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.
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