BOOKING OF SALES ENTRY
1) DELIVERY OF GOODS
On Delivery of Goods the following entry gets generated
Cost of Goods Sold a/c…………………………..Dr. xxxx
To Inventory (Finished Goods) a/c…………Cr. xxxx
2) BILLING
On doing the Billing, the following accounting entry gets generated.
Customer a/c…………………Dr. xxxx
To Sales a/c xxxx
To Sales Tax Payable a/c xxxx
3) SALE OF TRADED GOODS
Accounting Entry for Sale of Traded goods
Customer a/c…….………….Dr. xxxx
To Sales a/c xxxx
To Sales Tax Payable a/c xxxx
4) RECEIPT FROM CUSTOMER (INCOMING PAYMENT)
The receipts from Customers are handled through Finance Accounting (Accounts Receivable).
The respective document type for receipt from customers is to be used.
Incoming Bank a/c………………………..Dr. xxxx
To Customer a/c xxxx
5) SALES RETURNS (CREDIT NOTES)
The Sales Returns are processed from SD module.
Inventory Finished goods a/c…….Dr. xxxx
To Cost of goods sold Cr. xxxx
The accounting entry that gets generated in the system is as below:
Sales a/c…………………………………. Dr xxxx
Sales Tax Liability a/c…………………….Dr. xxxx
To Customer a/c xxxx
thank
Thanku so much it is really helpful
very thanks to you
would like to some more entries pls send sir