27 May 2013
Sir, Today I want to commit a payment to a vendor on a future date considering my anticipated receipts as well as payments. Is there is any excel template for such transactions ?
29 May 2013
Sir, Thanks for your reply. Vendor is a material supplier. His PO term is 30 days after material GRN and acceptance. The funds considered are the cash balance and bank balance through which the payment is to be made.
Case details : Varient Enterprises supplies various types of materials i.e. rubber, plastic items to our company (as usual) on 15.05.2013. PO term is 30 days after Goods Receipt Note (GRN) and material acceptance (within 2 days after GRN). The payment of this supply is due on 17.06.2013. Hence i want to commit this vendor a payment of Rs.1.50 Lacs against this supplies. Considering my bank balance on 17.06.2013, how can i commit him the payment ?
Hope now the above details are clear. So please suggest a excel template/methodology of handling such commitments.
CAclubindia
