Accounting
This query is : Resolved
29 July 2013
can anyone help me how to treat below transactions
We develop tool for a company outside India. The said Tool will be the ownership of the Foreign Company. The said tool is developed by the Third party in India and we will receive payment from Foreign company and accordingly we will pay for the Tools developed by third party.Please let me know how this entry would be passed in my books because I will receiving payment and will pay to third party, there may be some exchange impact
We develop tool for a company outside India. The said Tool will be the ownership of the Foreign Company. The said tool is developed by the Third party in India and we will receive payment from Foreign company and accordingly we will pay for the Tools developed by third party.Please let me know how this entry would be passed in my books because I will receiving payment and will pay to third party, there may be some exchange impact
29 July 2013
your raise sell invoice for foreign buyer
and make payment to third party
job work/purhcases a/c
to third party a/c
when make pay.
third party a/c dr
to bank a/c
and make payment to third party
job work/purhcases a/c
to third party a/c
when make pay.
third party a/c dr
to bank a/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54 f disallowed will be taxed at what rate
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Trust 10AB form required for old asst. years?
- Treatment of Profit on sale of fixed assets
- Form 16 Issues
- IGST Refund pending since June 2022.
- Eway issued more than one
- SEA GOING ALLOWANCE
- Section 12A(1)AC
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
- Credit note for cycle round
- FEMA MONEY REPARTIATE
Trending Online Classes
CAclubindia
