16 September 2010
wat would be the accounting entry when we are raising a sale invoice like below
total of bill Rs. 20000 Add: VAT@12.5% Rs. 2500 Total Rs. 22500 Add:Freight Rs. 1500 Total Rs. 24000 in this case vehicle is owned by the company plz reply asap
THERE YOU HAVE CHOICE TO CREDIT FREIGHT RECD IN FREIGHT FORWARDING RECD A/C UNDER OTHER INCOME GROUP , OR CREDIT TO FREIGHT A/C IN WHICH YOU HAVE ENTERED FRIEGHT PAID ENTRY BY THIS IT WILL BE ADJUSTED WITH YOUR EXPENDITURE.
CAclubindia
