Name on purchase bill

This query is : Resolved

Pravin (Querist)
Follow

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.

CA Lokesh Pokharna

CA Lokesh Pokharna (Expert)
Follow

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

Pravin

Pravin (Querist)
Follow

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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jagdeep Kaur

RAVINDRA JOSHI

Jaipal Singh

AJAY Kumar Agrawal

CA K GIRIDHAR

Subscribe Now

Name on purchase bill

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA