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Stock consumption ?
Hi All
please kindly help me with below.
There is a company purchasing stock (spare parts of car) to use in repairing cars then how to maintain stock in tally to know actual closing stock.
I created all ledger of spare parts with opening balance but now confused that how to record entry of stock we are using so can get exact closing stock.
please advise me what is the best procedure to follow to maintain proper stock and accounting.
thanks for help
Replies (1)
Inventory - Spare Parts Dr
Party Cr
(At the time of Purchase)
Spare Parts Consumed / Repair & Maintainance - Vechicle Dr
Inventory - Spare Parts Cr
(At the time of Issue)
Spare Parts Consumed will go in P & L A/c
Closing Balance in Inventory - Spare Parts will reflect Closing Stock
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