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(Querist)
09 May 2012 The bill date is 31-03-12 but matreial received on 1-04-12. in which year transaction will be accounted for ? what would be the satatus of material on 31-03-12 ?
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
09 May 2012 The transaction should be recorded in the F.Y. 2011-2012. The status of the material shall be goods-in-transit

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