Customers commission A/c

This query is : Open

Chandan Arora (Querist)
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27 September 2016 What will be the journal entries for the commission given on sales in Cash.how to maintain commission a/c

Deepti Asawa

Deepti Asawa (Expert)
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27 September 2016 if commission given in cash-
Commission A/c Dr.
To Cash A/c
Profit and loss A/c Dr.
To Commission A/c

If commission due but not paid
Commission A/c Dr.
To X A/c

Profit and loss A/c Dr.
To Commission A/c

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Chandan Arora

Chandan Arora (Querist)
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27 September 2016 Thankew very much deepti ji

Chandan Arora

Chandan Arora (Querist)
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27 September 2016 mam one more query is,suppose I m opening A's commission A/c instead only commission a/c.then do I need to transfer the balance of A's Commission a/c to P&L A/c??

Deepti Asawa

Deepti Asawa (Expert)
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27 September 2016 y r u opening A's commission A/c. Profit and loss a/c charge only Indirect expenses

Chandan Arora

Chandan Arora (Querist)
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27 September 2016 bcz we have arout 1500 brokers.and our CA have suggested us to open commission a/c of every person we are paying commission to.

Chandan Arora

Chandan Arora (Querist)
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27 September 2016 kindly suggest