Quantcast
Channel: SCN : All Content - All Communities
Viewing all articles
Browse latest Browse all 2129

Accounting entry should not happen for the free goods line item

$
0
0

Dear Friends,

 

Please give some inputs for the below scenario.

 

There are 2 line items in the sale order and Invoice. One is main item and Second is free goods item.

 

Price structure in sale order and billing as below

 

Main Item

              

               Price 1,00,000 (PR00)

 

               Tax     15,000 (JVAT)

 

Free goods Item

 

               Price 10,000 (R100)

 

               Tax     1000 (JVAT)

 

Right now Accounting entry at billing as below.

 

               Customer Dr- 1,16,000

               Sales Revenue Cr- 1,00,000 (Main item)

               Sales Revenue Cr- 10,000 (Free goods)

               Tax Cr- 15,000 (Main item)

               Tax Cr- 1,000 (Free goods)

               Free goods Dr- 10,000 (Free goods)

 

But as per my current requirement the free goods revenue which are highlighted in Red color should not happen. Only tax vale of the free goods should flow into the accounting.So entry should be like below

 

               Customer Dr- 1,16,000

               Sales Revenue Cr- 1,00,000

               Tax Cr- 15,000

               Tax Cr- 1,000


Please suggest me how to achieve it.

 

 

Regards,

 

Ravi


Viewing all articles
Browse latest Browse all 2129

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>