We are a car dealer of Hyundai cars maintaing our accounts in Tally ERP9. We have made groups of various types of cars such Verna under multi group stock option keeping the variants under each group.But at present facing problems in knowing the amount of stock in transit while placing orders.As such we are not being able to know as to how much funds is being blocked.Kindly guide how to treat stock in transit while placing order with the vendor. As stock in transit is to be maintain under current assets please suggest how we can show the car variants under stock in transit again.
Menu
Stock in transit treatment
Replies (1)
You can make use of Stock Transfer journals. Firstly you can create different stock groups one of them will be stock in transit for each of your car model. They will come under the main class of that model. Then you can pass the purchase entry with transferring to Stock in transit of that respective model. Then on receipt of that model you can transfer it using stock journal from "Stock in transit" to "Finished goods".
Recent Threads
- Incorrect Demand reflecting online in govt IT PORT
- Offshore company POEM for Indian resident
- Correction in 26QB filed for late TDS filing
- GST- ITC CLAIM ON LOAN PROCESSING CHARGES
- CApital gains deduction u/s 54EC
- Reversal of Cess shown in provisions credit balanc
- ESOP shares ITR query
- Income tax on arrear payment
- INCOME TAX ON STCG/LTCG
- Ownership Documents for GST registration for Rural
Related Threads
CAclubindia
