Please help to record Accounting entries for food delivery aap
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Accounts entry e commerce
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Please elaborate in details
Food delivery aap obtains order from customers . delivery aap purchase the food from partners and sell to customer.for that aap will get commission and delivery charges.my main doubt is whether to record purchase and sale or only commission and also get information relating to payment to be made to hotel.the payment is made to hotel after one week after deducting commission
Since the delivery app is taking orders on a principal to principal basis and withholding the commission and paying the rest to the hotels after a week, it is advisable to record purchase and sales instead of only recording commission.
Yes Kev is also right
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