Ld clause
This query is : Resolved
15 September 2014
Can you please tell me how to account for late delivery charges? if supplier fails to deliver goods in time to buyer & buyer goes to charge over him a late delivery penalty. how to account for it on behalf of buyer??
16 September 2014
since this is penalty imposed by buyer, so this is income for buyer.
you need to
vendor a/c Dr
To LD charged on vendor a/c
you need to
vendor a/c Dr
To LD charged on vendor a/c
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