Accounting entry

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9 Points Posted on 12 January 2020
1)Is accounting entry required in case a machine is sent for repair during warranty period and vendor will not charge any fee for the same??

2) Is accounting entry required if machine gets damaged and is sent to its vendor for replacement during replacement period?
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On 12 January 2020 at 22:35 Report
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This discussion clarifies whether accounting entries are necessary when machinery is sent for repair or replacement under warranty, with no associated costs. The consensus is that no formal accounting entries are required in such scenarios. However, it is crucial to maintain thorough records of these transactions for documentation purposes, even when no financial amount is involved.

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"Do the Right Thing...!!!"
128157 Points Posted on 13 January 2020
No... No need any accounting entries in both condition.

But, keep records for the RM schedule for Your documents...
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On 13 January 2020 at 06:55
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GST Practitioner & Accounts
15146 Points Posted on 13 January 2020

If  the  amount  is  not   involved  in  both  transaction    , then  No  Accounting  entry (J.E)  ,however  you have  to keep  record . 

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On 13 January 2020 at 07:24

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