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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.
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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.
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