts

Accounts Payable A/C – Debit = Rs. 10,000

To Cash or Bank A/C – Credit = Rs. 9,000

To Purchase Discount A/C – Credit = Rs. 1000

The sum of both credit amounts must be equal to the debit amount.

Accounts Payable Template

We have created simple and easy Accounts Payable Templates in with predefined formulas and functions. Insert invoices and it will automatically display the outstanding against each invoice.

Excel Google Sheets Open Office Calc

Click here to Download All Accounting Excel Templates for Rs 199.

Important Note: To edit and customize the Google Sheet, save the file on your Google Drive by using the “Make a Copy” option from the File menu.

You can download other accounting templates like Cash Book, Petty Cash Book, and Purchase Return Book.

Let us discuss the templates

Content of Accounts Payable Template

This template consists of 2 sections: Vendor details and Payment Details.

Vendor Details

Row 1 = Enter Company/Business Name. Cells A1 to AD1. Merged cells.

Row 2 = Heading of the sheet. Cells B2 to BD2. Merged cells. Headings can put as Accounts Payable Ledger or Creditors Ledger.

Row 3 = Multiple headings as numbered below

  1. The subheading for the Current Date in A3.
  2. Next cell B3 will reflect the current date of the system using the formula =TODAY(). The date will automatically change according to the system date. You don’t need to change it every time and this saves your time.
  3. The next column for Total Due to 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: F23).

Row 4 = This row consists of subheadings for data input. For example, see the table below:

table

Invoice and Payment Details

Date, Invoice number, Supplier name, Amount of Bill, payment 1, and payment 2 and their respective date are details to be put while entering data.

For the Due date, you can set a function that automatically calculates several days for you and will show the exact date of payment. For this you will set the function as shown below:

= cell address which contains date + Number of days for allowed.

Here in our sheet, it is 45 days. So the formula entered is =A5+45. Copy this to all the cells below this cell, this will apply the same settings to all cells below.

Balance Amount here is calculated by deducting the total amount of bills – Sum(Payment1+payment2) etc. In this template formula used is =D5-SUM(H5+J5+L5+N5+P5+R5+T5+V5+X5+Z5+AB5+AD5).

Furthermore, you can also download Accounts Payable Template With GST(Goods and Services Tax) as well as Accounts Payable Template With VAT(Value Added Tax).

We thank our readers for liking, sharing, and following us on different social media platforms.

If you have any queries please share in the comment section below. We will be more than happy to assist you.

Frequently Asked Questions

What is a Non-PO Invoice?

A Non-PO invoice is an invoice that does not have a purchase order. However, such invoices require approval from authorized personnel to process for payment.

Difference between account payable and bills payable?

Unsettled invoices of an organization refer to Accounts Payable whereas accepted, paid recorded bills of an organization are Bills Payable.

What Is Included in Accounts Payable?

Accounts payable are a collection of short-term credits extended by creditor/vendors. The accounts payable also includes internal business, employee/employer travel as well as petty cash.

What is 3 Way Matching in Accounts Payable Process?

3-way matching is a process of comparing and matching the contents of the Purchase order, Delivery Receipt or Packing slip, and the Invoice.

What is a tolerance limit concerning invoice processing?

Minor differences in amounts of invoices as agreed upon or as per the industry norms are acceptable for which doesn’t require any further approval.

What is a debit balance recovery?

Debit Balance is when a buyer makes an excess payment with no pending invoices to a supplier/vendor. Debit balance recovery is the process to recover such amount.

How to initiate Debit Balance Recovery?

You can initiate debit balance recovery by communicating with the vendor for the excess amount. Thus, you can settle these amounts either through cash, bank transfer, or can be adjusted against future invoices. In case no future transactions with the vendor and failing to recover this balance has to be written off.

Download Accounts Receivable Excel Template »

Filed Under: Accounting Templates

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About Fahim Lashkaria

I love working in Excel and I share functional excel templates at ExcelDataPro. Read more about me here or interact with me on twitter.

Comments

  1. Niaz Ahmed says

    November 23, 2016 at 2:53 pm

    good

    Reply
    • Fahim Lashkaria says

      November 30, 2016 at 3:21 am

      Thanks Niaz

      Reply
  2. Kheta Ram says

    June 28, 2017 at 6:21 am

    We want to Excel format for uploading GST sales

    Reply
    • Fahim Lashkaria says

      June 28, 2017 at 6:30 am

      Kheta Ram jee, we are working on it and will soon upload it on our website.

      Reply
  3. mansoor says

    December 11, 2017 at 12:42 pm

    dear sir how i can how my Payable
    and i can create. please help me
    best regards

    Reply
    • Fahim Lashkaria says

      December 12, 2017 at 10:43 am

      Can’t understand your query. Please write in a language which I can understand.

      Reply
  4. SUNNY says

    January 18, 2018 at 3:39 pm

    SIR how i am cell increase

    Reply
    • Fahim Lashkaria says

      January 18, 2018 at 5:41 pm

      Right-click the mouse. Select Insert from the menu. Select entire row. Click OK.

      Reply
  5. Rohini says

    July 22, 2018 at 5:04 pm

    While downloading formates error occured. No excel sheets downloaded
    Kindly do needful.

