Dear Sir,
We are in construction work, we are engaged with a petty contractor for electrical fitting work with material for Rs. 5,00,000/- total contract value, out of 5,00,000/- we purchased on the behalf of petty contractor for material Rs. 3,00,000/- which is paid to supplier directly and the bill raised by supplier on behalf of us. Now we paid to the petty contractor rest amount 2,00,000/-. How to pass the entries in our book including purchase entries from supplier.
Please help us, thanks
CAclubindia
