Show free products in books
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2014
Hi I have two questions -
1. If I have received free samples from a company and I need to sell those officially how will I show the entry in books?
2. If I take out a scheme in the market for my dealers that buy certain amount of products and get few extra products free. How will I show it in books as a discount or free products with 0 value.
1. If I have received free samples from a company and I need to sell those officially how will I show the entry in books?
2. If I take out a scheme in the market for my dealers that buy certain amount of products and get few extra products free. How will I show it in books as a discount or free products with 0 value.
Amol S Joglekar
(Expert)
19 November 2014
01. If the amount is NOT material, show it under casual income. (If you are using ERP, there is a separate module to enter such free sample stock)
02. Debit it to "free sample"...under direct expenses.
02. Debit it to "free sample"...under direct expenses.
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