Account head in tall for Paint purchase for manufacturing material

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6 Points Posted on 29 December 2023

If we are purchasing paint to apply on product which we are manufacturing, then which accounting head we will use for recording?

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On 29 December 2023 at 13:04 Report
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Quick Summary
When purchasing paint for use in your manufacturing process, it's crucial to assign it to the correct accounting head. The discussion suggests that paint used directly on products or for identifying raw materials should be classified under Direct Expenses as a consumable. This ensures accurate tracking within your Trading and Profit & Loss accounts.

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GST Practitioner & Accounts
15150 Points Posted on 29 December 2023
Under Direct Expense , Trading and P&L Account.
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On 29 December 2023 at 13:12
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Profession
28271 Points Posted on 29 December 2023
Under direct head for paint purchase.
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On 29 December 2023 at 15:19
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"Do the Right Thing...!!!"
128157 Points Posted on 29 December 2023
If You are manufacturer and using the paints for the products, raw material and others (quality identify, raw material identify and some others) then its accountable under Direct Expenses as CONSUMABLE...
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On 29 December 2023 at 17:14

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