Dear Kelkar ji
Thank you
Actually the value provided is notional. We received the items in stock and
it was disbursed as stock.
My original query is how is this "material received as stock" and same
material disbursed as stock to be entered
and the follow up is how is this reflected in the annual statement of
accounts - if no value in Rs is attached to this.
look forward to your clarification
regards
ram
On 10 June 2017 at 11:45, arun kelkar <arunkelkar@xxxxxxxxxxxxxx> wrote:
Dear Mr Ram
ENTRY 1 - Receipt of 110 T-shirts @Rs 150 per item (items received in
goods)
The fact that rate per piece is mentioned (RS. 150), means that these
shirts were purchased.
So the accounting entry would be to debit "Shirts" or "Gift Articles"
account and credit either cash or bank or supplier's account with the
Invoice amount.
In the Inventory
This will be recorded through Delivery In Note.
ENTRY 2 - Disbursement of 110 T-shirts to 110 participants of the event.
When the Shirts are distributed to participants as souvenir, there will be
no entry in accounting records.
In the Inventory
The distribution of shirts amongst participants would be recorded in the
Inventory through Delivery Out Note. The Transaction Type would be free
sample.
On Fri, 09 Jun 2017 22:43:05 +0530 Krishnakant wrote
I am having Mr. Kelkar as cc to this email because I am really
not in a position to explain how this could be done in terms of
accounting and in GNUKhata.
He would be the correct person to answer.
Happy hacking.
Krishnakant.
On Friday 09 June 2017 04:20 PM,
Ramnarayan.K wrote:
Hi
Wanted to enquire how the following entries
would be undertaken in gnukhata
This is for an event (exampled here)
ENTRY 1 - Receipt of 110 T-shirts @Rs 150 per
item (items received in goods)
ENTRY 2 - Disbursement of 110 T-shirts to 110
participants of the event.
I understand that the easiest would be to show
this as received as cash and cash disbursed
but this is problematic on a couple of issues
1. That no cash was actual received or disbursed and
hence would reflect improper cash flows.
2. Cash was not actually disbursed and it is incorrect
to show disbursement of even small sums , but to a large
group of people.
3. Goods when received should be able to be shown as both
stock and as value. Am unable to find how to do this and
the correct set of transactions
Look forward to specific advice.
kind regards
ram
--
Krishnakant Mane founder and Secretary: Digital Freedom Foundation
arun kelkar
Domain Expert of GNUKhata,
a free and open source accounting software.
Visit gnukhata.in for live demo and Download.
