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    teewhykay's Avatar
    teewhykay Posts: 1, Reputation: 1
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    #1

    Jul 7, 2009, 07:33 AM
    Settlement charges in a purchase journal entry
    I need to know how to classify the settlement charges in a purchase journal entry.
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Jul 8, 2009, 06:22 AM

    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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