Ecommerce accounting entries

I am importing 2 items say named A and B in invoice and entering the same as A and B in my tally. If I want to sell combo of A and B named AB on ecommerce website, how do I make the sales entry in tally as there is no item in my inventory as AB.

 

Rgds

Sumit

Replies (7)

dear sumit, You can resolve this issue by making a new inventory item as AB COMBO. Although there is no such item as AB COMBO but it can be created by passing a Stock Journal Entry in Tally. This is how we create and account KITS, which may contain several items in a package. If the package or kit or combo remains in stock, it can again be bifurcated into individual items.

Thanks for your reply. you mean to say that under source I would mention A and B and under production would create AB?

 

 

Exactly,

Even you can keep all the three Inventory Items as A, B, AB COMBO, depending upon the sales pattern, and your accounting software.

Thanks again for your reply. one more thing I wanted to ask. if a supplier gives me an invoice writing item as artificial jewelry sets , qty; 1000. Then can i break them into different articles of different styles and code them like SE01, SE02 and many more 

 

 

Of Course you can do so but  this wil be a challenging  task for you and your accountant as well. Please Consider.

1) How Jewellary sets are created

The supplier from whom you purchase jewellary set, initially purchase individual items and sell it to you in sets. Now the challenging task will be to apportion the cost between Necklac, Bangle, Ear pins etc. as you dont have their individual cost value.

2) solution:

If you want to break sets purchased from your supplier and break them into individual items, then follow the Sale Value as the basis for breaking the cost of Sets into individual Items.

Suppose You Purchased a set value 5000 which included Necklace , ear ring, bangle.

Now you want to break them into individual items. If you sell them individually at 5000,3000,2000 respectively, then the cost shall be apportioned as 5000*5000/10000, 5000*3000/10000, 000*2000/10000 for Necklace , Earring and bangles Respectively

Suppose gst RATES for products A & B are different then which rates should be applide to COMBO PACK

HIGHER OF ANY ONE .?

it depends on as to what the final product is, does it become a product which generally in market is provided in set or otherwise?,,if the final product is a product which is generally not available in combo, then you will have to apply higher rate on the total consideration.

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