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Received short amount

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sabyasachi mukherjee

sabyasachi mukherjee (26067 Points)
Replied 10 March 2020

If u break up your outstanding it should not consist of
gst amount but only a portion of the gross bill amount.


CA Naveen Chand

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 10 March 2020

balancing figure > write off to Statement of PL as discount or rebate whatever name called . 

1 Like

Sachin Khawale

Sachin Khawale (12 Points)
Replied 11 March 2020

Cash/Bank A/C Dr.316509
Party Name A/c Dr 10844
CGST. Dr. 7912
SGST. Dr. 7912
Sales A/c. Cr. 332335

10844 is not recovery so it is a Bad debt so adjustment entry is

Bad Debts A/c Dr. 10844
party A/c. Cr. 10844

sabyasachi mukherjee

sabyasachi mukherjee (26067 Points)
Replied 12 March 2020

Naveen wrong

Nilesh

Nilesh (Account Executive) (83 Points)
Replied 07 June 2022

Pass credit note with approval of md. other wise you can demand the balance amount




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