Is consignment sales is part of turnover of consignor
This query is : Open
KRITIKA ARORA
(Querist)
13 December 2012
Hello Experts
Good Morning
Can you tell me being a consignor if i can club the consignment sales in turnover by showing consignment sales instead of maintaining separate consignment account.. is consignment sales is not part of the turnover of consignor and has to be shown only the profit/loss in General P&L Account derived from consignment account
please help
Kritika
Good Morning
Can you tell me being a consignor if i can club the consignment sales in turnover by showing consignment sales instead of maintaining separate consignment account.. is consignment sales is not part of the turnover of consignor and has to be shown only the profit/loss in General P&L Account derived from consignment account
please help
Kritika
13 December 2012
Sales done on consignment basis will be included in turnover of the Company.
The expenses done by the Company on consignment sales shall be accounted for in PL ACCOUNT.
The expenses done by the Company on consignment sales shall be accounted for in PL ACCOUNT.
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