03 May 2020
Hello Sir, I have jewellery Business, and run a jewellery plan in which customer Give 11 installment payment each month and purchase jewellery 12 month with Discount. example : Customer pay 2000 * 11 month = 22000 +2000 Add Bonus as discount 12 month, Now Customer purchase jewelley in 12 month.
please Suggest how entry in Accounting. 1.The money the customer has given will go from which account to which account in Accounting 2.Discount As Called Bonus Entry in Accounting 2.Scheme Amount Show in balancesheet 3.How to show scheme Amount in Balance Sheet 4.Jewellery Saving Plan according to tax and law
04 May 2020
1. cash/bank to customer 2. discount to customer 3. advances from customer under unsecured loan 4. there is no such scheme as per law however many companies like kalyan jewellers, reliance jewels also using this facility
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