Should i give both invoices and receipts to auditor ?

635 views
User Avatar

142 Points Posted on 25 May 2021

Should i  give both invoices and receipts to auditor ? I get foreign income, and there is few days delay between invoices and receipts.

Or are receipts enough ? Invoice will contain, say, amount of 7000 usd. But it is receipt that will mention international money transfer fee, and the net .

Thanks :)

0 Reply Share Follow
On 25 May 2021 at 16:33 Report
Replies (6)
Quick Summary
When dealing with an auditor, it's generally best practice to provide both invoices and receipts. While receipts show the net amount and fees, invoices detail the gross amount. Providing both is often a legal requirement and ensures the auditor has a complete picture of your financial transactions, especially when there's a time delay between issuing an invoice and receiving payment.

User Avatar

Chartered Accountant
24588 Points Posted on 25 May 2021
Both Invoices and receipts should be given
Reply
On 25 May 2021 at 17:01
User Avatar

2742 Points Posted on 30 May 2021

You are required to provide both.

Reply
On 30 May 2021 at 08:36
User Avatar

142 Points Posted on 30 May 2021

Why i should i give invoices when receipts clearly mention gross and net of sale ? Thanks  :) Just some doubts.

Reply
On 30 May 2021 at 08:58
User Avatar

Chartered Accountant
24588 Points Posted on 30 May 2021
It is mandatory in law
Reply
On 30 May 2021 at 10:20
User Avatar

2742 Points Posted on 30 May 2021
May I know what kind work is going on with the auditor,? if audit is going on, then if auditor demands then you have provide the documents,
Reply
On 30 May 2021 at 11:02
User Avatar

Chartered Accountant
24588 Points Posted on 30 May 2021
In case of audit both the invoices and receipts should be produced to the auditors it is mandatory in course of audit objectives
Reply
On 30 May 2021 at 12:33

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Partnership tax audit query
  2. ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
  3. Form 146 foreign remittance us citizen
  4. GST 16(2) notice
  5. Which GSTR-1 upload error do you hit most often?
  6. Need advice regarding accounting fees
  7. Is it possible to get a refund for an accidental o
  8. ITR-3 Section P&L - speculative income - no bo
  9. Foreign Assets reporting
  10. Build corpus in HUF

More recent discussions | Post

Related Topics :

Loading