Date of Authorisation or Date of Payment

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Pavel (Querist)
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21 July 2016 Dear Experts, I am confused about something very basic. I want to know whether the date of payment in respect of payment voucher or date of authorisation for payment voucher to be taken while recording payment in preparation of financial statements? Also let me know what date to be taken when the payment has already been made but reimbursed later or approved later on.? Require your suggestions

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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22 July 2016 Date of actual payment should be recorded in TALLY and not the date of authorization of payment. In case or reimbursement, two entries has to be passed. The advance payment when the money is given and the journal entry when the bills are received and the expenses are booked.

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