What should be the journal entry for stock evaporation of Petrol & Diesel? I maintained Inventory in my Tally.Prime
Software. I'm confused... Pls help
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 19 July 2021
Please elaborate in details
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 July 2021
You have to maintain a provision for evaporation based on the past experiences and allocate the cost to finished goods. in tally,
inventory vouchers->stock journal-> select manufacturing journal-> cost tracking field to 'yes'-> under co products, scrap, select the item of finished stock to allocate the scrap.
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 20 July 2021
Totally agree with Yasaswi Gomes. Create Stock journal.
Recent Topics
- Foreign Remittance amount
- TDS on provisions by client resulting in higher tu
- Guidance Requested: Best Books & Info for CS P
- Navigating GST Notices: When 'Lapses' Aren't 'Frau
- Query on POS in GST
- Merger – Filing of ITRs and Section 170A Com
- OCI ( Overseas Citizen of India ) buying property
- Initial Foreign Investment in a private limited co
- Basic questions on parents buying property for the
- 26 AS.NOT ABLE TO LOGIN TO TRACES
Related Threads
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
