Accounting treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2011
What will be the entry for this
At the end of Mar 31 we have received the material but the purchase bill is not given by the party , what will be the entry for this
At the end of Mar 31 we have received the material but the purchase bill is not given by the party , what will be the entry for this
01 October 2011
In such case just pass the entry
Purchase A/c DR
To Party A/c
Purchase A/c DR
To Party A/c
01 October 2011
In the given case, you have to apply the principle of Substance over Form
where you have recievd the material and the document of purchase bill is immaterial in the given case
where you have recievd the material and the document of purchase bill is immaterial in the given case
01 October 2011
no enrty will be passed at the time of receipt of bill, the amount of bill is to be booked on 31 st march
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