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purchase import

A/c entries 659 views 1 replies
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Student
67 Points Posted on 03 August 2009

Consider the following situation ABC Ltd purchases goods from china.  Goods are delivered to ABC Ltd on 11/6/2009 with invoice date as 25/5/2009. Payment for the amount is made on 5/9/2009 by ABC Ltd. When should the entry for purchase & which amount entered because amount on USD & currency rate changed every time.

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On 03 August 2009 at 18:08 Report
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CA FINAL
32 Points Posted on 04 August 2009
entry of purchase is passed on 25/05/09 i.e on date of invoice.$difference of forex transferred to p&L
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On 04 August 2009 at 00:31


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