Accounts Receivable - Accounting for Freight Costs/Shipping Costs

[@FilipinoAccountingTutorial]

Maraming salamat po sa panonood ng aming mga free accounting tutorials. If you are looking for accounting for freight costs sa SELLER'S perspective and BUYER'S perspective, please watch itong playlist: Ultimate beginner's guide for Accounting for Transportation Costs kzbin.info/aero/PLl-IwImaCVm7RamyxVdBRW9zdchQE7mXe

[@lyyykape]

Maraming salamat po, sir 😭 I have already watched a lot of videos pero ito yung pinaka-detailed at pinakanakatulong sa 'kin. Thank you po, sir. Please continue making tutorials para po marami pang aspiring accountants ang matulungan. Maraming salamaaaat po. God bess.

[@FilipinoAccountingTutorial]

Walang anuman Lyka. Masaya kami makatulong. Marami pa kami videos dito, sana makatulong din ang iba namin videos kapag kailangan mo. Mag aral nang mabuti 💛

[@justinelicuanan2874]

Thank you so much po, sir! Sobrang laking tulong po ninyo sa amin na mga accountancy students lalo na po ngayon na halos self study na ang labanan sa ganitong sitwasyon. Ang hirap pong intindihin kapag sarili lang pero dahil po sa videos ninyo, nagagawa ko na pong maintindihan ang mga lessons. God bless you po, sir! More accounting tutorials/videos to come po! Full support po kami sa inyooo. Stay safe po, sir!!!

[@FilipinoAccountingTutorial]

Thank you for the support Justine. You inspire us to do more accounting content soon. Marami pa rito accounting videos baka sakaling makatulong. Mag aral nang mabuti ❤️

[@joanadelloreto1180]

Thank you po sa mga lesson, sobrang nakakatulong po for fully undertand the lecture. Certified viewer po ng mga lesson nyo. Sana po intermediate accounting and cost accounting din po. Salamat po sir!! God bless

[@FilipinoAccountingTutorial]

Hi Joanaa! Intermediate and Cost accounting noted :)

[@preciouscruz6722]

Ang galing. Second year na ako pero now ko lang 'to naintindihan. Thank you po!

[@FilipinoAccountingTutorial]

You're welcome precious!

[@ericarosales3980]

Thank you Po sir.. Malaking tulong Po talaga sa'kin Yung tutorials niyo.. God bless Po..😇😇

[@FilipinoAccountingTutorial]

You're welcome, erica ♥️ im glad na nakakatulong ang mga video lessons 🙂 mag aral nang mabuti. God bless you ♥️

[@bsa1-akhisnamaegimarangan201]

sobrang thank you pooooo dito na ako lagi napupunta pag diko gets yung sa libro, God bless u po

[@FilipinoAccountingTutorial]

You're welcome, Khisna 🙂 Hope this video will help you ❤️ Mag aral nang mabuti. God bless 🙂

[@iene]

Thank you po. This video help me a lot. Please continue on doing this kind of videos💜

[@entrepinoyenterprise4031]

thanks for aleayss uploading videos that enlighten our mindsss to easily understand accounting

[@FilipinoAccountingTutorial]

You're welcome EntrePinoy!

[@brengelmaricor9576]

Thank You po. Finally, naintindihan ko narin ang topic na ito.

[@FilipinoAccountingTutorial]

You're welcome Campo. Mag aral ng mabuti. 💛

[@brengelmaricor9576]

Opo😊💜

[@markjasoncovers4627]

Thanks for this vid sir. This is our lesson in accnting 121 😊

[@FilipinoAccountingTutorial]

Welcome Mark Jason!

[@veej8997]

thank you so much! this really helped me for my bookkeeping assignment

[@FilipinoAccountingTutorial]

Welcome Veejay

[@leilaunico1199]

thank you for this vid kuya! it really helped me sa quizzes ko ❤️

[@FilipinoAccountingTutorial]

Wow! We're glad it helped! You're welcone Lei!

