There are customers who at the time of buying from the depot, may have come with more crates than the quantities he/she intends to purchase. The reason could be the depot was not having all he wanted or the customer may have just brought for safe custody. These customers are called empty crate creditors. Its important to record this transaction in two separate books called general creditors showing all creditors a business owe and individual creditor accounts showing individual running transactions as illustrated below. Here when inventory controller receives empties from the creditor, he records under empties in but when the customer takes it back, he records under empties out and calculates the running balance.
GENERAL CREDITOR EMPTIES ACCOUNT
| DATE | DESCRIPTION | BAL | REF | EMPTIES | EMPTIES | RUNNING |
| B/F | IN | OUT | BALANCE | |||
| BAL.B/F | ||||||
| TOTAL |
PRODUCED BY……………………… SIGN………………….. DATE………………
HOW TO USE THE TABLE
DATE = Record the transaction date
DESCRIPTION = Record first the balance from previous accounting period and list the details of transaction by mentioning the name of the creditor.
REFERENCE = Quote the document number used during the transaction.
EMPTIES OUT= Record the quantity of empties not brought
EMPTIES IN = Record the quantity of empties received as payment.
RUNNING BALANCE = EMPTIES IN – EMPTIES OUT
FOR: SHORT BUSINESS COURSES
BUSINESS COACHING
BUSINESS CONSULTATIONS
BUSINESS SUPPORT
BOOKING
ENQUIRIES
DONATIONS
Email: info@joowabusinessclub.com
justine.opito@gmail.com
Call/WhatsApp: +256774385540
FOR MORE INFORMATION VISIT www.joowabusinessclub.com
