Agent Entry in Books of Consigner...
As I know many accountants manage Consignment Agent account as a Debtors Account but It but be accounted in Consignment agent style... if you are using tally following entry help you... non-tally user can also get help for this...Hope So.....
Account To be created for individual CSA(Consignment Sales Agent) by Company.....
Ledger Sub Grp - Sub - Under
1)Bhopal CSA Consignment A/cBhopal - CSA - Sundry Debtors --> For Stock Status
2)Debtors -- Bhopal CSA a/cBhopal - CSA - Sundry Debtors ----> For Fund Status Accounting Entries
Enteries
1)Bhopal CSA consignment ac/ Dr
To Goods Sent on Consignment a/cCSA wise Stock - amount
(Being Goods Sent on Consignment A/c)
2)Goods Sent on Consignment a/cDr.
Debtors --Bhopal CSA a/cDr.
To Sales by CSA A/c To Bhopal CSA Consignment A/c
(Being Goods sold by Bhopal CSA - Net After Discount Before Tax)
3)Bank A/c Dr.
To Debtors -- Bhopal CSA a/c
(Being Advance Received from Bhopal CSA - for Received amount on Goods Transf. to him)
4)Commissoin a/cDr.
Freight PayableDr.
To Debtors -- Bhopal CSA a/c
(Being Commission, Freight & other Expenses- Not Effecting on stock i.e. only between Co. & CSA)
6)Scheme A/c Dr.
To Debtors --Bhopal CSA A/c
(Being Scheme/Rate Diff.& other Expenses given to Bhopal Dealers i.e. Given CN on behalf of us by CSA)
7)Bhopal CSA Consignment A/c Dr
To Goods Send on Consignment A/c
(When Goods Sold in Excess Rate by CSA) i.e. if Bhopal CSA Consignment A/c shows Credit Balance)
8)Bhopal CSA Consignment A/c Dr.
To Other CSA Consignment A/c
When Goods Trans from One CSA to other CSA
10)Breakage & Damages (CSA) Dr.
To Bhopal CSA Consignment A/c
(If B& D from Own stock of CSA)
11)Breakage & Damages (Sale) Dr.
To Debtors -- Bhopal CSA a/c
(If B& D from Market)
If you have any problem let me know.
CAclubindia
