Book keeping and recording transactions
This query is : Resolved
03 December 2012
Sir , I am an article conducting internal audit...where factory and account department located in differentt city. While checking Purchase voucher I m confused when purchase should really be booked:-
1. Date of invoice
2. When GRN made
What if ; if due to management fault grn prepared very late.
And what if if entry forthe same is is passed in after 15-20 days
1. Date of invoice
2. When GRN made
What if ; if due to management fault grn prepared very late.
And what if if entry forthe same is is passed in after 15-20 days
Amol S Joglekar
(Expert)
04 December 2012
Entry in accounts is made when the "obligation" has occurred. i.e. date of invoice. If GRN date mismatches with the other date... report this observation.
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