Wastage of material

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 March 2015 if i purchases 200 pair shoes for employee but after some times it becomes wastage due to non repairable characteristics.so can i reduces my closing stock of shoes by consumption voucher >>??????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

25 March 2015 use journal voucher in tally for same.......

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 dr-consumption(under direct expense)--20000
cr-(what should i credit)-20000

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

26 March 2015 one thing i wanna ask from you... shoes wastage without usig it ???

or once u had used them.. ???

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 no shoes wastage after usage

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

26 March 2015 then dont u have make a entry when u issued it for use....

if you hadnt done... thats wrong...

u should directly issue it from your stores na

if its showing part of closing stock, its totally wrong dear

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 sir i issue shoes and after two months i will found that the shoes becomes wastage...so overall my closing staock reduce

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

26 March 2015 once u issued shoes, its already out of stock and expensed in ur books na

listen ...
what we usually do is

we buy shoes... entered it in our stocks.. once we issue it ... it automatically been debited to an expense account

so now if they are of no use... no entry need to pass.. because they are already been out from my stock na

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 yea sir it right..if i issue shoes to mr harshad.then i make entry in stock journal with creation of employee name in godown creation...so im my books of a/c i transferd shoes from main location to harshad(godown) then my closing stock remain same

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 let me know how to transferd shoes from godown to employee in tally..for this in stock journal i have to create godown (employee name)

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 how to issue shoes to employee in tally?

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

26 March 2015 how u make accounting through out the year... if once u buy something, u putting them as stock...

now what entry u make when u issues any stock in the whole year dear...

We ususally dont make daily entries... we purchase everything and expense it immeidtely through consubmables account... and in year end reverse it with the closing stock we had in our hands....

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 THEN SIR SHOW ME ENTRY OF IT IF I PURCHASE IT AND IMMEDIATELY TRANSFER TO CONSUMABLE A/C

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 IF I PURCHASE 1 SHOES AMOUNT RS600.
1)-DR.PURCHASE=600
CR.CASH A/C=600
TRANSFERRED IT TO CONSUMABLE A/C
2)=DR.CONSUMABLE=600
CR.WHAT SHOULD I CREDIT?FOR COMPLETING IT

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

26 March 2015 purchase it through direct consumbales a.c

consumble dr to buyer

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2015 THANKSSS TO SOLVE IT

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now