i have a transport business , and I have an agent who works under me,
if I was absent ,he will do the business (i.e collecting freight and deliver the goods. )
my doubt is whether the freight collected by my agent will be a part of my turnover or not.
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turnover
Replies (3)
If freight is collected by issuing your bill AND you have paid commission on that freight amount to commission agent then that bill amount will be inculded in your turnover
If bill and amount collected directly by agent in that case amount will be incuded in turnover of agent
sir can u provide references regarding your answer
Answer is based on logic and not any specific rule
but Accounting Standared Revenue Recognition can be refered
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