Dear Sir,
few days ago in a night sunndly premise building,s roof poll down the goods and cause effect the goods.
please Suggest how to adjust the books. Goods under insurance.
Approximate Loss 28900
but insurance Pass 17900
how to pass the entry in Tally and how to reduce the stock in Tally
Goods Destroyed Loss A/c Dr 11000/-
Insurance Claim A/c Dr 17900/-
To Purchase A/c Cr 23698/-
To Input CGST @ 9% A/c Cr 2601/-
To Input SGST @ 9% A/c Cr 2601/-
( Being Goods destroyed and Insurance claim admitted by Co )
When you received Insurance claim entry will be
Bank A/c Dr 17900/-
To Insurance Claim A/c Cr 17900/-
( Insurance amount received )
If GST claim as ITC , you must reverse the same ,however you have not mentioned any thing regarding GST in query , % , amount etc
CAclubindia
