UNDER CST IF WE PURCHASE GOODS ON 26 JULY 2010 AND GOT THE
DELIVERY ON 4 AUG 2010,ON WHAT DATE SHOULD I ENTER THE BILL
IN TALLY.
Answer Posted / h.r. sreepada bhagi
As mentioned by Mr.Mishra, when the purchase is accounted,
inventory is also updated. The date of receipt of material
is the date on which GRN (Goods Receipt needs to be made)
and accounted on accounting software.
One thing to be kept in mind is accounting records should be
updated on daily basis & every document should have a
consecutive number in the series, and hence making a
predated entry is incorrect. Another example is, there may
be a bill dated in the month of March, but the material is
received in April - Since these two are two different
financial years, purchase bill can be accounted only on
receipt of goods.
In the reference field, Supplier's Invoice No.& Date should
be entered for record & reconciliation. This is the case
with any accounting or ERP software and not only Tally.
Is This Answer Correct ? | 8 Yes | 0 No |
Post New Answer View All Answers
How many turnover company active TAN no applicable and how many deduction % of service.
in case of vehicle hired for staff pick up & drop for 1 month or 1 year, TDS is applicable ? if yes then which code is mention in challan & which rate is applicable ? in case of vehicle orner is personal or company which rate applicatble ?
what is the circle of tds and its rate chart
AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT
Please guide me... We are dealing in trading of industrial material. What is the difference between importer, 1st stage dealer, 2nd stage dealer and 3rd stage dealer? Whether all of these above can pass on the excise duty to the end user. Please tell me and thanks in advance.
Why TDS is not deducted on JSTF Contribution of Hinjewadi Industries Association?
what is reverse credit & how it is calculated in vat law in west bengal?
if waybill issued by consignor , then c form issue whose responsibility?
what is the case assesment of sales tax and vat.What is the proof of this case assesment.why we use the challan-c...???? Plz tell me someone...???
which items should be covered the Entry Tax by HP Govt instead of Purchased
Who advance tax is the asset for company? What are the accounting entries of advance income tax
what is the full rate of cst/vat of building material ?
Dearlers Margin Received for Direct sale from our Creditor, that TDS deducted for us. How to accounting in my records in Tally ERP 9
IF I HAVE PAY COMMISSION TO LOCAL AGENT RS-5000 THEN HOW MUCH I WILL DEDUCT TDS & IS PAN CARD REQUIRE
What are the streamlined sales and use tax agreement?