Loss of stock by thief
This query is : Resolved
SHAILENDRE JAIN
(Querist)
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.
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
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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