Freight exp on purchase should be the part of purchase cost?
This query is : Resolved
26 February 2014
I have purchased 2 type of goods. Goods X pur from local & freight exp paid to a transporter and Goods Y pur from party nd party had already paid freight exp to transporter and issue an invoice (inclusive of freight exp).
What should be the treatment of Goods X pur and Goods Y pur.
plz ensure the journals entries.
What should be the treatment of Goods X pur and Goods Y pur.
plz ensure the journals entries.
26 February 2014
No freight expenses should be seggreggated from purchase it should be recorded as direct expenses.
26 February 2014
but if invoice is inclusive of freight then ?
26 February 2014
We have to book our purchase as per our invoice. but invoice is inclusive of freight.
26 February 2014
We have to book our purchase as per our invoice. but invoice is inclusive of freight.
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