discount
This query is : Resolved
15 January 2011
Hello
please help me to make entry of addl discout recevied. we get every month addl discount on products. compay deducted that amount from our cheque amount. I have made journal entry
Addldiscount A/C DR
To company A/c
But in ledger that addl discount amount showing as payable.
please help me to make entry of addl discout recevied. we get every month addl discount on products. compay deducted that amount from our cheque amount. I have made journal entry
Addldiscount A/C DR
To company A/c
But in ledger that addl discount amount showing as payable.
15 January 2011
AS PER YOU QUESTION , IF COMPANY DEDUCTED THE AMOUNT FROM YOUR CHEQUE, IT MEANS YOU ARE GIVING ADDITIONAL DISCOUNT ,NOT RECEIVING.
ENTRY WILL BE MADE
BANK A/ C DR
REBATE & DISCOUNT DR
TO PARTY NAME.
YOU WILL CLAIM THIS ADDITIONAL DISCOUNT AS EXPENSES IN P & L A/C
ENTRY WILL BE MADE
BANK A/ C DR
REBATE & DISCOUNT DR
TO PARTY NAME.
YOU WILL CLAIM THIS ADDITIONAL DISCOUNT AS EXPENSES IN P & L A/C
15 January 2011
Bijender i believe even bank is not relevant for taking the debit it should only be
Discount Dr and Customer Cr..
The amount is directly deducted from the cheque that is being given
Discount Dr and Customer Cr..
The amount is directly deducted from the cheque that is being given
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
