stufflearn (Practioner) (102 Points)
20 March 2010
Sanjay
(ACCOUNTANT)
(22 Points)
Replied 21 May 2019
Sir I am maintained account in Tally ERP9, Actually my creditor given me discount in bills but not pay GST in total gross value for example my creditor bills format as S No. Item Qty Rate Gross Discount Basic Gst Rate CGST SGST Total 1 Pepsi 150 650 97500 -30000 67500 18 6075 6075 79650 Note:- Discount in bills its not a discount, it’s a reimbursement of expenses, What ever expenses like sales promotion, salary for his staff & other exp have made in our books on behalf of my creditors, all the expenses are adjusted with this discount amt. I have passed the purchase entry like Purchase A/c Dr 67500 Cgst A/c Dr 6075 Sgst A/c Dr 6075 Discont Reced Dr 30000 Under Groupe Direct Exp Pepsi A/c Cr 79650 Trade Discount Cr 30000 Under Creditors Total 109650 109650 I have passed entry as above becoze party not pay GST on Gross Purchase, My Question When I passed the above entry Discount Recd. Are showing in Profit & Loss A/c. During one month what ever I am expenses on behalf of my creditor I have claimed in monthly basic Salary Cr 5000 Reimbursement of Exp Telephone Exp Cr 2000 Reimbursement of Exp Sales Promotion Cr 15000 Is Automatically adjsuted with Discount Recd. A/c Trade Discount Dr 22000 So My Trade Discount Balance (Cr.30000 – Dr.22000-Claim) = Balance = 8000/- But Discount Recd. Balance is (Dr-30000- Cr.15000/- Sales promotion ) So Difference between Discount Recd. 15000/- and Trade Discount Balance =8000/- Diff. 7000/- Reimbursement of Exp for salary & Telephone = Rs.7000/- not adjusted with Discount recd. A/c So I request plz. Advice how to pass the entry so my both balance is equal Thanks & Regards Sanjay Kumar Das 9899160737
Indira Priyadarsini Kota
(Practice)
(590 Points)
Replied 29 January 2021
Ayush
(Executive )
(6760 Points)
Replied 09 February 2023
For Discount Allowed
Debtor a/c...Dr
To Sale a/c
Cash a/c ....Dr
Discount Allowed a/c.... Dr
To Debtor a/c
For Discount Received
Purchase a/c....Dr
To Creditor a/c
Creditor a/c...Dr
To Cash a/c
To Discount Received a/c
Ann Green
(23 Points)
Replied 24 October 2023
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