Accounting entry
This query is : Resolved
16 August 2012
I have purchased Raw Material from Vendor on F.O.R basis and material reached at my premise through my regular transporter( i.e. vendor hired Vehicle fr. my transporter).
After that Trpt. co. has raised bill in the name of my co. and I made made pmt. to Transport co.
Now I have to debit this frt. amt. in the name of Vendor.
Pls. suggest accounting treatment of whole Process.
with thanks and regards
After that Trpt. co. has raised bill in the name of my co. and I made made pmt. to Transport co.
Now I have to debit this frt. amt. in the name of Vendor.
Pls. suggest accounting treatment of whole Process.
with thanks and regards
16 August 2012
Issue a debit note to VENDOR. 1.Transport charges receivable a/c debit TO Transport co a/c.....2.Transport co a/c debit to cash or bank as the case may be......3.Vendor's a/c debit to transport charges receivable
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