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Nagesh V (Articla Assistant)     24 July 2021

Stock in books and stock in physical difference

how to handle this issue . pls suggest entry


 7 Replies

Sourav

Sourav (Student)     24 July 2021

Please elaborate your query
Nagesh V

Nagesh V (Articla Assistant)     24 July 2021

Who to take entry in books as per physical stock
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     24 July 2021

If you use software like Tally, you may select physical stock voucher type to make the entry. The software would take care of the rest. Else, you need to manually reduce/increase the inventory. ITC to be reversed on inventory written off.
1 Like
yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     24 July 2021

This could also mean

physical check as the difference due to pilferage or bill of entry wrong, 

or WIP and finished stock not reconciled for normal waste.

is the physical differences high are low?

 

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     24 July 2021

Somehow you must have added caste value as finsihed stock. That’s why you got that difference 

CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     25 July 2021

This type of queries is generally need personal consultation. You may ask this query in message rather than on public platform.
1 Like
yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     25 July 2021

There are lots of consultants names here, pm is easier.


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