purchase & sales audit

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prajeesh k

prajeesh k (Querist)
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11 August 2010 dear friends,
pls sent me how to do purchase & sales audit in good manner. pls sent me the steps also

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 August 2010 Purchase Audit:
1. Checking Purchase order approved
2. Any Amendment in the P.O. the same is approved
3. Purchase order terms and conditions
4. Goods received as per P.O. conditions
5. GRN raised properly
6. GRN quantity matching with Delivery challan and Invoice
7. In case any difference the same has been noted in the GRN
8. Whether all the materials are received in good condition
9. Any damage is there is the same notified to the vendor
10. The Debit has been raised for the same
11. P.O. quantity and rates are matching with the invoice
12. Tax rated are charged by vendor is correct or not
13. In case any deviation the same notified and Debit note has been raised
14. Invoice has been accounted correct account and Input taken correctly
15. Transport charges incurred for the same has been accounted in the materials
16. Purchase register has been maintained correctly with all the Purchase entries with serially numbered and maintained
sales Audit:
1. Checking Sales order approved
2. Any Amendment in the Sale Order the same is approved
3. Sales order terms and conditions
4. Invoice has been raised correctly
5. S.O. quantity and rates are matching with the invoice
6. Tax rated are charged is correct or not
7. Delivery Chalan preparaed as per Invoice
8. D.C. checked and signed by Stores authority along with Invoice
9. Whether all the materials are Dispatched in good condition
10. Any damage is notified to the buyer or any rejections and return
11. Return has been received properly in the stores
12. The Credit has been raised for the same
13. Tax rated are charged accounted as correct out put vat a/c
14. Sales register has been maintained correctly with all the Sales entries with serially numbered and maintained

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prajeesh k

prajeesh k (Querist)
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11 August 2010 we are not required to see quatations

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 August 2010 If you want to see the quatation, you can see the same. but once the P.O. or S.O approved, i think not necessary. but some companies having purchase poilicy while choosing vendor, minimum number of quatations need to receive and verify, so you can check the same

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