Accounting entry
This query is : Resolved
05 September 2017
What is the entry for below scenario ?
Suppose we have contract with customer to sale goods of Rs 100,000 and freight outward Rs 10000, totaling Rs 110,000 billed. We don't have transportation facility so we gave to third party and freight outward recovered from customer. There is no relation with customer and third party.
Suppose we have contract with customer to sale goods of Rs 100,000 and freight outward Rs 10000, totaling Rs 110,000 billed. We don't have transportation facility so we gave to third party and freight outward recovered from customer. There is no relation with customer and third party.
05 September 2017
At the time of sale
Bank/customer a/c Dr 110000
To Sales 100000
to freight 10000
when payment is done for freight
freight outward Dr 10000
To Cash/bank 10000
05 September 2017
You ll be make Two entries as per Mr. Ashiwini Ballodia's reply...
06 September 2017
But i have concern about transporter a/c??
How to show transporter a/c in books for payment of 10000 towards transportation charge, assuming transporter is our normal vendor.
How to show transporter a/c in books for payment of 10000 towards transportation charge, assuming transporter is our normal vendor.
06 September 2017
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