[@joyceeee3307]

Salamat boss, very well explain 👏

[@FilipinoAccountingTutorial]

Walang anuman, joyceeee🙂 mag aral nang mabuti ♥️

[@kentrichardamoyo7844]

Hello po, thanks po sa video very informative. Pwede po gumawa kayo ng video Accounting Cycle for Merchandising Business. Tha ks.

[@FilipinoAccountingTutorial]

Hi Kent! Sure, gagawan namin ito soon.

[@elizabethsagang7821]

Sana po mag post din kayo ng tutorial for travel and tours at Lessor business na Vat taxpayer. thanks po

[@anjeneldavin9089]

Thank you for making videos about accounting topics po. Really help me a lot po. Continue making vids po. May i request po, if pwede sa next vid ninyu ay JOINT ARRANGEMENTS po? Please po 🙏🙏Thank you po

[@FilipinoAccountingTutorial]

Hello Anjenel. We are happy to help. Could you please give us yung book na gamit nyo for joint arrangement?

[@anjeneldavin9089]

@@FilipinoAccountingTutorial kay pedro p. guerrero at jose f. Peralta po. At may reference din ako na AFAR quicknotes po ni Ivan Yannick Bagayao po

[@hq8342]

keep making videos like ths🤩

[@FilipinoAccountingTutorial]

Yes, more videos to come

[@leonardomaliwanag9600]

Thank you for this. I like po na may patable mas madali magets ung 4 na shipping terms 😊

[@FilipinoAccountingTutorial]

You're welcome Leonardo!

[@yannayanna5439]

anong entry po ni buyer kung sya ang nagbayad ng freight cost [fob destination, freight collect]

[@caneeden28]

Thank you so much. 🖤

[@FilipinoAccountingTutorial]

Welcome Ka ne!

[@kimhyoyeon3106]

Cute ng drawings!!!

[@johnmichaelsollano6077]

thank you sir

[@FilipinoAccountingTutorial]

welcome

[@alliahbaltazar132]

Hello po, request po sana intermediate and cost accounting naman po next. Thank you po

[@romelcabus7916]

Sir maraming salamat

[@FilipinoAccountingTutorial]

Welcome Romel

[@JulieAnnNavarro-n6f]

On December 27, 20x1, ABC Co. received a sale order for a credit sale of goods with selling price of ₱3,000. The goods were shipped by ABC on December 31, 20x1 and were received by the buyer on January 2, 20x2. The related shipping costs amounted to ₱20. ABC Co. collected the receivable on January 5, 20x2. If the term of the sale is FOB destination, freight collect, how much net cash is collected on January 5, 20x2?bakit po 2,980 sagot dito?di po ba pag fob destination,freight collect si buyer magbabayad ng freight cost?

[@mariellebalancio8816]

Thank you po!!

[@FilipinoAccountingTutorial]

You're welcome Marielle!

[@mchuy5225]

Ano po ba ang Debit sa POV ni buyer sa FOB Destination, Collect?

[@ifocuscpareviewonline3009]

Good job! keep it up!

[@FilipinoAccountingTutorial]

Thanks 😇

[@chillax9184]

Hello po pwede pong pahingi ng compound entry sa buyer side nalilito po kasi ako ng entry pag may discount. Thankyou po in advance!!

[@tywon_jamez]

freight in, ikaw yung bumibili, kaya ikaw ang magbabayad ng shipping fee freight out, sila ang bibili sayo, kaya sila ang magbabayad ng shipping fee sayo

[@arjaydeluna1750]

depende pa rin yun sa freight terms

[@loriellainecruz1304]

wala na po bang irerecord na entry kapag same lang po ang nag shoulder at nagbayad in actual ng freight cost?

