Urgent.... tally
This query is : Resolved
04 December 2012
regarding trade discount(discount received) in tally:
as trade discount should not be recorded in books ,creating a ledger under indirect income is right or not
in bill discount was deducted as a total but not per product
bill-71310
-discount33310
+packing 2000
=payment 40000
as trade discount should not be recorded in books ,creating a ledger under indirect income is right or not
in bill discount was deducted as a total but not per product
bill-71310
-discount33310
+packing 2000
=payment 40000
CA. Subhash Dangi
(Expert)
04 December 2012
As the trade discount amount of Rs. 33310/- is substantial, it is better to create ledger account under indirect income group in Tally.
04 December 2012
recording TRADE discount as indirect incomes ?? even it is substantial is that correct
can trade discount be recorded in books
is there any other way in tally regarding trade discount
can trade discount be recorded in books
is there any other way in tally regarding trade discount
CA. Subhash Dangi
(Expert)
04 December 2012
Other treatment:
If it is one time transaction, you can account the net amount say Rs.40000/- for the entire product(ignoring trade discount).
However, if these are regular in nature or multi-transactions, then u need to show separately under indirect income.
If it is one time transaction, you can account the net amount say Rs.40000/- for the entire product(ignoring trade discount).
However, if these are regular in nature or multi-transactions, then u need to show separately under indirect income.
04 December 2012
it is not one product it is a collection of various products with its costs...
CA. Subhash Dangi
(Expert)
04 December 2012
If you are purchasing regularly and trade discounts are given whether on single product or various products , it is better to show or disclose separately.
Further, such transactions may be decided for accounting on gross or net basis as per the company policies.
Further, such transactions may be decided for accounting on gross or net basis as per the company policies.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
