Name on purchase bill
This query is : Resolved
02 August 2013
Sir,
My query is that, I have purchase material on name of my A company, but by mistake I have made cheque payment through my B company.This transaction took place in previous year in month-Sept 2012. We are having Mercantile accounting system. Now I want purchase bill to be on name of B company from my purchaser for audit purpose, whether this is possible? Tell me what is the solution for accounts purpose.
Thanks,
Pravin.
My query is that, I have purchase material on name of my A company, but by mistake I have made cheque payment through my B company.This transaction took place in previous year in month-Sept 2012. We are having Mercantile accounting system. Now I want purchase bill to be on name of B company from my purchaser for audit purpose, whether this is possible? Tell me what is the solution for accounts purpose.
Thanks,
Pravin.
02 August 2013
SInce purchase bill is in the name of A company hence it cant be booked as a purchase in b company accounts ..
accounting treatment will as follows
A company
Purchase a/c
To Suppliers
Supplier
To B company
B co.
Supplier
To bank
A co.
To supplier
accounting treatment will as follows
A company
Purchase a/c
To Suppliers
Supplier
To B company
B co.
Supplier
To bank
A co.
To supplier
02 August 2013
Thanks for quick reply, but whether it is possible to demand purchase invoice on the name of my B Company, because cheque issued from my B company. Because by mistake I have booked this invoice in my A company in previous year Sept-2012. So what is the solution?
Thanks,
Pravin
Thanks,
Pravin
02 August 2013
then show that B company has given loan to A company by paying on behalf of A co.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Reporting of STCG on Property in ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
