The trade margin is reversed on accounts Dt90.2, Kt42. The transaction amount is included in the entry, and the name of the primary documents is indicated.
The company has the right to reduce the selling price - in this case, the markup will also be reduced. Recalculation of the trade markup is reflected in the entry Dt41, Kt42.
As part of this operation, a certain lithuania telegram number database portion of the product price is written off, so another entry is needed: Dt91.2, Kt41.
Important! If the markdown exceeds the markup, taxable profit is not reduced.
Return of products
The basis for this is most often the purchase of a defective or expired product. The trading company returns the money to the buyer, and here the reversed entry Dt90.2, Kt42 is used, reflecting the return of the tax accrued from the markup.
Accounting for markup
Although the share of trade margin in the price of goods is determined by the commercial organization independently, all data is subject to accounting and recording in accounting accounts. The initial document where prices are recorded is the register of retail prices. Based on the values specified in the register, accounting entries are made, and the trade margin on the goods received is reflected as Dt41, Kt42.