Dear All,
I have a problem related to posting enty on accounts books.Can i post entry basis on bills recived or have to do only bill dated.
Please guide me, thanks to all.
36 Replies
Mohd. Zuheib
(Accountant)
(33 Points)
Replied 18 February 2012
yes it is, how can you take it on bill received. Clarify first when goods received to you ?? with bill means on same date as on bill ?? or goods received earlier but bill recieved later ??
Sachin Rajput
(account exe)
(593 Points)
Replied 18 February 2012
i m working with a event managemnet company .so we provide service and recived service.but we recived bill after one or 2 months .
Mohd. Zuheib
(Accountant)
(33 Points)
Replied 18 February 2012
ok, in that case also bill should be entered on bill dated.
Arihant
(Business)
(207 Points)
Replied 18 February 2012
but this can create a problem when bill is received after year end after the books are finalised.. how can u revise the book from back date in that case..?? that bill have to be included in next year only !!
CMA_Sanjeevkumar
(Finance)
(265 Points)
Replied 18 February 2012
In such case you should take provision of all those bills which you have not recd. till finalisation of you accounts and in next year when you recd bill in that year you can Dr. provision account.
vaibhav
(student)
(253 Points)
Replied 20 February 2012
posting of entries on bill dated may create problem where back dated entries is not possible. as well P & L may very every time after you had finalised your quarter end. so it should be booked on received basis subject to year change where provision cretaria should be taken care.
Subash Srinivasan
(chartered accountant)
(390 Points)
Replied 20 February 2012
No doubt. It shud b Bill Dated only
Subash Srinivasan
(chartered accountant)
(390 Points)
Replied 20 February 2012
No doubt. It shud b Bill Dated only
MD MASROOF ALAM
(ACCOUNTS OFFICER)
(32 Points)
Replied 20 February 2012
Pass the entry as per the bill date.and make the provision if you get the bill after the end of financial year (provision may be created on the basis of proforma invoice
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