if maximum purchase are made in last month of the F.y than in that case closing stock created is high whether we can do some treatement for this
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 15 September 2015
It can be accounted in next month but
Casues & Effects: 1) If you are taking in put Vat it will affect.
2) Confirmation of Balance from you Suppplier & your account will not match.
3) Any Advance payment made fully/partially it will affect Creditor's Ledger.
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