What time

When we receive the goods,GRN is entered and when invoice is received party is credited.

Hey Joey from FRIENDS

You were my favourite character in FRIENDS but i couldnt understand your explanation (much like in FRIENDS).

Please explain in detail with help of some example.

Rachael

Hello,

Our stock's Quantity Increased when we received goods  and without invoice we cannot put Transaction in our accounting records,

So if you working in Tally->

for e.g. you recd goods on 11/05/2015 and Invoice Num & date is SHI/001 and 09/05/2015 respectively

So pls enter the Purchase Voucher date as 11/05/2015 when u recd the goods & Under Supplier's Invoice SHI/001 with dt 09/05/2015 (Invoice date)

Regards

Deepak Sharma

deepak_8583 @ yahoo.com

Dear Deepak

thanks for ur reply.

so what u r saying is that in purchase voucher there are two dates in taly. one in top right corner and another to the right of supplier invoice no.  So i should put 11/05/2015 in top right corner and 09/05/2015 to the right of supplier invoice no.

Please confirm.

Also what will happen in a case where invoice received early and goods received late? or is this situation never possible and we always receive invoice after we receive goods? WHen do we receive invoice?

regards

In any Case

Goods Received date should be put at Top Right Corner 

and Invoice date should be at Supplier's Detail.

As Per DVAT Law, Invoice should be delivered along with Goods.

Thanks

Regards

Deepak Sharma

when the goods is physically received  Prepare GRN and account it - Purchase a/c Dr  & suppliers account Cr

When the invoice is received and the godos not recd- Good in transit a/c Dr & credit supplier account  Cr.

At the time of physical receipt of goods -Purchase a/c Dr & credit Goods in Transit account. Cr.

rgds, saravanan

sir in tally goods in transit will come under what group