01 February 2014
I am doing accounting of Travel agent company. They hire vehicles from thrid party. The bill is like this Invoice Amt - 10000 Less:Diesel - 4000 Total payable - 6000 Less: TDS (2%) - 200 Net Payable - 5800
They give diesel coupons of petrol bunks with whom they have contract, and later make payment to these petrol bunks at the month end. Can someone please advice me on how to account this whole transaction???
CAclubindia
