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Post Info TOPIC: Transferring stock from one company to another
betty121


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Transferring stock from one company to another
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Hi everyone,

 

Can any one help with this query?  I am doing the books for two related companies.  Stock is transferred from one company to another.  I have been DR intercompany debtors and CR purchases.  I now don't think this is right as gross profit is being understated.  Should the transaction be CR sales and DR intercompany debtor.  The stock is sold at cost price and the companies are in the same VAT group.

 

Any help appreciated.

Betty



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