Greatings to all.
I would like to know, Did these transactions result in Fraud or not and which circumstances would be there which leads to these kinds of situations.
1. Two invoices bearing same number.
I found two Invoices sharing same invoice number which were billed to two different parties with different amounts. When I asked the same with accountant, he fumbled and was not able to address the problem.
2. Invoice Predated in tally. Invoice value 15 lacs.
A Sale Invoice was orginally made in october and was shown in tally in August So it was apparent as the series of bill was not matching with other bills. Accountant clarifies that, We were in doubt as if this transaction will lead to a bad debt or expected a low recovery of amount. As a result to negotiate with the party invoiced it earlier. However I found that bill was invoiced in october itself and was shown in september.
Please suggest will these transactions become significant in nature and leads to fraud. Did it reflects any bad intention.
CAclubindia
