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-   -   Settlement charges in a purchase journal entry (https://www.askmehelpdesk.com/showthread.php?t=372873)

  • Jul 7, 2009, 07:33 AM
    teewhykay
    Settlement charges in a purchase journal entry
    I need to know how to classify the settlement charges in a purchase journal entry.
  • Jul 8, 2009, 06:22 AM
    ROLCAM

    You must find out what they are in the first place.
    Identify them out of purchases.

    Do not include them in the Trading Account.

    Once you identify them , charge them
    On the Profit and Loss Account.

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