CREDIT NOTE FOR FREIGHT ON GOODS RETURNED
This query is : Resolved
15 November 2019
SIR,
I SOLD GOODS TO PARTY ON TO PAY BASIS.
THEY RETURNED SOME AND SENT ME A DEBIT NOTE
AND NOW THEY ARE HOLDING ON THE FRIEGHT AMOUNT
AND I WAS ASKED TO MAKE A CREDIT NOTE FOR FRIEGHT
WHAT SHOULD BE THE ENTRY IN TALLY
I SOLD GOODS TO PARTY ON TO PAY BASIS.
THEY RETURNED SOME AND SENT ME A DEBIT NOTE
AND NOW THEY ARE HOLDING ON THE FRIEGHT AMOUNT
AND I WAS ASKED TO MAKE A CREDIT NOTE FOR FRIEGHT
WHAT SHOULD BE THE ENTRY IN TALLY
15 November 2019
At the time of sales you are supposed to pass the following entry.
Customer account Debit
Sales credit ( Basic amount) Credit
GST Credit
Forwarding charges recovery ( income) Credit
Now you are reversing freight recovery by raising CN
Forwarding charges recovery Debit
Customer Credit
Customer account Debit
Sales credit ( Basic amount) Credit
GST Credit
Forwarding charges recovery ( income) Credit
Now you are reversing freight recovery by raising CN
Forwarding charges recovery Debit
Customer Credit
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