kindly help out for the following entry
for job work, invoice would be raised by deducting scrap amount from the basic value. scrap shd be under which heading and what is the entry. please advice
2 Replies
Radhey Shyam Jha
(Student)
(1616 Points)
Replied 12 October 2022
Please elaborate your query so that your question can be understandable
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 13 October 2022
Normal scrap is included into the cost of finished goods. If company policy is to write it off, use waste account.
Dr. Scrap expenses
To profit and loss
Plus i can move read there is some tds applicable on this just google
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