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Former Member
Jan 11, 2018 at 08:27 AM

Vendor Consignment stock consumption w.r.t. to delivery (Without reference)

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Hi Experts,

We have scenario where we are taking Vendor Consignment stock and transferring the same Vendor consignment stock to different stores for sale.

We required when there is any sales from store at that time Stock needs to be consumed directly from Vendor Consignment Stock and following accounting entries should work.

1. Stores (DB) - 120

2. Vendor (CR) - 100

3. Revenue (CR) - 20 ( On this amount only business wants to pay VAT not on 120 as for business the revenue is only 20.

Regards