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Sale donation
hi, if we want to donate one day sale to covid relief, how it should be treated in our accounting books.
Replies (5)
Please elaborate in details
The company decided that we donate all one-day online sale amount to covid relief foundation.
Then the donation should not be recorded as revenue by the company. It will be treated as Donation given in P&L or in Balance sheet. It should be treated as expenses
Ok, what about GST potion?
Gst portion is not part of sales revenue , it's your liability to be deposited in government account. so it can't be donated.
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