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Accounting Treatment

This query is : Resolved 
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(Querist)
10 March 2020 Hello All,

We have Ordered for PEB Work to Supplier, as per PO Terms there is LD Clause if supplier not work done within time line LD will be applicable,

Now Work Completed but beyond time line so we are charging them LD.

Tell me Accounting Treatment for LD Amount,

DR to Supplier,
Cr to ?????
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 March 2020 It's related to capital works so credit the LD to related capital works.
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