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i am working in bajaj authorised dealer company my question
is when we sale of two wheeler vehicale with finance what
is the sale of entry can you say briefly(how to pass the
sale entry in our books)
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Answer Posted / nagarjuna
WHEN YOU ARE SELLING THE VEHICLES THR FINANCE, FINANCE
COMPANY IS YOUR PURCHASER ON BEHALF OF ULTIMATE CUSTOMER.SO
YOU HAVE TO PASS ENTRY IN YOUR BOOKS AS
FINANCE COMPANY A/C(NAME OF ORIGINAL PURCHASER) DR .XXXXX
TO SALES A/C CR .XXXXXX
(BEING VEHICLE SOLD TO ORIGINAL PURCHASER THRU FINANCE
COMPANY. YOU ARE WRITING THE ORIGINAL NAME OF PURCHASER ONLY
FOR REFERENCE AND ADDITIONAL INFORMATION)
CASH OR BANK A/C DR.XXXXX
TO FINANCE CO (ORIGINAL PURCHASER) A/C CR.XXXX
(BEING CASH RECEIVED AGAINST SALE OF VEHICLE TO FINANCE CO
(ORIGINAL PURCHASER)
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