Accounts payable

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S.Gupta c/o KPS (Querist)
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09 February 2019 Please respond :
1.the complete payment to a vendor is made against which invoice?
2.when the advance payment is being released to the vendor?
3.when tax is being received - after complete payment has been made or before making complete payment?

Amol S Joglekar

Amol S Joglekar (Expert)
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09 February 2019 what is the query? is it to frame question from the answer?

S.Gupta c/o KPS

S.Gupta c/o KPS (Querist)
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10 February 2019 please reply for the 1 and 2 question,3 point asks whether payment needs to be made against TAX invoice?

Amol S Joglekar

Amol S Joglekar (Expert)
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10 February 2019 ?????? your query is NOT self explanatory.... Anyway, it seems you want the hierarchy of payment. (Advance if any, is to be adjusted against tax in first place and then the others.)

S.Gupta c/o KPS

S.Gupta c/o KPS (Querist)
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14 February 2019 Sir ,
i would like to know that complete or full&final payment will be against which invoice since the advance payment has been made against the proforma invoice?

Amol S Joglekar

Amol S Joglekar (Expert)
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14 February 2019 please take a numerical example so that i will be in a better position to solve your query.
Every time you are adding some new information. What is this "proforma invoice"? This was not there in your original query?

S.Gupta c/o KPS

S.Gupta c/o KPS (Querist)
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14 February 2019 'proforma invoice' is a type of invoice which is provided by vendor after the deal has been finalised which is required for making advance payment to the vendor.then for full payment the vendor asks us to make the complete payment or sometimes we make the payment after the receipt of 'work completion certificate' from the vendor.
i would like to know should we pay the complete payment to vendor after receipt of 'tax invoice'?

Amol S Joglekar

Amol S Joglekar (Expert)
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14 February 2019 i am aware of proforma invoice. I am also aware of tax invoice. What I am not getting in your query is the amount. So i request you to add figures say for example let the proforma invoice is of Rs.1000,000/- and then ask your query

S.Gupta c/o KPS

S.Gupta c/o KPS (Querist)
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15 February 2019 suppose a vendor asks for 70% advance and rest on completion of work.70% advance(after TDS deduction) is paid to the vendor on the basis of Proforma invoice.when the payment of 30% is released i.e. after completion of work or after receiving the tax invoice?

Amol S Joglekar

Amol S Joglekar (Expert)
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17 February 2019 ye. that is correct. now what is the query?

S.Gupta c/o KPS

S.Gupta c/o KPS (Querist)
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17 February 2019 my query is that whether the full and final payment by the accounts payable department will be made against 'tax invoice'?

Amol S Joglekar

Amol S Joglekar (Expert)
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18 February 2019 yes, you may do so. Go ahead

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