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Difficult tally entry

Accounting Entries 4322 views 5 replies

we have purchased goods from xyz limted @ 50,000 , paid cst @ 10%, paid freight inward 100. now how will i pass a combine entry in tally 7.2  please help me i m soo confused in it.

Replies (5)
Cst & inward freight(if charged in invoice) are the cost purchase so it is added to purchase a/c. hence the following entry will passed: purchase a/c dr. With cost of material + cst + freight & to creditor a\c with total of invoice. For any further assistance call me 9359056719

Purchase a/c Dr              50000

CST @ 10%                         5000

Freight                                   100

To Creditor for purchases                        55100

 

OR

Purchase a/c dr                55100

to Creditor                                                55100

(in narration: The above value includes cst Rs.5000 & freight Rs.100)

 

thats it :)

 

PURCHASE GOODS A/C DR ...................................50000

CST 10% A/C DR.........................................................5000

FREIGHT INWARD A/C DR.........................................100

                                            TO XYZ A/C LTD.,                                    55100

Originally posted by : Umesh Chand Pandey

PURCHASE GOODS A/C DR ...................................50000

CST 10% A/C DR.........................................................5000

FREIGHT INWARD A/C DR.........................................100

                                            TO XYZ A/C LTD.,                                    55100

hello friend, Akash told that freight has been paid and cost to be added to the value of goods 

so the entry shud be

Purchase  a/c dt        50000

cst a/c                           5000

freight inwards             100

         to xyza/c                             55000

          to cash                                100.

 

add the cst amount to purchase amount

so, entry will be passed as:

Purchase a/c   ....     Dr.

Freight Inward A/c... Dr.

  To Creditor A/c


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