Amazon Sale - Journal Entry

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14 Points Posted on 05 August 2020
If Amazon Sale our product to Mr. X
then What will be the Journal Entry ?

Can we make the cash sale entry ? or
Will we have to make creditor to Mr. X ?

Note: We receive the payment from Amazon after 5 to 6 days.

Please help

Thanks to all in advance for your answers.
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On 05 August 2020 at 09:42 Report
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Quick Summary
This discussion explores the correct journal entry for sales made through Amazon. The user is seeking clarification on whether to treat these as cash sales or create a creditor for Mr. X, especially given Amazon's payment delay of 5-6 days. Advice on incorporating TCS or GST and tools for importing Amazon MTR sales into Tally are also mentioned.

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CA Student
15932 Points Posted on 05 August 2020

See this as an example...

https://www.caclubindia.com/forum/related-with-accounting-of-e-commerce-372355.asp

Accordingly modify it for TCS or GST etc.

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On 05 August 2020 at 11:07
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Personal Assistant
318 Points Posted on 16 May 2022

Hi friends, Also you can directly import Amazon MTR sales entry in Tally directly. I have found one tool where you can import unlimited MTR sales entry in Tally at one click.

Visit - https://www.rdtool.in  |  https://www.xltool.in
 

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On 16 May 2022 at 13:07

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