[@jawwadibarreta9668]

Di ko po gets ang pinagkaibahan ng "Who will shoulder the freight cost" at ng "who pays the freight cost"

[@ryancarisola1701]

Dun po sa kung cnu dapat mgbyad ng FC e since kung cnu napo may ari nun xa po ang my rights sa goods xa nrn po ang my obligation to pay the necessary costs unless free fright by seller....so halimbay ang dapat na mgbayad ay c buyer peo binayaran ni seller ibg svhn inabunuhan ang mangyayari po ay utang e2 ni buyer at mapapsama sa payables nya kay seller

[@ifocuscpareviewonline3009]

"Who will shoulder the freight cost" means who ever is responsible for paying the freight , example for FOB Destination, the Seller owns the goods in transit therefore the Seller is responsible for the freight cost. On the other hand if the term is FOB Shipping point, the Buyer owns the goods in transit therefore the buyer is responsible for the freight cost, then "who pays the freight cost" means who actually paid for the freight. Freight prepaid means the seller paid for the freight cost before the carrier transit the goods to the buyer, and Freight collect means the buyer pays the freight, the carrier will collect the freight from the buyer as soon as the goods is received by the buyer.

[@phalanxeermajrjianq5076]

Bakit sa basic financial accounting ng merchandising namin ang journal entry para sa sale binabawas or dinadagdag sa Accounts Receivable/Cashang recording kapag FOB Destination; Freight Collect at FOB Shipping Point; Freight Prepaid. Walang account title na allowance for freight charges

[@FilipinoAccountingTutorial]

Depende kasi un kung anung shipping terms 😉

[@eduard_zeller]

ayos👌

[@jewelqueen834]

Ask ko lang po kung net or gross method to?

[@coqcyuloresgweneth4734]

hi po pwede po bang gumawa po kau ng vid na ieexplain yung fundamentals ng accountancy BTW grade 11 palang po ako at NASA journal making po kami.. nahihirapan po ako kasi nagkakapaan kami ng teacher namin heheh

[@kennethcastillo4222]

Magbasa lang mapapayo ko sayu at intindihin mo ung mga transactions

[@syrex9763]

FAR Lessons po pls. thank you 😊

[@FilipinoAccountingTutorial]

Hi Jennie! More videos soon.

[@oderflasagnibac1459]

Sir may question po ako."The goods costing 30,000 was pick up by the common carrier in the midnight of December 31 (terms fob shipping point) kasali ba sya sa inventory or Hindi?

[@cristinedelacruz8211]

wala kapo bang example kapag purchase ? or same lang po sila ng process?

[@MikasaAckerman-jw8rm]

Paid freight charges of P7,000 on merchandise, bukod sa cash, ano pa pong account ang involved dito?

[@itsanjjj]

Bakit po sa ibang book walang nilalagay na "Allowance for freight charge" :

[@ivanvincent770]

pwedeng sales discount nlng :)

[@reginabelledizon3018]

question po. paano po ilalagay ang mga freight in at freight out po sa cash flow statement po ?

[@FilipinoAccountingTutorial]

That will be part ng operating activities as cash outflow. Hope it helps 🙂

[@reginabelledizon3018]

@@FilipinoAccountingTutorial thank you po sir

[@FilipinoAccountingTutorial]

You're welcome, Regina. Mag aral nang mabuti 🙂

[@ultraman9083]

Hi po new subscriber here and also a entrepreneur 🙂 Ahm i have some small question regarding about freight kasi im planning to import goods from china and want to negotiate a freight forward as low as possible. How much the freight cost if it's too heavy? I know my goods is not too big in size. Is it the size matters in freight cost? or also the weights? Anyway i love your vlog. Thanks.

[@mitchpilande1542]

Hi Sir baka meron ka rin po video if paano ang accounting transaction kapag nag.Import ng Goods I mean pano macclaim as Cost of Goods ung binabayaran sa BOC☺️TIA

[@FilipinoAccountingTutorial]

Hello mitch sorry wala ako video about dito. Pag importation basically lahat ng gastos mo na substantiated ng valid na receipts na pertaining sa importation is part ng iyong inventory cost. Which is macclaim mo naman pag nabenta na which is cost of goods sold. Hope it helps ♥️

[@johannahruth9065]

Paano po kapag silent yung problem. FOB Destination at FOB Shipping Point lang at walang Freight Prepaid or Freight Collect. Thanks!! 😊

[@ivanvincent770]

Automatic kung sino may ari (e.g. FOB DESTINATION- SI SELLER / FOB SHIPPING POINT - SI BUYER MAGBABAYAD)

[@stunrazor]

Question po. Kung Tindahan po ako ng papel tapos po for delivery ang goods. Paano ko po ilalagay ang Freight cost sa Sales Invoice?

