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.
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