Cash sales
This query is : Resolved
11 January 2014
what is the difference between cash sales and credit sales entry
11 January 2014
cash sales:
Cash / bank a/c dr
to Sales a/c
Credit entry:
debtors a/c....dr
to sales a/c
when cash is received:
cash / bank a/c ...dr
to debtors
Cash / bank a/c dr
to Sales a/c
Credit entry:
debtors a/c....dr
to sales a/c
when cash is received:
cash / bank a/c ...dr
to debtors
11 January 2014
that means no journal entry for the cash sales
11 January 2014
when u pass 1st entry for credit sales that tim u need to pass in journal mode..
Debtors...a/c
to sales
Debtors...a/c
to sales
11 January 2014
ok and while in cash sales , there is not a requirement of passing corresponding journal entry?
Debtors/client A/c Dr
to sales A/c
Debtors/client A/c Dr
to sales A/c
11 January 2014
no directly pass only 1 entry as i wrote above.
11 January 2014
when r the possibilities of cash sales in the companies, can u give me any such transaction. Please
11 January 2014
usually when the client is paying for less then 20,000 then cash sales do occur and for higher amount mostly its through bank...
there is no hard n fast rule as it depends on co policy.
there is no hard n fast rule as it depends on co policy.
11 January 2014
can client deduct tds on such cash transaction?
If yes than how cud we knock off such income wiht a single entry?
If yes than how cud we knock off such income wiht a single entry?
11 January 2014
client cannot deduct tds as for sales transaction no tds applies for cash sales upto 20,000.
11 January 2014
yes. i am from service sector. logistics firm.
here client deduct tds on payment
here client deduct tds on payment
11 January 2014
tell me the whole transaction with amounts paid in cash daywise...
11 January 2014
i will surely going to check it on monday, whether any tds deducted on cash transaction received.
thanks a lot friend.
thanks a lot friend.
11 January 2014
can u tell me about I.R.R.?
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