Hi,
In Tally ERP
I want to raise sales invoice with freight to be received from the customer. for example Rs.100 will be received as freight from the customer and for the goods transport agency i will pay Rs.80.
What will be the entrys?
Ledgers to be created ?
and under which grouping ?
Thanks in advance
Entry for what transactions? for sales with freight receivable or for freight charges payable?
1) Normally Fright outwards Grouped under Indirect expenses.
a) Fright outwards Dr 80 -
To Bank A/c Cr - 80
( When you incurred Expenses )
b) Sundry Debitor Dr 100 -
To Fright Outwards Cr - 100
( While invoice raising )
IF you collect 20% Excess from all of your customer your FO ledger show Credit balance.
Sales with Freight Receivable
Currently my P&L shows Freight Outward as Huge Negative Balance under Indirect Expense
If so, please group that under indirect income (not exps)
The Scenario is Freight Charges Included in the Sales Invoice, which I raise
The Same Freight charges will be paid to my freight contractor.
Hence
will this freight outwards will be shown at Indirect Exp or Indirect Income or
else this Freight charges ledger should be zero by tallying against the freight contractor
CAclubindia
