Consignment Acounting

In consignee's books, all the entries are routed through consignor A/c...

1. For Goods Recd from consignor, no entry....

2. On expenses incurred,

              Consignor A/c...........Dr

                   To Cash A/c

3. On Sales (Cash/Credit),

       Bank / Drs A/c...............................Dr.

             To Consignor A/c.

4. On Commission Received,

                 Consignor A/c................................Dr.

                         To Commission Recd.

5. On Remmitance to consignor,

            Bank A/c...................................Dr.

                 To Consignor A/c

6. In case the consignee is bearing Bad Debt,

                  Bad Debts A/c..........................Dr.

                        To Drs A/c

Thats all i suppose..............!!!

Best Regards

Madhumita