adjustment of bill

162 views 3 replies
when we make a sale to customer in vat period on 2% billing, now he wants to return it in present or want to adjust this amount to our other company for another purchase so is it possible to take it return or how it can be adjust
Replies (3)

possible but nw u have to charge gst

yes he is agreed to pay...bt what is the adjustment entry

customer will give u debit note  as per applicable amount with gst 

u will give him credit note with gst 

ur party will pass entry for return goods

ur company a/c    xxxxx (full amount)

              To  Purchase          xxxxx (amoutnt munus gst )

              To  gst                    xxxx (as per applicable )

U will give him credit for this 

  sale               xxxxx (amoutnt munus gst )

   gst                    xxxx (as per applicable )

          To party     xxxxx (full amount )

 

            

 

 

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