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Poonam Lohiya (Querist)
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13 April 2015 sir
i received free quantity from my company..which i received in april month but it is of march month.....quantity is at nominal rupee 1 or 2 rupee.......how to account for it...should i account it in march or april and how??????please reply

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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13 April 2015 i didnt understnad ur query clearly..

you received or the co received ??

and u received from the company then for which accounting u asking... for company or for urself

Poonam Lohiya

Poonam Lohiya (Querist)
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13 April 2015 sir i m asking for myself.....i m the distributor...how to make accounting in my books

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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13 April 2015 we usually enters it in our financial books at Rs 1 all items received as FOC...

So u can add it in stock at nominal value ..

If you had received them in april, u can enter them in current year books...

Poonam Lohiya

Poonam Lohiya (Querist)
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13 April 2015 so you mean to say i should enter in purchase at nominal value of rs.1...........i want to ask quantity is received of march and received with april months bill so can i enter it in march

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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13 April 2015 in mah view you cant.. because u hadnt received it in april...

let other expert give their views...

because mah personal experience says that we cant do it.. and the better view wil b to show in april as u had received it in april months bill

Poonam Lohiya

Poonam Lohiya (Querist)
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13 April 2015 thanks...............

Poonam Lohiya

Poonam Lohiya (Querist)
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13 April 2015 waiting for other experts reply on it........

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