How to Pass Sales Entries?

We know that

Sales Entry are of form

Party Dr

      To Sales

Or

Cash/Bank Dr

      To Sales

 

Example 1

MY COMPANY

Bill To -KISHORE IMPEX

Inv No-2501 Dt 1 Jul 

SALES QTY Units RATE AMT
ITEM A 2000 Kg 8 16000
ITEM B 4000 pcs 6 24000
TOTAL       40000

 Pass Entry


Kishore Impex Dr   40000

    To Sales A/c               40000


Pass Entry assuming Accounts with Inventory


Kishore Impex Dr   40000

    To Sales A/c               40000

       Item A 2000 Kg 8 16000
       Item B 4000 pcs 6 24000

 

 

Example 2

MY COMPANY

Bill to -KISHORE IMPEX

Inv No-2502    Date:- 1 Sep 

SALES QTY Units RATE AMT
ITEM A 2000 Kg 8 16000
ITEM B 4000 pcs 6 24000
TOTAL       40000
ADD        
CGST 2.5%       1000
SGST 2.5%       1000
TOTAL       42000

Pass Entry assuming Accounts with Inventory  

View Answer

 

 

Example 3

MY COMPANY

Bill To-RAKESH ASSOCIATES

Inv No-2503 Dt 1 Sep

SALES QTY(pcs) Units RATE AMT
ITEM A 3000 Kg 23 69000
ITEM B 8000 pcs 25 200000
TOTAL       269000
ADD        
IGST 5%       13450
TOTAL       282450
View Answer

 

 

Example 4

Cash Sales 1000 pieces Item B @ 30 per piece (5% GST Inclusive) on 1 Oct 

Bill No is 2504 

Pass Entry

View Answer
  1. Tally

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.