There is one my supplier. I purchased raw material from him. In his bill he charged VAT on 80% portion of the bill and on 20% nothing.
My question is that what is accounting entry for this. Whether I should charged entire amount to Raw Material Purchase A/c or I should charge 80% to Raw Material Purchase A/c and 20% to Labour Charges A/c.

e.g. Total Contract Amount 100
VAT @ 12.5% on 80% of Rs.100 10
Total Invoice Amount 120

what is cloud accounting?

Dear Sir,

Please tell Trade Discount received from Sundry Creditors is in under Purchase account or Indirect Income,

while working how i improve my analysis & taxation ? give some good tips what we consider or what not consider, also explained some good tips for analysis of accounts.

Whats per day cash payment limit to employees & others.

Dear Sir,
if new partner is entered in to firm during the f.y. ( feb ) and he gets monthly salary some amt. can i capitalised his annual salary or from feb only ?

Sir,
I want to know the calculation of Debtors,
Creditors
and Closing stock required for bank stock statement monthly.

i am pursuing article ship and going to complete one year .but still i am confused either i am getting a good learning experience mainly because there is no bank audit in our firm but i have done tax audit,internal audit etc..and audit if private company too .so please can anyone clarify me regarding what all we learn in our training and are my worries correct .thanks in advance

sir I am giving both group in may 2015.I wanna know the criteria for admission in big four companies. and most important thing is there any scope for "shiffarish" or reference as I have a political background tell relative. please tell sir. a little bit in brief.

whether fmp to be booked on accrual basis as on 31/03/14?