28 July 2018
My Client is in the Business of Beauty Parlor. They purchase Parlor Materials for Consumption and provide parlor Services.Whether I Saw Materials as purchase or as Direct expense and Income as Sales or as Direct income? Please Reply me Thank You
28 July 2018
Services will be accounted in Direct Income...
Products selling is under Sales head...
If selling products will be accounted under Purchase head at the time of purchasing...
In case some of the material used for the service then it will be counted as Consumable for that service....
04 August 2018
actually it was a service oriented business, so purchases of beauty items you can show in their P&L as purchases, and no mean that sales in sense which they providing services to customers so it will be a service receipt as main income
04 August 2018
If Customer will come for facial with cream that's service. The same customs will buy the product it's sales. Sale is selling goods or items... Service is not a good or Items...
04 August 2018
I mean that your are purely service oriented business so here you raise the invoice for that service credit this service invoice at the time of accounting, like Income from Beauty service A/c Cr To Bank / Cash A/c Dr
CAclubindia
