A tech logistic Advisory does following financial transactions
1. Gets prepaid money from its customers(B2B & B2C), a part of that money will be sales and other part will be passed on to Delivery Service Company because they actually get to that customer place and get goods and then go to destination to deliver goods
Journal Entry will be
1.1 Bank A/c Dr. 1,000
To Adv. From Customers. 1,000
(Being Prepaid money received)
1.2. Adv. From Customers. Dr. 100
To Sales. 100
(Being Sales for Delivery Advisory Service)
1.3. Adv. From Customers. Dr. 900
To Vendor Delivery Co. 900
(Being Delivery Charges Payable to Vendor Delivery Co.)
1.4. Vendor Delivery Co. Dr. 900
To Bank. 900
(Being Delivery Charges Paid)

The above entries are fine and easy.

But I want to know how to account for Cash on Delivery transactions. Sometimes, customers will have C.O.D. so I am liable to pay him the COD amount which I get from the Vendor Deliver Co.

Dear Sir/Madam,

Can any body please share Cash Flow & Fund Flow statement format in excel with formula etc.

Thanking you !

Regards,
Krishna

Company Owner Purchase Gold Worth 1,50,000.00 For Personal Use From Company GSTIN . Then What Will Be Entry In Company Books

Can anyone please guide me regarding the journal entry for Interest on Loan during the Moratorium Period? As interest gets added to the principal outstanding amount, we can not claim it as an indirect expense under the profit and loss account. Then do we have to capitalise the interest amount as we need to balance the loan account as well?

Suppose, Mr. A is having proprietorship business working with his brother Mr. B. Now both formed a new LLP with equal share to carry all trade activities through it. The proprietorship is still active though. Now, the initial capital (5 lacs) of LLP have been brought from proprietorship's current a/c, which is to be shown as equally contributed by both in LLP books. How to pass entries in both firms regarding this?(whether to show it as loan or capital withdraw in proprietorship)

How do i record a journal entry for an invoice paid by our customer from foreign?.
Example My inoivce was $ 2780.00 and i received the payment from my debtor amounting $2773.00. I realised the shortage was due to the exchange currency. How do i record my journal entry to reconcile my account?.

Kindly let us know is there any change in audit format or the format of Financial statement of partnership firm or non corporate assessees

HAI SIR,
I AM WORKING SEZ UNIT, WE ARE 100% EXPORT BUSINESS.
I NEED SOME CLARIFICATION FOR BOOKING FOR SALES, RECEIPT & CONVERSION ENTRY.
1. SALES ENTRY :
CUSTOMER A/C CR $ 1,000/- @ 69/- = RS. 69,000/-
TO SALES A/C DR $ 1,000/- @ 69/- = 69,000/-

2. WHEN THE MONEY RECEIVED : CUSTOMER A/C DR $ 1,000/- @ 70/- = RS.70,000/-
EEFC BANK A/C CR $ 1,000/- @ 70/- = RS.70,000/-
DIFFRENCE AMOUNT RS.1,000/- FOREX GAIN ( THIS AMOUNT ACCOUNT GOES TO CUSTOMER A/C )

3.BANK ENTRY RELATED :
WE RECEIVED PAYMENT FROM CUSTOMER ON 01.07.2022 $ 1,000/- @ 70/-

WE ACCOUNT IN TALLY FOR BANK ENTRY :
CUSTOMER A/C DR $ 1,000/- @ 70/- = 70,000/-
EEFC BANK A/C CR $ 1,000/- @ 70/- = 70,000/-


EEFC TO LOCAL BANK TRANFER A/C.
EEFC AMOUNT CONVERT INTO LOCAL CURRENCIES.

EEFC BANK A/C DR $ 1,000/- @ 72/- = RS.72,000/-
TO LOCAL BANK A/C CR $ 1,000/- @ 72/- = RS.72,000/-

BALANCE RS. 2, 000/- EXCESS IN BANK BOOK .

HOW TO ADJUST IN BANK BOOK. WHICH LEDGER PASS THIS DIFFRENCE.
KINDLY GUIDE ME .

How do I recognise revenue under Ind AS 115 for a lifetime subscription fee received upfront (say 10k). The company has to pay some portion (Say 200) annually for the maintenance of such subscription.

1) I HAVE QUERY ABOUT BALANCE SHEET IF PERSON HAVING PROPRIETORY BUSINESS. WHETHER HE NEED TO BE MAINTAIN BOTH BALANCE SHEET SEPARATELY OR COMBINE BALANCE SHEET ???

2) AND IF HE HOLDING SHARE AND STOCK INVESTMENT THEN WHERE SHOULD BE MENTIONED IN IT. PERSONAL OR BUSINESS.

3) SHOULD HE NEED TO MENTIONED FLAT OR HOUSE PROPERTY IN HIS BUSINESS OR COMBINE BALANCE SHEET ?

NOTE HE IS HAVING ONE BANK ACCOUNT