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Where do you post Credit Sales in Trading or P& L Account,
or should we deduct from the actual sales and put the net
figures in the column. Clarify

Question Posted / kumar

Answers were Sorted based on User's Feedback



Where do you post Credit Sales in Trading or P& L Account, or should we deduct from the actual..

Answer / hrishikesh

All the sales should be shown in Trading account only but
need to classify into cash sales and credit sales.we can
not deduct the actul sals from credit sales.

Is This Answer Correct ?    38 Yes 1 No

Where do you post Credit Sales in Trading or P& L Account, or should we deduct from the actual..

Answer / anudeep

we have to disclose both cash and credit sales in trading
account sales returns will be deducted from sales in trading
account

Is This Answer Correct ?    10 Yes 0 No

Where do you post Credit Sales in Trading or P& L Account, or should we deduct from the actual..

Answer / guest

trading a/c credit side

Is This Answer Correct ?    8 Yes 0 No

Where do you post Credit Sales in Trading or P& L Account, or should we deduct from the actual..

Answer / toms thankachan

all the sales should be shown in Credit side of the Trading
account.

All the sales invoices have to be entered as sales and on
payment reciepts we can use the cash voucher to record the
cash receipts & others will remain as outstanding.

This case is generally applicable in case of B2B.

Is This Answer Correct ?    1 Yes 0 No

Where do you post Credit Sales in Trading or P& L Account, or should we deduct from the actual..

Answer / h.r. sreepada bhagi

Both Cash & Credit Sales will appear on the Credit Side or
under Income in Profit & Loss Account. If there's sales
returns, the same should be deducted from sales to show net
sales during the reporting period.
In case of Credit Sales, the amount receivable from the
customers will be shown under Assets Side of the Balance
Sheet at the end of the reporting period grouped under
'Accounts Receivable' or 'Sundry Debtors'

Is This Answer Correct ?    1 Yes 3 No

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