Advance payment
Querist : Anonymous
Question regarding Import certain good. How to enter in tally.
1. What is the entry for advance payment.
2. If the custom duty and service charges of C& F is totally paid to C&F.
3. What is the entry for import purchase.
4. What date is taken for payment and purchase. If any exchange difference is shown.
Cr.Bank a/c
2)can be paid-settlement to c&f agent will be as per terms
3)Dr.Purchases A/c
Cr.Party A/c
4)Purchase should be recognised when all significant risks and rewards and ownership of goods transfered to you
.
.
suppose your responsibility starts after reaching india port then recognize purchase on that date
.
.
this can be decided by terms of purchase
Querist : Anonymous
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