What are the different between the consignment and transfers?
1 Replies
Sathya Sankeerth K N
(Chartered Accountant)
(429 Points)
Replied 04 April 2014
in accouting terminology, consignment is normally used with consignement sales where in goods are send to other party for sales for which we have to pay commission in the profit made based on fixed criteria. transfer means transfer of goods from one branch/division/unit to other branch/division/unit for sale where both are owned by same person.
In consigment the other party is not under our control. Where as in case of transfer both the destinations will be under same control.
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