Accounting of freight expenses of transport brokers

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My Client  is Doing Business Of  Transport. And Supplies Trucks By Hiring Through Brokers . I Want To Know Accounting Entries To Make For Hired Trucks . Payment Of The Hired Trucks is Made In Two Part .As An Advance And As Balance Payment, What Entries To Make For Truck Hired  Through Brokers And Payment Made To Truck Owners/Brokers..  It should account by crediting to Truck owners or to brokers ?-  PAN USED IS OF TRUCK OWNERS.  DILIP SHAH

Replies (1)

Credit must be given to truck owners. Commission goes to brokers.


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