very very urgenttttttttttttttttttt

Dear sirisha you are say credited the amount  directly in to the x's bank a/c

X are deducted his commission and send balance amount to consignor

Example: 100 rs are received in bank amount (direct)

and 80 rs. are send to consignor balance amount is commission shown in his bank account are called his commission

entry is 1)

By Bank A/c 100

To commission recd.   20

to debtors   80

2nd)

By Debtors A/c   80

To Bank A/c        80

Dear Srisha,

         The flow of entries will be as follows,

ON SALES:

Bank A/c    Dr.      1000

        To Sales                 1000

(Being amount realised through sale of ..... at the rate of Rs.......)

Sales A/c     Dr.     1000

            To Consignor           1000

(Being the amount realised through sales transferred to consignors account)

Consignor A/c   Dr   1000

           To bank                                 900

            To Commission received   100

(being the amount transferred to consignor after deducting the commission)

agreed with CA.G.Muguntha Narayanan

Originally posted by : CA.G.Muguntha Narayanan
	Dear Srisha,          The flow of entries will be as follows, ON SALES: Bank A/c    Dr.      1000         To Sales                 1000 (Being amount realised through sale of ..... at the rate of Rs.......)   Sales A/c     Dr.     1000             To Consignor           1000 (Being the amount realised through sales transferred to consignors account) Consignor A/c   Dr   1000            To bank                                 900             To Commission received   100 (being the amount transferred to consignor after deducting the commission)

 Thanks For Guidence...

suppose sale 1000 and commission on that is 20.

bank a/c  dr        1000

to consinors a/c          1000

cansinor a/c dr     20

 commission a/c          20

Agree wid CA.G.Muguntha Narayanan, but instead sales create ledger Consignment Sales A/c to be more specific because only Sales may misguide other.

Thanks,

CA Samir

thank to all members,

thank u so muchhhhhhhhh

Pl. Tell me what is the CST rate on sales in rajasthan 

hi...if anybody intrested in ICSA(MICS) in november from DINESH MADAN sir can take my batch..I have registered but my class is clashing with other classes. If anybody really intrested can contact me. My email id is surabhi_taluka @ yahoo.com.