sales vouching
This query is : Resolved
08 April 2008
repected sir,
what is basic concept when i will start sales vouching?
becasue i want to know that grass root lavel, sales order upto computerized feeding in tally or mannual?
what is basic concept when i will start sales vouching?
becasue i want to know that grass root lavel, sales order upto computerized feeding in tally or mannual?
08 April 2008
Dear Amit,
Reasons for sales vouching:-
(a) To in-turn check the particulars in the voucher with tally.
(b) To know if there are any second hand machines got from the parent company in that particular financial year, as it would be dis-allowed in tax audit.
(c) To phsically verify whether there are actually sold , or just made fraud by the company to increase or decrease the profits of the comapny as the case may be.
Reasons for sales vouching:-
(a) To in-turn check the particulars in the voucher with tally.
(b) To know if there are any second hand machines got from the parent company in that particular financial year, as it would be dis-allowed in tax audit.
(c) To phsically verify whether there are actually sold , or just made fraud by the company to increase or decrease the profits of the comapny as the case may be.
08 April 2008
CASH SALES INCL. CHEQUE PAYMENTS SHALL BE VOUCHED WITH CASH BILLS AND ALSO WITH CASH AND BANK BOOK AND BANK SATETEMENTS.
CREDIT SALES AS PER DAY BOOK NEEDS TO VOUCH WITH INVOICES RAISED (ALL INVOICES SHOULD BE SERIALLY NUMBERED FOR CONTROL INCL. CANCELLED INVOICES).
CASH OR CREDIT SALES INVOICES (EXCEPT SCRAP OR WASTE MATERIAL SALES) MUST CORRESPOND WITH STOCK REGISTER ENTRIES OF DESPATCH AND ALSO GATE PAASES TO CORRELATE VOUCHING FOR COMPLETE SALE AUDIT.
DEBTORS CONFIRMATIONS RECEIVED AND CHECKED AT RANDOM WILL STRENGHTEN SALES VOUCHING NOT TO CONFINE TO ONLY VOUCHERS.
ALL ABOVE DETAILS NEED TO BE CHECKED IN COMPUTER ALSO IF YOU HAVE PROPERLY AIDED SOFTWARE WITH AUTOMATIC UPDATING IN ALL RELEVANT PLACES LIKE STOCK EGISTER,SALES REGISTER,PARTY'S LEDGER ETC...
LAST BUT NOT LEAST IS QUANTITY RECONCILIATION OF STOCKBOOKS AND FIN. BOOKS .
SIMILARLY DR. NOTES AND CR. NOTES SHALL ALSO BE PROPERLY ACCOUNTED.
R.V.RAO
CREDIT SALES AS PER DAY BOOK NEEDS TO VOUCH WITH INVOICES RAISED (ALL INVOICES SHOULD BE SERIALLY NUMBERED FOR CONTROL INCL. CANCELLED INVOICES).
CASH OR CREDIT SALES INVOICES (EXCEPT SCRAP OR WASTE MATERIAL SALES) MUST CORRESPOND WITH STOCK REGISTER ENTRIES OF DESPATCH AND ALSO GATE PAASES TO CORRELATE VOUCHING FOR COMPLETE SALE AUDIT.
DEBTORS CONFIRMATIONS RECEIVED AND CHECKED AT RANDOM WILL STRENGHTEN SALES VOUCHING NOT TO CONFINE TO ONLY VOUCHERS.
ALL ABOVE DETAILS NEED TO BE CHECKED IN COMPUTER ALSO IF YOU HAVE PROPERLY AIDED SOFTWARE WITH AUTOMATIC UPDATING IN ALL RELEVANT PLACES LIKE STOCK EGISTER,SALES REGISTER,PARTY'S LEDGER ETC...
LAST BUT NOT LEAST IS QUANTITY RECONCILIATION OF STOCKBOOKS AND FIN. BOOKS .
SIMILARLY DR. NOTES AND CR. NOTES SHALL ALSO BE PROPERLY ACCOUNTED.
R.V.RAO
08 April 2008
05 May 2008
All u have to do while sale vouching is:
- reconcile the bill balance with financial books.
- whether bill is properly authenticated or not.
- the party to whom goods are sold or services rendered have given receiving on the bill.
- all the bills are numbered serially.
- the quantity of goods ordered by the customer is actually delivered in the same figures.
- the stock register maintained by the godown or warehouse keeper tallies with the financial books register.
- external confirmation on test basis from debtors can be obtained.
- reconcile the bill balance with financial books.
- whether bill is properly authenticated or not.
- the party to whom goods are sold or services rendered have given receiving on the bill.
- all the bills are numbered serially.
- the quantity of goods ordered by the customer is actually delivered in the same figures.
- the stock register maintained by the godown or warehouse keeper tallies with the financial books register.
- external confirmation on test basis from debtors can be obtained.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
