In the accounting system used in Tally packages, Could you please tell me what is the difference between Purchase Register and Purchase Accounts as shown in accounts and profit and loss account respectively. I always find difference in figures of both the above items but cannot figure out why ?
16 August 2013
Purchase register basically listout all your purchases with vendor name and total invoice amount with datewise and serially. what ever purchase register showing the amount is the total bill amount inclusive of all the taxes etc.
Purchase accounts is grouped under p&l accounts gives the purchases with vat classwise and shows only the purchase value excluding VAT or other taxes etc.
17 August 2013
Thank you sir for your reply. As you said in Purchase Accounts, VAT/other taxes are not merged thats why there is difference between the two. But in my company all the VAT accounts have been subclassified under Purchases Accounts even then it shows difference. Why ?
18 August 2013
Purchase accounts shows only your purchase cost and purchase register shows your purchase cost plus VAT and other related expenses invoiced
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