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.
Shivam Garg
(student)
(26 Points)
Replied 05 August 2012
Vignesh Shekar
(Article Assistant)
(66 Points)
Replied 05 August 2012
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 :)
Umesh Chand Pandey
(ACCOUNTS CONSULTANTS)
(30 Points)
Replied 07 August 2012
PURCHASE GOODS A/C DR ...................................50000
CST 10% A/C DR.........................................................5000
FREIGHT INWARD A/C DR.........................................100
TO XYZ A/C LTD., 55100
Vignesh Shekar
(Article Assistant)
(66 Points)
Replied 07 August 2012
| 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.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 17 September 2012
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
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
