Magnetic scalar and vector potential approaches in finite element formulation for dynamic response studies of magneto-electro-elastic solids is presented in this paper. The electric field induced by time varying magnetic field is non-conservative and can be described by electric scalar potential and magnetic vector potential. The magnitude of magnetic vector potential is dominant in transverse direction than in longitudinal directions except for FCFC boundary condition. Magnetic scalar potential approach evaluates the components of magnetic flux density on higher side where as electric field intensity is seldom influenced using both the approaches except for FCFC boundary condition. © Taylor & Francis Group, LLC.