Loss of stock by thief
This query is : Resolved
20 July 2013
what is accounting entry of loss stock by thief in the tally without affecting gross profit ratio?
20 July 2013
on booking the theft of goods entry it will affect the gross profit ratio.
21 July 2013
In your case suggested entry would be:-
1)Stock Theft (Indirect Exp.) A/c Dr.
To Purchases A/c Cr.
2)If you are maintaining stock in tally, then the in entering purchases you can specify the items lost in theft.
3)This will reflect the amount of stock theft in your P & L A/c and at the time of stock valuation, the lost items is to be deducted from stock value.
You may refer below will be helpful
https://www.caclubindia.com/forum/tally-erp-9-sample-reports--244467.asp#.UVKdsBwZ114
Thanks & regards
Ganesh babu k
1)Stock Theft (Indirect Exp.) A/c Dr.
To Purchases A/c Cr.
2)If you are maintaining stock in tally, then the in entering purchases you can specify the items lost in theft.
3)This will reflect the amount of stock theft in your P & L A/c and at the time of stock valuation, the lost items is to be deducted from stock value.
You may refer below will be helpful
https://www.caclubindia.com/forum/tally-erp-9-sample-reports--244467.asp#.UVKdsBwZ114
Thanks & regards
Ganesh babu k
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
- Audit applicability of ITR
- Query related to 2 buyers and 1 seller in form 26QB
- Excess salary reported by employer to IT Dept.
- Income classification under heads of income under income Tax
- FD source of Income
- Hsn code in GST
- Utilization of interest in TDS challan
- TDS applicable on 2 bill reiceived
- Old tax regime for ITR 3
- Renting of trucks, JCB, cranes etc., is not covered under RCM.
- FOUR DEMAND NOTICE RECEIVED FOR 4 QUARTERS. HOW TO FILE APPEAL
- Capital gain exemption under 54F for construction of flat by the builder
- GST on compensation and Interest of supply made prior GST regime
- Clarification on Entity User, Business User & AD Bank for FC-TRS Filing
- Stamp Duty & Registration Fees on Sale Deed
- Validity of Rectification
- Custom PhD Dissertation Writing Agency
- Rooftop subsidy
- Goodwill calculate
- Applicability of Interest u/s 201(1A) when the TDS threshold is crossed.
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
