Receiving Commission through Credit Note
This query is : Open
02 August 2010
I am receiving Commission for achieving target for every month on last day of month through Credit Note and amount is adjusted with my invoice value. So please tell me how do I passed journal entry in the books of A/c.
02 August 2010
You can accounted by 2 ways.
first :
you can adjusted credit note with invoice value against which you have received it.
ie. you have booked net purchase.
second
YOu can show it as commission on purchase and show it misll. income.
first :
you can adjusted credit note with invoice value against which you have received it.
ie. you have booked net purchase.
second
YOu can show it as commission on purchase and show it misll. income.
03 August 2010
Company who is giving credit note should deduct TDS on these credit note ,even if they are taking less payment by adjusting in future invoice?
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
