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Goods distributed for samples
Hi,
Some goods we distribute as samples. I wonder what journal entry you make for the transaction. And how you would adjust the stock aslo?
Right now..we enter
goods distributed as free samples A/c Dr.
Sales A/c Cr.
Sales A/c is inventory values are affected so we deduct the goods from here.....
Any better ways to do it?
Replies (3)
As far as my knowledge is concerned the Correct entry will be:
Adverisement A/c Dr.
To Purchase A/C
| Originally posted by : nikita | ||
 |
As far as my knowledge is concerned the Correct entry will be: Adverisement A/c Dr. To Purchase A/C |
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Hi Nikita,
Even i too have same opinion
Also ensure that you have reversed Input vat claimed as per the state VAT Rules.
Subramanya
I feel this entry will not work out for us as we purchase raw materials and sell finished goods. We want to deduct the number of stocks distrubted for sample so your entry will not work out.
Right now we enter
Goods distributed free sample a/c Dr.
Sale A/c Cr.
[Sale a/c is inventory values affected and the stocks are deducted while entrying it]
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