Sir.
I purcahses Cement of rs 150000 @ 300 per bag including transport but company says to sell at 250 for which I get credit note of 30 rs and 20 rs is retained by company and increase my credit limit but in tally if I sales at 250 after a purchase at 300 and getting credit note of 30 tally show loss so the retained amount entry in which head should be done as it's not a loss to me because my amount is with company
I think the software is designed to recognise loss during stock valuation. You need customised software because NRV is lower and 50 is inventory loss.
Vakilsearch.com
Chennai
CA Inter
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VIKAS VERMA & CO
New Delhi
Others
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CAclubindia
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