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Can purchase be recognise on proforma invoice?, whether Title tranfers before actual invoice i.e. on the date of proforma invoice??
 
In a brokerage house, co. bought goods for customers and keep profits like a middle man. If sales and purchase both are on credit then tell me when to recognize purchase in accounting  system if the co. has received PROFORMA INVOICE only and not the actual invoice??
 
It does not matter is it sale on credit or not. You should account the operation when it really took place according to documents.
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