Does not belong to other monetary funds. Commercial paper is included in notes payable or notes receivable and not in other monetary capital accounts. Other monetary funds refer to monetary funds other than corporate cash and bank deposits. Other monetary funds include deposits from other places, bank draft deposits, cashier's check deposits, monetary funds in transit, letter of credit deposits, credit card deposits, etc.

How to make accounting entries for notes payable?

The accounting treatment of bills payable is as follows:

1. Issue and accept commercial bills to purchase materials:

Debit: material purchase,

Taxes payable - value-added tax payable (input tax),

Credit: Notes payable.

2. If a bank acceptance bill is issued, when paying the acceptance fee:

Debit: financial expenses,

Credit: bank deposit.

3. When the bill matures, pay the commercial draft:

Debit: bills payable,

Credit: bank deposit.

4. The commercial acceptance bill payable is due and if the enterprise is unable to pay the bill:

Debit: Notes Payable,

Credit: Accounts Payable.

5. When the bank acceptance bill payable expires, if the enterprise is unable to pay the bill:

Debit: bills payable,

Loan: short-term borrowing.