22 June 2014
I have a rental business of 50 trucks.i get income by giving sales invoice to parties.but there is no purchase invoice in my tally. so nothing is in my purchase side. i am entering fuel and maintenance cost under direct expenses.so how i calculate profit of my business.please help.
22 June 2014
same for sewage accounts na? only collect sewage from parties and dump in one place.we are giving sale bill for sewage collection/ per trip.so no purchase bill.
23 June 2014
you have truck and giving on the rent to party . you are giving the salary to driver and helper of driver, fuel, commercial tax, road tax , insurance of vehicle, repair , accidental repair, tyre, tube repair. body repair exp of turck and depreciation on the value of truck.
24 June 2014
i put closing balance on 31-03-2014 as per the loan statement as the opening balance of vehicle loan on 01-4-2014. And deducting the emi to banks as payment entry.
CAclubindia
