In which financial year entry.

02 April 2022

Hello sir,

Sir bill date 31 march 2021 hai but goods received on 1st April, then entry kis F. Y. Me hogi plz guide.

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Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 02 April 2022

If the invoice is already issued then it should be accounted before 31st March.

For stock closing purposes , you have to follow cut of procedures

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Sandeep Jain (Pivate) (1459 Points)
Replied 02 April 2022

31 March 2021

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CA Puja Sharma (Chartered Accountant) (5010 Points)
Replied 02 April 2022

It depends upon your accounting practice aslo.

Generally the supplier bills should be accounted for when you receive the goods i.e., 1st April 2022

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 02 April 2022

You may account on 31st March and For closing stock purposes only you may get an issue..Make reconciliation for this

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