19 February 2009
Dear sir, i need a clarification that,what is the accounting treatment about freight inwards.If i m showing seperate from my purchase,whether my valuation of closing stock will reveal correct amount.I heard that freight charges should not show separately.if doing so,it will not reveal correct value of closing stock.The company is using Tally software.They made purchase as purchase a/c and freight as direct expenses.
19 February 2009
First note that you must take entry in Purchase Register. Material Value Effect to Material Ledger & Expenses should be taken in Expenses Ledger.
If you want to tally total of Purchase Register Press F5 Enter Enter.......ok then you will get details of Purchase Register.
CAclubindia
