How to make entries in the books of consignee
Plz help its urgent
Thanks
CA Madhumita Binani
(Executive Accounts (SERVICE))
(389 Points)
Replied 17 June 2009
In consignee's books, all the entries are routed through consignor A/c...
1. For Goods Recd from consignor, no entry....
2. On expenses incurred,
Consignor A/c...........Dr
To Cash A/c
3. On Sales (Cash/Credit),
Bank / Drs A/c...............................Dr.
To Consignor A/c.
4. On Commission Received,
Consignor A/c................................Dr.
To Commission Recd.
5. On Remmitance to consignor,
Bank A/c...................................Dr.
To Consignor A/c
6. In case the consignee is bearing Bad Debt,
Bad Debts A/c..........................Dr.
To Drs A/c
Thats all i suppose..............!!!
Best Regards
Madhumita
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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