[@FilipinoAccountingTutorial]

It depends, stun 🙂 ikaw ba mismo ang nagdedeliver ng papel? Or nagamit ka ng common courier like j&t, flash express, lbc? Depending on the situation. Hope this will help.

[@stunrazor]

@@FilipinoAccountingTutorial for example,ako po ang Seller,gumamit ako ng Courier like J&T. Pwede ko po ba ilagay sa Sales Invoice yung Freight fee or shipping fee at handling fee

[@sayrasabiles9458]

Pwede po bang mag request ng tutorial for accounts receivable for doubtful accouts and sa notes receivable po asap po 😅😅 thank you po❤

[@FilipinoAccountingTutorial]

Hi Sayra! Next na ang accounting for bad debts. Thanks!

[@sayrasabiles9458]

@@FilipinoAccountingTutorial thank you po

[@dannmusico276]

Tanong lang po sir, Sa FOB SHIPPING point po, Freight prepaid Ar na 500,000 plus Freight cost 10,000 po ang dapat na total Accounts Receivable? I think,debit accounts receivable 510,000 Kasi credit Sales is 500,000 And cash (binayaran ni seller) 10,000

[@shurikengallaga4727]

Hello po, sir what if, instead of allowance for freight charges ang nilagay po na credit is a/r is it also correct?

[@airaleajane]

up

[@jahnna6007]

Sir tanong ko Lang po Kung may difference po ba sa entry Kung may word na 'additional' po pagkatapos ng freight collect? (FOBD, freight collect additional *amount*).

[@FilipinoAccountingTutorial]

Hello Jahnna. First time ko nabasa yang ganyang term thru your comment. If may ganyan, I think yung amount na pertaining sa "additional" ay yung freight cost. Tapos apply mo lang yung accounting for freight terms. Katulad ng nasa videos namin. Hope it helps.

[@jahnna6007]

Thank you po Ng maraming maramii 🙏 sobrang galing nyo po magturooo 💯 God Bless po 🙏

[@FilipinoAccountingTutorial]

Walang anuman Jahnna. Mag aral nang mabuti ❤️

[@krishiapagkaliwangan7872]

Thank you po for these kinds of videos, very helpful. Ask ko lang po paano if FOB Destination, Collect tapos sa books naman po ni buyer?

[@FilipinoAccountingTutorial]

Hello Krishia! Kapag FOB Destination freight collect, the entry sa point of view ni buyer ay: For the purchases: Dr Purchases Cr A/P For the freight cost: Dr A/P Cr Cash Hope it helps

[@maritesbatac5545]

Bakit po A/P ang debit? Hindi po ba A/R since hindi po un obligation ni buyer? Enlighten me please...🥺

[@girliedelfin1662]

@@maritesbatac5545 Debit ang A/P since FOB Destination ang seller dapat ang mag bayad pero since freight collect si buyer nagbayad so mabawasab ang payable ni buyer kaya siya dinebit tsaka credit cash kase si buyer ang nagbayad hehehe

[@nasm5542]

@@FilipinoAccountingTutorial hello, wala po bang ilalagay ng Purchase discount? Freight in?

[@jamesdagcutan4332]

What is FOB?

[@jahdiosyewonkim2031]

Good Day po sir! Dba po sa FOB Shipping point, freight prepaid is sabi mo po may utang pa si buyer na 10k, dahil si seller yung nagshoulder ng transportation cost imbes na si buyer? Bakit po hindi added si 10k sa accounts receivable po? Dba dapat po Dr. Cash 495k, Dr. SD 15k, Cr. A/R 510k? Or mali po ako? Kasi po yung initial entry po dapat before collection is Dr. A/R 510k, Cr. Sales 500k, Cr. Cash 10k. Sorry po kasi freshman palang po kasi ako eh. Naguguluhan lang po ako kasi iba sa book namin.

