Sales entry in tally for sales made on ebay, snapdeal etc.

You may treat snapdeal as a consignee and debit his account with the commission paid.

Sales......500 cr

Bank.....400 dr

Consignee(snapdeal) comm.....100 dr

 

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At the time of raising sales invoice on customer:-

1. Snapdeal (Debtor) A/c.     Dr.    500

          To Sales A/c.                              500

At the time of receipt of payment from Snapdeal:-

2. Bank A/c.                        Dr.     400

    Commission A/c.              Dr.     100

          To Snapdeal A/c.                          500      

What about TDs and vat ?.

At time of Sales: Dr SnapDeal : 500 Cr Sales : (500-vat) Cr Output Vat : (vat) At time of receipt: Entry 1. Dr Bank : 400 Cr Snapdeal : 400 Entry 2. Dr Commission : 100 Cr Snapdeal : (100-tds) Cr TDS payable : (tds) (TDS amount to be collected from Snapdeal)

At time of Sales: Dr SnapDeal : 500 Cr Sales : (500-vat) Cr Output Vat : (vat) At time of receipt: Entry 1. Dr Bank : 400 Cr Snapdeal : 400 Entry 2. Dr Commission : 100 Cr Snapdeal : (100-tds) Cr TDS payable : (tds) (TDS amount to be collected from Snapdeal)

Cn anybody tell me what if snapdeal is charging CST on the invoice generated online for the sales made outside delhi & seller is registered under DVAT, either seller is supposed to considered it as a retail invoice and pay DVAT or he should pay CST at the rate prevailing in DVAT.

 

If you sell through snapdeal you will be pass entry (VAT rate Current in UP 14.5%) Snapdeal A/c............Dr.......500 To Sales A/c........Cr...................436.68 To Output VAT.....Cr....................63.32 And you will pass second entry. Snapdeal Commission....Dr.....100 To Snapdeal................Cr...............100 Third entry you will be pass. Bank A/c .........Dr........... 400 To Snapdeal.......Cr.............400

Can we consider snapdeal sale invoice as VAT retail invoice or CST Invoice ?

Hello,

When You are selling through snap deal , I think ,the buyer would be someone else than snapdeal. So in my openion, When a sale is happening, You should make the following entry.

Customer A/c .....Dr     500

   To sales A/c                         500

When sale consideration is received from snap deal.

Bank A/c ..............Dr    400.00

    To Snap deal A/c                     400.00

( Amount transferred by snap deal on behalf of customer)

As per snapdeal FAQ for vendors, it is understood that they are charging commision on sale.  Commision normally attract TDS of 5 %  with an yearly limit of 15000. But in your case it is 500, hence no need to deduct TDS. Lets make this entry as follows.

Commision Paid--- Dr..........  100

         To,Snap deal A/c ........................ 100

Now lets, adjust the balance amount of customer a/c to snap deal to close , the customer a/c and snap deal account by passing an adjusting journal entry.

Snap Deal a/c  ....dr      500.00

       To  Customer A/c             500.00

( Being amount settled by snap deal on behalf of the customer)

For making sales entries in tally erp please refer this

 

Sales tax is charged on the base of consingee address. In this case consignee is out of delhi so Vat will be charged by you and retail invoice will be issued (if you are not registered in CST). And if you are registered in CST then charge CST on invoice and issue Retai invoice.

How to enter commission invoices in Tally ERP9, which are generated by FLIPKART, at the end of each month.

Anyone, please help me.