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Accounting treatment

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 October 2011 What will be the entry for this


At the end of Mar 31 we have received the material but the purchase bill is not given by the party , what will be the entry for this
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
01 October 2011 In such case just pass the entry

Purchase A/c DR
To Party A/c
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
01 October 2011 In the given case, you have to apply the principle of Substance over Form

where you have recievd the material and the document of purchase bill is immaterial in the given case
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
01 October 2011 no enrty will be passed at the time of receipt of bill, the amount of bill is to be booked on 31 st march
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