[@FilipinoAccountingTutorial]

You are correct, jahdios 🙂 lahat ng entry na minention mo sa comment is correct. If gagawin mo compoubd entry ang lahat ng entries na nasa videos ko, you will come up on the entry na sinabi mo thru comment 🙂 I separate the entry for the sale and for the freight cost para mas maiitindihan ng viewers yung accounting for freight. Hope it helps ♥️

[@enzoboyvlogs9301]

Same lang po b ang freight in at freight prepaid? Thanks po

[@FilipinoAccountingTutorial]

Hello Enzoboy! Magkaiba sila: Freight in - refers sa freight charges or transportation charges ng mga purchases ng inventory. Freight prepaid - means si "seller" ang nagbayad ng freight charges or transportation charges. Hope it helps.

[@enzoboyvlogs9301]

@@FilipinoAccountingTutorial sobrang nalilito po ako dito 😂 thank you po sa pagawa ng mga tutorials. Malaking tulong po

[@jollynunez8987]

Hello po, Ask ko lang po. Paano po nakuha yung 97% sa FOB Destination, freight prepaid? Yung sa collection po yun ni-multiply po sa 500,000 cash?

[@FilipinoAccountingTutorial]

Hello Jolly. 97% nalang kasi ng AR yung macocollect dahil sa 3% discount. (100% - 3%) Hope it helps.

[@jollynunez8987]

Thank youuu po✨

[@renzobabycakes]

Sir, bakit po kailangan pa pong may iba't-ibang may mag-ari pag nag shipping na po? Bakit bawal naalng pong si buyer nalang po yungg may-ari sa lahat ng freight terms kasi sa kanya rin naman po mapupunta yung goods hindi kay seller? Thank you po and have a nice day

[@FilipinoAccountingTutorial]

Hello Klarz! Ilan sa mga importance ng shipping terms ay para maidentify ang mga ss: *kung sino ang may-ari ng goods while ito ay intransit *kung sino ang incharge if sakaling masira or mawala ang item while intransit *kung sino ang magbabayad ng freight cost, taxes and other fees *kung sino ang covered ng insurance. Hindi din lahat pratikal na si buyer magtake ng responsibility, pwede nya un ikalugi. Hope it helps.

[@renzobabycakes]

Ay ok po thank you po sir. Have a nice day and godbless po. Sana po makagasa pa po kayo ng maraming videos at lalo pa pong dumami subs nyo.

[@krystaljenninecrisostomo6783]

Kailan po gagamitin ang freight in?

[@FilipinoAccountingTutorial]

Freight in - for puchases transaction Freight out - for sales transaction

[@estesgaming9851]

Bakit naging 97 percent yung sa cash?

[@FilipinoAccountingTutorial]

97% lang ung magcocollect kasi na avail yung 3% discount.

[@geliace2833]

Merchandising naman po 😅

[@FilipinoAccountingTutorial]

Hi Geli! Sige noted ito.

[@geliace2833]

Thank yousir. Medyo po kasi alanganin kami about transaction of merchandising

[@kasja78]

Sorry, but is it in English???

[@angelataleon69]

ang complicated mag-explain di ko magets

[@jefer.cuenca]

Gusto kung umiyak

[@FilipinoAccountingTutorial]

Why Jefer?

[@nasm5542]

Kaya mo yan kuya! God is with you. 🙏

[@j.a.3138]

title in English..speaks a different language. thanks for wasting my time.

[@FilipinoAccountingTutorial]

Thanks for the comment J.A. 💛 Filipino Accounting Tutorial, as our KZbin channel name suggests, delivers accounting lectures mostly in the Filipino language for aspiring Filipino CPAs 💛