Purchase Invoice Date

This query is : Resolved

Usha Nair (Querist)
Follow

08 December 2019 Can anybody advise on booking of purchase invoice date. Whether invoice to be booked on receipt of material date or purchase invoice date

Rajamahendra Varma M.B.A.,LL.B

Rajamahendra Varma M.B.A.,LL.B (Expert)
Follow

08 December 2019 Which ever is earlier.

A.S.SUNDARARAJAN

A.S.SUNDARARAJAN (Expert)
Follow

09 December 2019 Please note that you are accounting purchase in your book. Hence, the purchase is to be accounted on receipt of materials. For year end account closing ,if the bills were raised in March 19 and goods are received after 1st April 19 and the consignment are in transit, you may account in Goods- In-Transit ( under the group fo stock) n March and in April after accounting of actual purchase reverse the Goods-In-Transit accounted in March 19 in April 19.

Message likes : 1 times

Gokul Sharma

Gokul Sharma (Expert)
Follow

09 December 2019 both are correct but one must have to follow one method...................
choose the method as per your ease.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

Murugan

venkatesh c

PRAVIN S PANISHETTI

Suneel Shah

Samyak Jain

Subscribe Now

Purchase Invoice Date

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Accountant

GST CONSULTANT

Article Assistant