Goods received on Challan

Please can anyone tell accounting entries for following:

When a company receives goods on challan at end of accounting period or account closing say on 31st march in evening and it is not possible to make entry of goods so late and since it shall be a part of physical inventory so how should the same be trated in books of account.

Is party account credited for the same and in which date - It would be of gr8 help if some1 could tell the flow of Accounting entries for the same

Replies (2)
You hv to pass the entry on same day if materail has recd at the time f closing of books of acounts if only challan u hv recd and the good in transit than u hv to take this in head of good in transist and considered as stock as on closing date of books Ramesh Kothari
Thanks Ramesh but can u pls be more clear regarding exact dr. and credit if goods are physically delivered

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details