Hi The following may sound very basic questions to the esteemed members but I have been greatly confused and trying to find answers for a long time on these:
1. As a seller, at what point, do we raise an invoice?
2. As a seller, is it the date of invoice that is always used for entering sale entries? Does date of despatch of goods or date of receipt of goods by buyer matters while entering sale entry?
3. As a buyer, is it the invoice date that is used to enter the purchase entries? Does date of receipt of goods by buyer matters for entering purchase entry?
Please provide the point-wise answer.
Thanks to all members for their help.
Regards
CAclubindia
