How to account
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
There is a garment Company, which undertook orders from the foreign client.
Based on customer order the company purchase the raw material say No. 10000 mts. but later customer requested to 2000mts and redy to reimburse the balance of 8000mts amount.
The question is How to account the recovered amount from the customer ( Assuming that the unutilised goods of 8000mts is not going to return to customer it is company property)
Can any one help me in this matter.
Thanks & Regards
Abishek Thakur
Based on customer order the company purchase the raw material say No. 10000 mts. but later customer requested to 2000mts and redy to reimburse the balance of 8000mts amount.
The question is How to account the recovered amount from the customer ( Assuming that the unutilised goods of 8000mts is not going to return to customer it is company property)
Can any one help me in this matter.
Thanks & Regards
Abishek Thakur
04 December 2010
make rejection inward entry.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Gift of mutual fund units to daughter
- PPF interest-As Exempt Income disclosure
- Not able to file ITR
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- New Garden in Place of Old Garden
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
