Dear Sir,
There are certain advances at the year end against which the materials have been supplied in next year how these will be treated at the year end ?
6 Replies
CA Aditya Modi
(Associate Manager)
(159 Points)
Replied 13 July 2011
so as advance to creditors in the first year and knock off the advance in the next year.
valji
(Accounts manager-MBA)
(2150 Points)
Replied 13 July 2011
agree with above show seprately advance to creditor knock off next year against purchase
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 13 July 2011
IT WILL BE TREATED AS ADVANCE AGAINST SUPPLY UNDER CURRENT LIAB.
Aparna Raja K.C
(Student)
(520 Points)
Replied 14 July 2011
Show it as Advance as on 31st march...
and Dr the purchases against the same in next yr :)
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