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
Venu Kappala (Accountant ) (47 Points)
19 July 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 19 July 2021
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)
(86220 Points)
Replied 20 July 2021
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