Billing / Stock

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sankar ponnan (Querist)
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27 November 2020 SIR
we are a trader. we buy bio-diesels from Party and sell to a GTA. We fill bio-diesels to their trucks daily and after that, we issue an invoice to GTA for totally issued bio-diesels later.

(1) Whether we should account the daily stock issues or the total quantity of invoice later?
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(2) In the books of GTA, they should also account the receipt of stocks of bio-diesels or enough to account only the invoice value?
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Plz guide me sir -as I am working in both of companies.
thanks in adv

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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28 December 2020 (1) Whether we should account the daily stock issues or the total quantity of invoice later? ---------------
= If you are using Tally ERP, you can internally transfer stocks to clients for accounting purpose and later raise an Invoice at the end of the month
(2) In the books of GTA, they should also account the receipt of stocks of bio-diesels or enough to account only the invoice value?
=Both receipts and selling should be accounted but invoiceing should be in Net Basis only.