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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2015 I am maintaining my business account stock wise purchase & sales of agriculture items which are also damaged or loss while packing and transporting. so how we booked loss of that items in our books and by which entry. I am using tally so tell me how to book loss and reduce by stock items too.

thanks all experts

Amol S Joglekar

Amol S Joglekar (Expert)
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18 September 2015 Create accounts viz loss on damages, loss at the time of packing, loss in transit etc.
debit loss in transit etc.
credit stock item

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2015 in which tally voucher i have to do entry and kindly clarify the ledger group also.

thanks

Amol S Joglekar

Amol S Joglekar (Expert)
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19 September 2015 Loss on damages : Indirect Expenses

Loss on packing : Indirect Expenses

Loss in Transit : Indirect Expenses

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