Kamal Pal (Dy. Mgr. Accounts) (128 Points)
28 July 2011Dear All,
I would like to ask how do you decide annual turnover, as far as i undarstand the business we do (Sales Reciepts) for the whole financial year is called the annual turnover, "DO THE BANK ACCOUNT TRANSECTION FOR THE YEAR ALSO HAS AN EFFECT TO THE TURNOVER" if yes then how do i calculate.
Best regards,
Kamal
CA Nitu Agarwal
(CA, M.Com)
(266 Points)
Replied 28 July 2011
Bank a/c transactions have nothing to do with Turnover. Gross Sales/Receipts during the year amounts to turnover.
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 20 August 2011
Dear
Kindly consider the Sales Returns (if any also) or Discount extended also. It should be always net of all adjustments.
CAclubindia
