sales
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 June 2010
Hi
Can one tell me what will be entry
In sales bill:-
Sales amount 10000
Excise 800
Vat 500
Freight 1000
Total 12300
May i know what will be entry and what will be treatment of freight?
Can one tell me what will be entry
In sales bill:-
Sales amount 10000
Excise 800
Vat 500
Freight 1000
Total 12300
May i know what will be entry and what will be treatment of freight?
15 June 2010
Party A/c Dr.12300/-
To Sales 10000
To Freight & Forwarding Recd 1000
To Vat Payable 500
To Excise Duty Payable 800
Freight & Forwarding Recd will be shown as Indirect Income. or You can adjust it with Freight & Forwarding exp.
i.e you have charged Rs.1000/- and pay freight agasint it rs.700/-
then both entry will be passed in same account, now you have income of Rs.300/-
To Sales 10000
To Freight & Forwarding Recd 1000
To Vat Payable 500
To Excise Duty Payable 800
Freight & Forwarding Recd will be shown as Indirect Income. or You can adjust it with Freight & Forwarding exp.
i.e you have charged Rs.1000/- and pay freight agasint it rs.700/-
then both entry will be passed in same account, now you have income of Rs.300/-
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