Back Date Transaction
Question:
There are cash bill, petty cash bill from the previous financial year which have not been entered into Treezsoft's system. Can this be done by choosing the dates back to previous year and create new entry for these old transactions? What are the things that I need to consider before I enter back dated transactions?
Answer:
Yes you can do so. Treezsoft allows you to enter back-dated transaction, but there's 2 aspects that needs to be considered before you enter the transactions:
- Is 2015 account has been audited?
If account has been audited, normally they won't allow any back-date transaction. Please confirm with your audit firm and seek for their advise.
- Is 2015 GST-03 submitted?
When your auditor gives you green light to enter all these transactions, you will need to look into your GST submission cycle. If these transactions involved in GST and you would like to report it to customs in the next up-coming GST-03 cycle, you can make use of the "Defer GST To" feature in Treezsoft in order to defer 2015 GST to current date.
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