Accounting for Sale bill discounting
This query is : Resolved
09 June 2010
What are the entries to be passed for sale bill discounting.
1. Accounting the bill
2. Discounting the bill
3. Bank charges recording
4. When bill honoured
5. When bill not honoured.
6. When bill honoured lately.
Thanks for the experts who took time to read and guide.
1. Accounting the bill
2. Discounting the bill
3. Bank charges recording
4. When bill honoured
5. When bill not honoured.
6. When bill honoured lately.
Thanks for the experts who took time to read and guide.
09 June 2010
1.Accounting the Bill is normal Sales Entry
2.Discounting the bill: Dr: Bill receivable Cr: S.Debtors
3.Dr:Bank charges Cr:S.Debtors
4.Honoured : Dr:Bank A/c Cr:Bills receivable A/c
5.If Not Honoured: Dr: S.Debtors Cr.Bill Receivables
6.Either entry 4 or 5
2.Discounting the bill: Dr: Bill receivable Cr: S.Debtors
3.Dr:Bank charges Cr:S.Debtors
4.Honoured : Dr:Bank A/c Cr:Bills receivable A/c
5.If Not Honoured: Dr: S.Debtors Cr.Bill Receivables
6.Either entry 4 or 5
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
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Fixe term employment
- Withdrawal in cash from partners capital account by partner
- Consolidated financials
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Renovation exp. in flat by family member
- Starting trading business
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
