Clarification on accounting head

This query is : Resolved

vivaa jain (Querist)
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17 January 2021 Under which accounting head ledger for Discount/ rate difference ledger should be created used for both credit note issued & credit note received as well as debit note issued & debit note recieved

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 January 2021 Use purchase and sales head as applicable no separate head to be used.

vivaa jain

vivaa jain (Querist)
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17 January 2021 Ok.. Thank you sir 👍

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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17 January 2021 USE PURCHASE HEAD IF BELONGS TO PURCHASE. DONT USE INDIRECT INCOME HEAD OTHERWISE SAME WILL BE REFLECTED IN SALES UNDER GST

vivaa jain

vivaa jain (Querist)
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17 January 2021 If gst is not applicable on this discount/rate difference amount then we should use purchase /sales a/c or indirect income / expenses a/c

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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17 January 2021 SHOW IT IN INDIRECT INCOME COLUMN

vivaa jain

vivaa jain (Querist)
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17 January 2021 Ok.. Thank you very much 👍

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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17 January 2021 WELCOME.... MY PLEASURE.....

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