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How to account for ?

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(Querist)
26 April 2014 Dear Sir

Please clear me the following:

When we wish to reject the goods to supplier or we wish to raise debit note or credit notes to supplier for the purchase of FY 2013-14 but these transactions

happened today i.e. in cur FY 2014-15.

How we treat this? Whether we should pass the dr/cr notes accounting entries in FY 2013-14 or in FY 14-15?

Till the due date i.e. 30.09.2014 we can pass the accounting entries in FY 13-14 is it correct ?

Is there any accounting standard in this regard ? Pls advice.

thanks
Arun
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TKKKKKK

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TKKKKKK (Expert)
26 April 2014 Goods return should be shown when it is actually returned. So you should pass the entry today in books. Effect will be in f.y. 14-15.
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