Friends..In badly need of your help. We are online sellers and I am finding difficulty to account the invoice in my system for the invoicing done by Flipkart.
Flipkart is giving discount on their behalf to the customer and raising a Debit note towards Discount, which is actually receivable to me. Please suggest what would be the sales entry and Debit note entry for the same. Giving below the calculation of the Invoice and Debit note as well.
Sales Invoice :
|
Item Selling Price |
359.11 |
|
Item CST |
39.89 |
|
Shipping |
35.56 |
|
Tax on Shipping |
4.44 |
|
Total CST @ 12.5% |
44.33 |
|
Discount |
40.00 |
|
Total |
399.00 |
Debit Note :
Particulars : Reimbursement of discount given to the
customer on behalf of FK Internet
|
Net Amount |
35.56 |
|
Tax Amount |
4.44 |
|
Total |
40.00 |
Kindly help.
CAclubindia
