Buness query

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2015 Dear All, We are doing online business through our website and we have agreement with Snapdeal,Amazon etc which sell our product through their site also. Snapdeal charges commission and other charges from us for any order received by them for our product. Through this mail I want to know proper accounting of this transaction and provide guidelines for issuance of Sale Invoice. Whether we issue any invoice to Snapdeal for such transaction for we can direct issue invoice to ultimate buyer for this transaction which we received order through from Snapdeal Website. Is there any guidelines issued for this by ICAI for proper accounting of Online Business. Awaiting your reply eagerly.

Thanks in advance.

Rupesh Jain

Rupesh Jain (Expert)
Follow

15 January 2015 selling goods by snap deal after buying from you then you make sale invoice when you sent the goods to snap deal.

if goods sent by you when you received order from sanp deal and delivered to buyer.
then billing make when you send the goods.

you can see
IAS-10

Querist : Anonymous

Querist : Anonymous (Querist)

17 January 2015 Dear Rupesh Jain,

First of all we sent our catalog picture image to snap deal and they uploaded it on snapdeal website and when they received order for our goods then they snapdeal sent us order form alongwith his invoice of sale to dispach the goods to final buyer.based on this order form we make our invoice where we mentined in our invoce buyer name as consignee name and seller name is our company.

Is it a correct process of recording of transaction.

Please advise on this issue also

Thanks in Advance

Upgrade to CAclubindia Pro. Subscribe Now!