![](https://thakurani.sgp1.digitaloceanspaces.com/media/tribes/oth_7.jpg)
How do I verify the invoices of Purchases while auditing the books of a company.
How do I verify the invoices of Purchases while auditing the books of a company.
Punch your phone number in the box below
I’II send an OTP on it.
I won’t confide your phone with anyone.
I appreciate your effort.
May I request you to select one of the reasons for purging from below.
Disrespectful or rude towards a person or a group.
Promotes an undisclosed link or product or service.
Not seeking genuine answers .
Vulgar, Obscene, abusive etc..
Not a post on law or business.
Copied from other website or source and pasted here.
Has bad format, grammar, spelling so requires moderatation.
Thank you,
Yours sincerely,
Aaradhika, Thakurani's bestie
I appreciate your effort.
May I request you to select one of the reasons for purging from below.
Disrespectful or rude towards a person or a group.
Promotes an undisclosed link or product or service.
Not seeking genuine answers .
Vulgar, Obscene, abusive etc..
Not a post on law or business.
Copied from other website or source and pasted here.
Has bad format, grammar, spelling so requires moderatation.
Thank you,
Yours sincerely,
Aaradhika, Thakurani's bestie
How do I verify the invoices of Purchases while auditing the books of a company.
How do I verify the invoices of Purchases while auditing the books of a company.
You should specially observe these points while vouching entries for purchases with the invoices:
(i) that the date of invoice falls within the accounting period;
(ii) that the invoice is made out in the name of the client;
(iii) that the supplier’s account has been credited with the full amount of the invoice and that the deduction in the amount of the invoice, if any, has been made on a proper basis;
(iv) that the goods purchased are those that are regularly dealt in by the concern or required for the process of manufacture carried on by it and that the price payable has been correctly arrived at;
(v) that the cost of purchases has been debited to an appropriate nominal account or accounts;
(vi) that the invoice is signed by the accountant to show that he has verified it as well as the store-keeper to indicate that the delivery of goods have been taken by him. If the invoice relates to the purchase of a technical store or a chemical, the price whereof is dependent on its quality, a copy of the report of a technical person showing that the article purchased is of the specification for which the order has been placed; and
(vii) that the manager or some other official, competent to sanction payment, has authorised its payment.
You marked successfully unsatisfactory answer
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Virtuoso could have given a better solution.
I am satisfied with virtuoso's answer.
An excellent answer I am impressed.
I will ask my next question to this virtuoso only.
Thank you,
Yours sincerely,
Anu, Thakurani's bestie
Check your phone. I have messaged an OTP. It is a 6 digit number. Feed it in the box below
Do you want me to resend the OTP? Yes resend itCheck your phone. I have messaged an OTP. It is a 6 digit number. Feed it in the box below
Do you want me to resend the OTP? Yes resend itCheck your phone. I have messaged an OTP. It is a 5 digit number. Feed it in the box below
Do you want me to resend the OTP? Yes resend itThanks, for confirming your phone number.
You can change it in your profile.Are you a tax professional?
If yes, then you can earn
money through me.
download the mobile app
You have successfully created your diary. You can access it from 'Store/Your Stuff' section.
OK