Account treatment of bill

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 If I purchase material from other state on 29th of march 2015 and material received on 2nd April 2015 on site.

what is the entry in books if the bill received on 2nd April.

Please explain whole working.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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22 April 2015 yes u can enter it on 2nd april dear...!!!!

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 But P.O raised on 25th march 2015.
then accounting entry?

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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22 April 2015 date of entry doesnt depends on po...

we had raised po in march.. and even we wil receive the materials at the end of april... so we cant wait for it to close our books..

we wil enter them in next financial year.. because the goods wil b received and consumed in that year

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 but what if the date on the bill was 29th march 2015, and material received on 2nd April on site?

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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22 April 2015 stil u can put it in next financial year... as u had received and consumed the material later on...

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 but how the vat input credit adjusted , as we are entering bill on our ERP on the invoice date.
so as per bill we enter the bill on 29th March 2014.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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22 April 2015 u must have told this thing earlier that its the case of input...

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2015 If we registered with U.P Vat and material purchased from Maharastra, bill charged including vat.
Rre we eligible for using Maharastra Vat ?

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