Free material provide in annual maintenance contract
This query is : Resolved
08 November 2019
Dear Professionals We are taking Annual Maintenance Contract for maintenance of computers and servers any materials damaged In amc period will be replaced in free of cost in this case how do we treat accounting entry in GST
how manage my stock in business basically want to know full accounting entry
how manage my stock in business basically want to know full accounting entry
09 August 2020
Materials being Replaced free of cost is an expense and needs to be debited. Again if we are charging for the same after expiry of AMC period it would become an Income for the business.
Annual AMC Charges are Revenue in nature.
Annual AMC Charges are Revenue in nature.
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