Dear sir
We are doing job work for 5years. and we found suppier booked sales amount & our booked sales amount is different.
Suppose we booked 5lakh into Tally system in 2010-11FY as per our tax invoice.
But supplier book less amount (4.5lakh) in their ERP.
I think they deduct some defective material, lost material etc.
Is this possible for accounting system?
In my knowledge, it cannot be possible.. worried about this.
Supplier-Buyer Dispute Over Sales Record: Buyer Logs 5 Lakh, Supplier 4.5 Lakh; Reconciliation Urged to Resolve Discrepancy A discrepancy arose between a supplier and a buyer regarding differing recorded sales amounts. The buyer recorded 5 lakh in their system for the fiscal year 2010-11, while the supplier recorded 4.5 lakh, possibly due to deductions for defective or lost materials. One response suggested requesting a discrepancy note and debit note from the supplier to reconcile accounts and recommended quarterly reconciliation to prevent such issues. Another response emphasized verifying if job work charges align with the work performed, and noted that deductions should be communicated and agreed upon in advance. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
