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author's profile photo Former Member
Former Member

Vendor Payment - Sub Contracting

Hi All

We have to make the payment, to the Sub- Contractor on the per Pc bases.

How we can handle the same in PO.

What will be the a/c entry, at the time of GR and at the time of IV.

SF Goods Send

FG Goods Recived

500 / Pc Charges.

With Regards

Niti narayan

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 20, 2008 at 07:09 PM

    Hi,

    DR FG Stock/ SC By-Product Stock

    CR Change in Stock (FG/ SC By-Product )

    (for finished goods received)

    DR Subcontracting Charges

    CR GR/IR Clg

    (for moneys payable to Subcontractor)

    DR Consumption (Components)

    CR Change in Stock (FG/ SC By-Product )

    (material provided to Vendor is now charged to expense)

    Regards,

    LSM

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