Stock Transfer
This query is : Resolved
25 February 2010
Sir
1. How can do the accounting entries of stock transfer at factory level/Branch level ?
2. Excise & other Expenses regarding stock tranfer should be loaded on Inventory?
1. How can do the accounting entries of stock transfer at factory level/Branch level ?
2. Excise & other Expenses regarding stock tranfer should be loaded on Inventory?
25 February 2010
1) The stock is simply moving from one store to another and should be accounted accordingly.
2) Expenses like freight for bringing the stock to the branch location can be added to the inventory cost. Excise cannot be added to inventory value for costing purpose but has to be added on to the closing stock value as per the accounting standard.
2) Expenses like freight for bringing the stock to the branch location can be added to the inventory cost. Excise cannot be added to inventory value for costing purpose but has to be added on to the closing stock value as per the accounting standard.
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