Answer Posted / mubashshir
TRADING ACCOUNT IS MADE BEFORE PROFIT AND LOSS ACCOUNT WITH ALL EXPENSE REALTED TRANSACTION AND TO FIND OUT GROSS PROFIT AND LOSS
PROFIT AND LOSS ACCOUNT IS PREPARED AFTER TRADING ACCOUNT AND BEFORE BALANCE SHEET DIRECT/INDIRECT INCOME/EXPENSES ARE TO BE RECORDED WHICH ARE NOT RELATED TO THE PURE TRADE.
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We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
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