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Loss of stock by thief

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(Querist)
20 July 2013 what is accounting entry of loss stock by thief in the tally without affecting gross profit ratio?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
20 July 2013 on booking the theft of goods entry it will affect the gross profit ratio.
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Ganeshbabu K

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Ganeshbabu K (Expert)
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
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