Account type: Stock Received But Not Billed

Stock Received But Not Billed is a liability type for goods that have physically arrived but whose supplier bill has not yet been entered. A Purchase Receipt debits Stock In Hand and credits this account, so the Balance Sheet shows both the asset and the obligation on the day the truck arrives. When the Purchase Invoice is posted against the receipt, it debits this account and credits Creditors, moving the obligation to the supplier's ledger and adding VAT Receivable. The balance at any date is the value of receipts still waiting for bills, a useful month end list. If it never clears, invoices were posted without linking to the receipt, and the liability is counted twice.

Balance = value of submitted Purchase Receipts - value of Purchase Invoices linked to them

1. 01Go to Accounts Setup > Chart of Accounts, expand Liabilities > Trade and other payables.
2. 02Open Stock Received But Not Billed - YFF and confirm the Account Type.
3. 03Submit a Purchase Receipt; it credits this account with the goods value.
4. 04From the receipt click Create > Purchase Invoice, add VAT 13% and submit; the entry above posts.
5. 05Open Received Items To Be Billed to list receipts still sitting in this account.
6. 06At month end, chase suppliers for bills on anything older than a month.

Set on the account of that name; Purchase Receipt credits it and Purchase Invoice clears it.

Laptop received on Bhadra 20, billed Bhadra 25: Rs 1,00,000 sits here for five days.