How to pass entry for loss of stock in tally ?

Hi Vinayak

the simple treatment is that open a account in indirect exp. "Loss of stock due to _____" and "Stock lost a/c" in Purchases. pass following journal entry

Loss of stock due to _____                Dr.             Rs______

     To Stock lost a/c                                                               Rs ______

(Being stock lost due to ______)

on other hand while valuing closing stock the lost stock will not be taken into account that will decrease profit by that amount and your GP ratio will also not be effected.

Dear Experts

what is legal procedure if stock get destroyed. or lost

Hi  

the simple treatment is that open a account in indirect exp. "Loss of stock due to _____" and "Stock lost a/c" in Purchases. pass following journal entry

Loss of stock due to _____                Dr.             Rs______

     To Stock lost a/c                                                               Rs ______

(Being stock lost due to ______)

on other hand while valuing closing stock the lost stock will not be taken into account that will decrease profit by that amount and your GP ratio will also not be effected.

In Simple words, Deferred Tax Liability is a Provision for Future Taxation.

Pass a single entry in tally

Loss of stock due to ..... (Under Indirect exp.) A/c    Dr.

   To purchase A/c

but how will u do it if u r maintaing accounts with inventory in tally

and the company is a trading concern

shivani

Dear Sushan ji,

Please create a ledger as "Loss of goods (Stock) due to Theft/Fire (as the case may be) etc" under Indirect Expenses and another ledger as "Goods / Stock lost due to Theft/Fire"(with inventory activated) and group it under Purchase Accounts. If insurance claim is receivable, then create ledger Insurance Claim Receivable (under Current Assets) and then pass following JV;

Dr. Loss of goods due to theft                  xx

Dr. Insurance Claim Receivable                  xx

Cr. Goods/Stock Lost due to.....                       xx

when claim is received......

Dr Bank                                                xx

Cr Insurance Claim Receivable                         xx

Hello

I need help with regards to goods lost/damaged at amazon wareshouse. In this case, amazon provides reimbursement as per fair market value decided by it. How can i pass journal entry for this transaction & loss of inventory.

I also have same query and wen I applied same entry in tally the stock does not decrease by it increases...my client is trader of raw cashew and he has to show loss of stock due to moisture. How it can be done?

I also have same query and wen I applied same entry in tally the stock does not decrease by it increases...my client is trader of raw cashew and he has to show loss of stock due to moisture. How it can be done?

I also have same query and wen I applied same entry in tally the stock does not decrease by it increases...my client is trader of raw cashew and he has to show loss of stock due to moisture. How it can be done?

I also have same query and wen I applied same entry in tally the stock does not decrease by it increases...my client is trader of raw cashew and he has to show loss of stock due to moisture. How it can be done?

I also have same query and wen I applied same entry in tally the stock does not decrease by it increases...my client is trader of raw cashew and he has to show loss of stock due to moisture. How it can be done?