Account related

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2016 Dear sir
we are buyer. in f.y. 2014-15 we din't show some purchase bill.how reconcile in f.y. 2015-16. (i mean how to show purchase in this year), plz help me.

Thanks

CS kanak

CS kanak (Expert)
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21 April 2016 Actual purchase and bill payment are 2 different things. If you had made the accounting entries for the purchases then these should be come in your P&L as well as Balance sheet. But if you are not made any accounting entries for payment and all , and you make payment in the next year , then you should treat this in your books accordingly.

Regards
KLS