    Reply
  6. Rohini says

    July 22, 2018 at 5:07 pm

    While downloading excel sheets error seen
    How can we download excel formates. Kindly guide

    Reply
    • Fahim Lashkaria says

      July 23, 2018 at 11:15 am

      The link is working perfectly. It might be an issue with your internet connection or firewall. Please kindly try again.

      Reply
  7. Arun Kumar says

    August 24, 2018 at 3:17 am

    You are really doing a great service, not just to the people but to the whole nation. Thank you very much sir

    Reply
    • Fahim Lashkaria says

      August 24, 2018 at 10:37 am

      Thank You, Arun, for the appreciation. Your words mean a lot to us. Glad to hear that you liked it.

      Reply
  8. Ifey says

    October 4, 2018 at 2:58 am

    Great work. Thanks for this simply powerful site, helping to equip ieofosme startups

    Reply
  9. Ifey says

    October 4, 2018 at 2:58 am

    Great work. Thanks for this simply powerful site, helping to equip ieofosme startups

    Reply
    • Fahim Lashkaria says

      October 6, 2018 at 5:35 am

      Thanks for the appreciation

      Reply
  10. Ifey says

    October 4, 2018 at 12:25 pm

    Great work. Thanks for this simply powerful site, helping to equip SME startups

    Reply
    • Fahim Lashkaria says

      October 6, 2018 at 5:35 am

      Thanks for the appreciation

      Reply
  11. Shakir Ali says

    February 5, 2019 at 5:10 pm

    That’s pretty straightforward payables template for starters and both professionals. I find excel sheet come in handy due to quick access to info without having to load web pages of online accounting software that I have been using.
    Great work sir. Stay blessed.

    Reply
  12. anil says

    February 9, 2019 at 6:09 pm

    for tds calculation any formate

    Reply
    • Fahim Lashkaria says

      February 11, 2019 at 11:49 am

      No dear. Not posted yet. Have noted and will soon be posted on the website. Thanks

      Reply
  13. mei says

    April 11, 2019 at 9:53 pm

    hi
    thank you for the template.
    how do i add more lines to the template in blue and white ?

    Reply
    • Fahim Lashkaria says

      April 12, 2019 at 11:05 am

      use insert function to add more lines.

      Reply
  14. Abel says

    July 18, 2019 at 9:56 pm

    Dear Sir,
    your work is indeed appreciated.
    How can one change the currency of the Accounts Payable template.

    Thank you for such a marvelous work.

    Reply
    • Fahim Lashkaria says

      July 19, 2019 at 3:40 pm

      Thanks for the appreciation. Glad to know it was helpful to you. To change the currency select the cell in which you want to change. Right-click on the mouse. Select “Format Cells”. Under “Number” tab select the third option “Currency”. ON the right side select your desired currency and format.

      Reply
  15. Muhammad Usman says

    November 20, 2019 at 3:42 pm

    Hello,

    How are you sir. Hope you are good and happy. Sir my question is when supplier 1 three invoices in a month how to find total amount.

    Reply
    • Fahim Lashkaria says

      November 20, 2019 at 4:17 pm

      You can do it by inserting a table and then by selecting the name of the supplier you can know the number of total invoices pending. The second and easy way is make an individual sheet for each supplier and at the end of the make a summary sheet for each supplier. We have another account payable template with aging in tables are already inserted and you can use the same for generating supplier wise report. Click the link below:
      https://exceldatapro.com/accounts-payable-template-aging/

      Reply
  16. Aji John says

    December 24, 2019 at 9:54 am

    Sir,
    Kindly explain the below mentioned formula and how I can update daily basis?
    =VLOOKUP($N1,Refresh!$A$1:$X$10000,3,FALSE)

    Thank u
    Aji

    Reply
    • Fahim Lashkaria says

      December 24, 2019 at 12:17 pm

      Vlookup the value only in column N viz; N1, N2, … in the sheet named Refresh in table range A1 in the whole sheet and display the value in the third column with an exact match. This is the explanation of the formula.

      I cannot tell how you can update on a daily basis unless what purpose it is used and what is the data. Thanks

      Reply
  17. MINTU says

    March 19, 2020 at 11:03 pm

    Very nice sir, really you worked hard, I learned much from you and I’m continuously working with your nice templates.
    Thanks a lot sir.

    Reply
    • Fahim Lashkaria says

      March 20, 2020 at 10:46 am

      You are welcome, dear. Glad to hear that.

      Reply

Trackbacks

  1. Download Salary Sheet Excel Template - Excel Data Pro says:
    December 5, 2016 at 6:42 am

    […] can also download Accounts Payable and Accounts Receivables Excel […]

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  2. Download GST Invoice Format For Job Workers In Excel - ExcelDataPro says:
    July 30, 2017 at 11:06 am

    […] you can also download other accounting templates like Petty Cash Book, Simple Cash Book, and Accounts Payable from […]

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  3. Download GST Invoice Format for Service Providers in Excel - ExcelDataPro says:
    July 30, 2017 at 11:36 am

    […] you can also download other accounting templates like Petty Cash Book, Simple Cash Book, and Accounts Payable from […]

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Accounting Templates

  • Accounts Payable Excel Template
  • Accounts Receivable Excel Template
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