Stock in books and stock in physical difference
Nagesh V (Articla Assistant) (33 Points)
24 July 2021
how to handle this issue . pls suggest entry
7 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 24 July 2021
Please elaborate your query
Nagesh V
(Articla Assistant)
(33 Points)
Replied 24 July 2021
Who to take entry in books as per physical stock
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 24 July 2021
If you use software like Tally, you may select physical stock voucher type to make the entry. The software would take care of the rest. Else, you need to manually reduce/increase the inventory. ITC to be reversed on inventory written off.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 24 July 2021
This could also mean
physical check as the difference due to pilferage or bill of entry wrong,
or WIP and finished stock not reconciled for normal waste.
is the physical differences high are low?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 24 July 2021
Somehow you must have added caste value as finsihed stock. That’s why you got that difference
CA Rashmi Gandhi
(Chartered Accountant)
(86469 Points)
Replied 25 July 2021
This type of queries is generally need personal consultation. You may ask this query in message rather than on public platform.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 25 July 2021
There are lots of consultants names here, pm is easier.
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