How to make Purchase entry in case of proforma invoice & subsequent receipt of tax invoice.
in our company we make advance payments on receipt of proforma invoice & on receipt of tax invoice we make purchases entry.
Now I want to correlate my advance payment made to suppliers against specific tax invoice.
please guide me in details with illustrations.
Thanks in advance
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Purchase Entry
Replies (1)
for advance payment to the supplier the entry follows
Name of supplier account debit
credit Bank account with advance payment amount
on receipt of tax invoice
debit purchase account
and credit name of the supplier account with invoice amount
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