What should be the journal entry for stock evaporation of Petrol & Diesel? I maintained Inventory in my Tally.Prime
Software. I'm confused... Pls help
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 19 July 2021
Please elaborate in details
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 July 2021
You have to maintain a provision for evaporation based on the past experiences and allocate the cost to finished goods. in tally,
inventory vouchers->stock journal-> select manufacturing journal-> cost tracking field to 'yes'-> under co products, scrap, select the item of finished stock to allocate the scrap.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 20 July 2021
Totally agree with Yasaswi Gomes. Create Stock journal.
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