Accounting records for medical store dealer
This query is : Resolved
Kollipara Sundaraiah
(Querist)
19 April 2021
Sir,
One of a pharmacy store maintained trader composite scheme registered in GST act recently.
If a dealer purchase of medicines 5 and 12 and 18 % tax rate goods and exempt goods and sales to customers cash mode sales and Google pay and phone pay modes transactions for daily.
Question:
1.Dealer purchase records tax rate wise or consolidate(single) account
2. Sales transactions accounting entires passed procedure in books.
One of a pharmacy store maintained trader composite scheme registered in GST act recently.
If a dealer purchase of medicines 5 and 12 and 18 % tax rate goods and exempt goods and sales to customers cash mode sales and Google pay and phone pay modes transactions for daily.
Question:
1.Dealer purchase records tax rate wise or consolidate(single) account
2. Sales transactions accounting entires passed procedure in books.
19 April 2021
Hello,
It is advisable to maintain Tax Rate Wise Purchase & for Sale you can pass Sales Entry on Daily Basis by Debiting to Sundry Debtors Account & Credit the Debtors Account by BANK (GPAY, Phonepe) & Cash.
It is advisable to maintain Tax Rate Wise Purchase & for Sale you can pass Sales Entry on Daily Basis by Debiting to Sundry Debtors Account & Credit the Debtors Account by BANK (GPAY, Phonepe) & Cash.
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