When we wish to reject the goods to supplier or we wish to raise debit note or credit notes to supplier for the purchase of FY 2013-14 but these transactions
happened today i.e. in cur FY 2014-15.
How we treat this? Whether we should pass the dr/cr notes accounting entries in FY 2013-14 or in FY 14-15?
Till the due date i.e. 30.09.2014 we can pass the accounting entries in FY 13-14 is it correct ?
Is there any accounting standard in this regard ? Pls advice.
CAclubindia
