GRN preparation & Purchase
This query is : Resolved
31 August 2025
1) Purchase invoice is dated 25th March 2025 (FY 2024-25)
2) Goods arrive in the factory on 29th March 2025 (FY 2024-25)
3) GRN is prepared on 2nd April 2025 (FY 2025-26)
What should be accounting treatment as far as Purchase and Stock is concerned?
Kindly guide.
2) Goods arrive in the factory on 29th March 2025 (FY 2024-25)
3) GRN is prepared on 2nd April 2025 (FY 2025-26)
What should be accounting treatment as far as Purchase and Stock is concerned?
Kindly guide.
31 August 2025
Both purchase and stock should be accounted for in FY 2024-25, on the actual goods arrival date (29th March 2025), irrespective of the GRN being in FY 2025-26, and not simply on the invoice date.
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21 September 2025
Good luck....
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