Treatment of Computer purchased through Post Dated Cheque

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  1. NEERAJ_SHARMA

    NEERAJ_SHARMA New Member

    SIR, i purchased a computer on 10 march 2016, and payment made by a post dated cheque (cheque date is 10 april 2016, next financial year), so how should i treat this transaction ?
     
  2. NEERAJ_SHARMA

    NEERAJ_SHARMA New Member

    but mam, what should be for the Computer purchased ? it should be treated as Credit purchase ?
     
  3. Neha Sharma

    Neha Sharma Active Member

    The date of payment is not important but the the date of purchase is important.

    This would be treated as a credit purchase in Financial Year 2015-16
     
    NEERAJ_SHARMA likes this.
  4. NEERAJ_SHARMA

    NEERAJ_SHARMA New Member

    yes, it should be shown as credit purchase
     
  5. NEERAJ_SHARMA

    NEERAJ_SHARMA New Member

    Shilpa mam, most of business are followed by Accrual system and this is fair also, so It should be shown as credit sales on financial year end.
     
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