Which date should be considered for the purchase of material or service for accounting purposes?
1. The date mentioned on the bill.
2. The date on which the material is received.
What about the date of the service provided to us? Which date should be considered - the service receiving date or the bill receiving date? Most of the time, it happens that the bill is received after a few days of the service provided. Please clarify everything.
From India, New Delhi
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1. The date mentioned on the bill.
2. The date on which the material is received.
What about the date of the service provided to us? Which date should be considered - the service receiving date or the bill receiving date? Most of the time, it happens that the bill is received after a few days of the service provided. Please clarify everything.
From India, New Delhi
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Normally, payment procedures follow the Company's terms.
In many companies, vendors submit their invoices on the same day they deliver or service the materials, thus counting as the same day of delivery.
In your case, if the vendor submits the invoice after a few days, you should consider the submission date of the invoice only, not the delivery date.
I hope this is clear.
Thank you.
From Kuwait, Hawalli
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83In many companies, vendors submit their invoices on the same day they deliver or service the materials, thus counting as the same day of delivery.
In your case, if the vendor submits the invoice after a few days, you should consider the submission date of the invoice only, not the delivery date.
I hope this is clear.
Thank you.
From Kuwait, Hawalli
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Date of delivery shall be considered. For long distance delivery or consignment from overseas, the bill date may be one month back. Again, it depends on the P.O. conditions. Pon
From India, Lucknow
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From India, Lucknow
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Hi pon, Delivery Date is consider as the Delivery challan Date Invoice date is consider as the purchased Date Most of the Purchase order Term & Conditions Based on the Invoice date
From India, Madras
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From India, Madras
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sorry my dear, Delivery date matters most. The defects liability period starts from the date of delivery but not from invoicing date. Pon
From India, Lucknow
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From India, Lucknow
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Good Morning Ankush,
Invoices are accounted for based on Goods Receipt Note (GRN).
GRN shows the date of receipt of material or service (inward entry at the company premises). This date is to be considered for accounting.
Hope this satisfies you.
Thank You,
Chandrakant
From India, Mumbai
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Invoices are accounted for based on Goods Receipt Note (GRN).
GRN shows the date of receipt of material or service (inward entry at the company premises). This date is to be considered for accounting.
Hope this satisfies you.
Thank You,
Chandrakant
From India, Mumbai
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Dear all,
Money is money. It provides interest if it is in the bank. As an employee, you should give the advantage to your company as they pay you. So, it is a wise decision to consider the older date for payment. If the bill date is later, then that date is considered, and the advantage benefits our organization. This would also ensure that vendors produce the bill on the same day or the next day.
With regards,
IJR
From India, Madras
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Money is money. It provides interest if it is in the bank. As an employee, you should give the advantage to your company as they pay you. So, it is a wise decision to consider the older date for payment. If the bill date is later, then that date is considered, and the advantage benefits our organization. This would also ensure that vendors produce the bill on the same day or the next day.
With regards,
IJR
From India, Madras
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