FREIGHT COST TO BE EXPENSED OR PART OF PURCHASE
This query is : Resolved
Quick Summary
26 July 2021
FREIGHT COST INCURRED ON PURCHING OF MATERIAL IS TREATED AS EXPENSE OR TO BE INCLUDED IN THE VALUE OF PURCHASE .
26 July 2021
Freight payment can be treated as expenses
26 July 2021
It is to be included in the value of purchase.
It is part of inventory cost.
26 July 2021
It can be included in the cost of purchase.
01 August 2021
@Seetha raman Sir .If the freight is treated as expense .Is this a direct expense or indirect exp. And I need to keep the inventory value affected in tally .pls
01 August 2021
Keep it as direct expenses.
01 August 2021
In tally it is asking that inventory value should be affected - yes /No.
01 August 2021
If you want to treat it as a part of inventory cost, select Yes. If you want to disclose it as a separate expense, select no.
01 August 2021
As per AS-2 Inventory valuation freight inward is a part of Purchase Cost.
Do accordingly.
Do accordingly.
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