Respected Senior,
My client haveing mobile auxiliary service, in a financial year my client use to purchase mobile recharge coupon from Airtel for Rs. 40 Lac for that he deposited cash in bank which was collected from customer during day and in next day he use pay Airtel through neft for recharging coupon. For that service he only get some commission from Airtel. Now my question is how I pass the entry for the above transaction Rs. 40 Lac in my client book in a financial year. As this 40 Lac which he was collect from customer for recharge is not his direct sale. And also he make payment Rs. 40 Lac through bank to Airtel, this also his not direct Purchase. So Please clarify how I transact this entries and where I show this in Profit & Loss A/c. Please help me. Thanks with regard
CAclubindia
