In which financial year entry.

This discussion addresses a common accounting query regarding the correct financial year for an entry. The user has a bill dated 31st March 2021, but the goods were received on 1st April 2021. Advice suggests that if the invoice was issued before 31st March, it should generally be accounted for in that financial year, even if goods arrived later. However, for stock closing purposes, it's important to follow cut-off procedures and consider reconciliation.