Urgent plz.. reply....

Purchase account would be debited by 38000 and packing account would be debited by 2000. 40000 would be credited to respective creditor or bank a/c.... reason for not accounting trade disc is that we record only cash discount in the book of accounts.

HOPE MY ANSWER WAS HELPFULL TO U...

guys i was confused regarding how this entry should be dealt in tally but not simply a journal entry

is the following procedure correct or not :

PURCHASE -- purchase voucher -   debitting all items with its invoice value (purchases) , packing

                                                                 crediting creditor and discount received

PAYMENT - CREDITOR A/C  dr

                                  to bank 

im confused of recording that discount.....

Originally posted by : satish kumar
	purchase a/c DR. 38000 Packing A/c DR.    2000        to Sundry Crediotr/ Bank         40000   however you need to reflect the trade discount as the invocie raised will be showing purchase at 71310/-, less trade discount as 33310...

I completely agree with you friend...

MSC SOFTWARE ENGINEERING FINAL YEAR PROJECTS

I Hope your query would have been resolved, Further If not then make 2 entries with the following Narration to reflect Trade Discount effect in books.

Purchase (Item Name) A/C Dr. 38000

Packing Charges A/C Dr. 2000

To Party 40000

(Being Goods Purchased for Rs. 38000.00 after Trade discount for Rs. 33310 recieved. Packing Charged  Rs 2000.00 paid on goods Purchased)

Party Dr. 40000

To Bank  A/C 40000

(Being Payment made for the purchases)

dear Vihari 

I got ur Point

this is a practical Problem With Tally

in Case 

Discounted Purchase A/c dr.   38000

Packing                                           2000

                  to Creditor                               40000

(In Narration 71310-33310= 38000) Trade Discount 33310

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