Dealer ship deposit non refundable

This query is : Resolved

SANKARA NARAYANAN (Querist)
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18 March 2014 Dealer Ship Deposit Non Refundable is Grouped Under Sales account

Is it correct Accounting System.

How to make accountability in Accounting

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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18 March 2014 Non Refundable Deposit can't be grouped under Sales account because no SALE BILL is generated for such transaction.
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Non-refundable deposit should be shown under DEPOSIT ASSETS and can be amortized during the estimated life (years) of the Dealership.
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Other terms and conditions may be relevant to decide the estimated life of the dealership.
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