GST Accounting Entries for Purchase, Sales, P Return & S Return | Entries + Trading & Balance Sheet скачать в хорошем качестве

GST Accounting Entries for Purchase, Sales, P Return & S Return | Entries + Trading & Balance Sheet

🎓 NextStep Commerce simplifies accounting, GST and commerce core concepts with practical examples and clear explanations 🎓 Join Commerce Hub Udaipur - Your Gateway to Success! Subscribe ‪@commercehubudaipur6669‬ Subscribe ‪@NextStepCommerce‬ Need Help? Contact Us: Call/WhatsApp : 9829714364 Email: commercenextstep@gmail.com In this video, we explain Purchase, Sales, Purchase Return and Sales Return accounting entries with GST, including local (CGST-SGST) and inter-state (IGST) transactions. You will clearly understand journal entries, GST impact, and how each transaction affects the Trading Account and Balance Sheet. This video is ideal for commerce students, GST learners, accounting professionals, and beginners. Covered Topics: • Purchase accounting with GST (Local & Inter-State) • Sales accounting entries with GST • Purchase Return (Debit Note) & GST reversal • Sales Return (Credit Note) & GST impact • Effect on Trading Account • Effect on Balance Sheet Practical accounting flow explanation ____________________________________ #gstaccounting #accountants #commercehubudaipur #commerce #bcom #mcom #11thaccounts #12thaccounts #PurchaseAccounting #SalesAccounting #GSTEntries #purchasereturn #salesreturn #commercestudents #accountingbasics #NextStepCommerce ____________________________________ 0:00 – Introduction to Trading Activities in Accounting (Purchase, Sale, Purchase Return & Sales Return Overview) 0:37 – Meaning of Trading / Operating Activities (Core business transactions explained) 0:43 – Purchase Transactions (Cash & Credit) (Basic concept of purchase in business) 1:00 – Purchase Return Explained (Return of purchased goods) 1:11 – Sales Transactions (Cash & Credit) (Why purchases are made – for sales) 1:17 – Sales Return Explained (Policies and reasons for return) 1:23 – Classification of Transactions into Cash & Credit (Purchase, Sale, Returns – all combinations) 2:40 – Why Accounting Entries Become Complex (4 categories → 8 → 16 possible entries) 4:54 – Importance of Correct Voucher Selection (Why mistakes happen in software accounting) Purchase & Purchase Return – Voucher Wise Explanation 5:14 – Goods Purchase Entry (Item Invoice Concept) (Inventory + accounting impact) 6:16 – Services Purchase Entry (Accounting Invoice Concept) (Expenses vs goods) 7:15 – Purchase Return & Debit Note Concept (Why Debit Note is used) 8:49 – Purchase & Purchase Return Summary Sales & Sales Return – Voucher Wise Explanation 9:05 – Sales of Goods (Item Invoice in Sales Voucher) 9:31 – Sales of Services (Accounting Invoice in Sales Voucher) 10:02 – Debit Note vs Credit Note – Core Logic 10:19 – Sales Return Entry Using Credit Note (Goods vs Services treatment) Practical GST + Accounting Example 11:44 – Buyer & Seller Relationship Explained 12:52 – Example: Inter-State Sale with IGST 13:35 – Accounting Entry in Seller’s Books (Output GST liability concept) 15:25 – Accounting Entry in Buyer’s Books (Input Tax Credit concept) GST Returns Impact 16:17 – GSTR-1 & GSTR-3B Impact for Seller 17:18 – GSTR-2B & GSTR-3B Impact for Buyer Debit Note & Credit Note – Deep Practical Logic 19:46 – When Transaction Gets Reversed 21:17 – Who Initiates Purchase Return? (Important Concept) 22:07 – Myth of Debit Note Explained (Why Debit Note is not an independent instrument) 23:30 – Credit Note Creation & Original Invoice Link 24:29 – Partial Sales Return with GST Impact 25:18 – Effect of Credit Note on GST Liability 26:42 – Effect of Debit Note on Buyer’s ITC Final Accounts & Presentation 29:12 – Where Purchases & Sales Appear in Final Accounts 30:08 – Treatment of Purchase Return & Sales Return 30:34 – Debtors & Creditors in Balance Sheet 30:58 – GST Ledgers in Balance Sheet (Output vs ITC) Conclusion 32:14 – Class Summary & Key Takeaways 32:27 – Course & Learning Resources Information