How to make adjustment of Petrol waiver in credit card


This query is : Resolved 

Quick Summary
This discussion clarifies how to handle petrol waivers on credit cards for individual businesses. The petrol surcharge waiver should be offset against the surcharge levied on petrol purchases, rather than reducing the net petrol expense. This ensures accurate accounting by crediting the waiver against the specific charges.

14 December 2022 how to make adjustment of petrol waiver in credit card and how to make journal entry in the case of Individual Business

14 December 2022 Credit the same against the charges levied along with petrol. Its just refund of the same amount charged earlier.

15 December 2022 Sir ,
My question is that
Petrol surcharge waiver can be reduced from petrol expenses
or Book it separate as income

15 December 2022 It is to be reduced from the surcharge levied over petrol.
Net petrol expenses will not be reduced.


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