Hi Everyone
I have been trying to get authentic answer to this question since long now, Can someone please tell me I faced this question during a competitive exam.
What is the Journal Entry for a PO in the books of accounts?
I think there isn't any JE to be posted until the GRN has been done or invoice has been raised, Am I right?
Regards
Sahil
when a PO is issued no entry is passed in the books of account as no party has executed its obligations.
Correct, No accounting entry for PO.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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