Recording GRIPS transactions
This query is : Resolved
k chakraborty
(Querist)
09 April 2024
GRIPS Over the counter payment takes transaction+2 days for confirmation in GRIPS portal, although bank got debited on the date of transaction itself. In this case what is the formal apporach to record the transaction as expense in the books of account of the firm? 1. on transaction date. 2. confirmation date.
CA R SEETHARAMAN
(Expert)
09 April 2024
Record it on the transaction date being bank debited date.
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