Is consignment sales is part of turnover of consignor

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KRITIKA ARORA (Querist)
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13 December 2012 Hello Experts

Good Morning

Can you tell me being a consignor if i can club the consignment sales in turnover by showing consignment sales instead of maintaining separate consignment account.. is consignment sales is not part of the turnover of consignor and has to be shown only the profit/loss in General P&L Account derived from consignment account

please help

Kritika

V K Bajaj

V K Bajaj (Expert)
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13 December 2012 Sales done on consignment basis will be included in turnover of the Company.

The expenses done by the Company on consignment sales shall be accounted for in PL ACCOUNT.

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