Hello Friends
My company saled the networking rack. sales bill prepared is product cost, fright charges and vat .prepared the sale bill but my dout is fright charges is creation incoming or outgoing please clarifed the doute.
Example:
Product cost is 1,45,000.00
Fright charges 2500.00
Out Put vat @ 4% 5900.00
Total is 1,53,400.00
But Fright charges is which side creation Please.....................
GOREDDY
Dear Reddy
Freight charges is incoming, because u r making a sales invoice and debiting the freight charges to your debtor, therefore freight charegs automaticaly reflect in credit side of your expense account
Also u can rais saprate debit note for freight so that it will help to save the VAT on it.
shantanu9971128052
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
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CAclubindia
