sales_credit:sales_exchange-local
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sales_credit:sales_exchange-local [2014/07/25 04:31] redwana [Settlement Sales Discount - Local] |
sales_credit:sales_exchange-local [2014/07/25 07:01] (current) redwana [APPROVE (Sales Exchange - Local)] |
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| - | ====== Sales Discount - Local ====== | + | ====== Sales Exchange - Local ====== |
| * Approve | * Approve | ||
| Line 5: | Line 5: | ||
| * Settlement | * Settlement | ||
| - | ==== APPROVE (Sales Discount - Local) ==== | + | ==== APPROVE (Sales Exchange - Local) ==== |
| - | When a local sales discount is approved, the Trade debtor – control A/C's sub account's credit available will be added the discounted amount of money. | + | When a local Sales Exchange is approved, the Trade debtor – control A/C's sub account's credit available will be added the Exchanged amount. |
| + | ==== POST (Sales Exchange - Local) ==== | ||
| - | ==== POST (Sales Discount - Local) ==== | + | When a Local Sales Exchange is posted to GL, the following accounting entries are created. |
| - | When a Local Sales discount is posted to GL, the following accounting entries are created. | + | ^ GL Interface Type/[Account] ^ Account Usage ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ |
| - | + | ^ STOCK IN HAND | Ledger | | Prime | | Returned Actual Cost - Exchanged Actual Cost |If Returned Actual Cost is greater than the Exchanged Actual Cost, then STOCK IN HAND is DR | | |
| - | ^ GL Interface Type/[Account] ^ Account Usage ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ | + | ^ COST OF SALES | Ledger | | Prime | Exchanged Cost of Sales - Returned Cost of Sales | | If Exchanged Cost of Sales is less than the Returned Cost of Sales, then COST OF SALES is CR | |
| - | ^ TRADE DEBTOR - CONTROL A/C | AR | Customer - Account | Prime | |Discount | | | + | ^ COMMISSION PAID | Ledger | | Prime | | | | |
| - | ^ SALES DISCOUNT | Ledger | | Prime | Discount | | | | + | ^ SALES DISCOUNT | Ledger | | Prime | | | | |
| + | ^ SALES | Ledger | | Prime | | | | | ||
| + | ^ GST-OUTPUT TAX (Sales) | Tax | | Prime | | | | | ||
| + | ^ TRADE DEBTOR - CONTROL A/C | AR | Customer - Account | Prime | | | | | ||
| + | ^ COST OF SALES variance | Ledger | | Prime | Exchanged Cost of Sales variance - Returned Cost of Sales variance | | If Exchanged Cost of Sales variance is less than the Returned Cost of Sales variance, then COST OF SALES variance is CR | | ||
| + | ^ TRADE CREDITORS- CONTROL A/C | AP | Supplier - Account | Prime | | | | | ||
| \\ | \\ | ||
| - | |||
| - | ====SETTLEMENT Sales Discount - Local==== | ||
| - | |||
| - | Once the sales discount is settled, Trade debtor – control A/C's sub account's credit available will deduct the discouted amount of money and the following accounting entries are created. | ||
| - | |||
| - | ^ GL Interface Type/[Account] ^ Account Usage ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ | ||
| - | ^ CASH AT BANK | Bank | | Prime | | Discount | | | ||
| - | ^ TRADE DEBTOR - CONTROL A/C | AR | Customer Account| Prime | Discount | | | | ||
| - | \\ | ||
/srv/www/htdocs/wiki/data/attic/sales_credit/sales_exchange-local.1406262697.txt.gz · Last modified: 2014/07/25 04:31 by redwana
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