Bank charges and shipping cost
This query is : Resolved
23 June 2016
Hi
We are buying 150,000/- worth of goods from china and we paid by TT for the same.
Bank charged 250/- as TT charges. again, we paid 3500/- as shipping cost to the supplier.
How can i enter both expenses ?
Shall i include TT charges and shipping cost in Purchase value or do i show it separately under "bank service charges" and "Freight charges " respectively ?
Please suggest me through Journal entries
We are buying 150,000/- worth of goods from china and we paid by TT for the same.
Bank charged 250/- as TT charges. again, we paid 3500/- as shipping cost to the supplier.
How can i enter both expenses ?
Shall i include TT charges and shipping cost in Purchase value or do i show it separately under "bank service charges" and "Freight charges " respectively ?
Please suggest me through Journal entries
23 June 2016
you can book under bank charges, and freight inwards/ clearing charges as direct cost of import of goods.
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