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HiTech Financial Accounting for Petrol Pumps
Software for Management of Petrol Pumps
Complete with Pump Module, Payroll and Accounts Module
Dip Entry and Evaporation Loss in Tanks
EvaporationLossVoucher.BMP
Dip entry should be made every day or when ever necessary after closing the day. To get help on closing the day by entering machine readings see the following topic:
Post Fuel Sales (Closing the Day)
When you enter dip reading for each tank the stock of the product in the tank shall be calculated from dip chart data. If the stock in the tank is less than the in-stock quantity of the product as maintained by computer then the difference can be attributed to evaporation loss. This evaporation loss quantity is deducted from in-stock quantity by making a voucher. The evaporation loss amt is posted as expenditure and liability in the accounts. You should make provisions to close evaporation loss liability. account
at the end of every year by adjusting this loss account and making appropriate voucher entry.
To create a dip reading first press select the date and then enter command by clicking button marked Add Dip Reading. If you are making very first dip reading of the year this shall be sued to enter the stock of the product. The evaporation loss shall be posted when you make second dip reading. All tanks are displayed in the db grid below . If a CNG tank is also included for dip reading you can delete it from the db grid before creating evaporation loss voucher. Enter the dip reading in the grid and the corresponding fill liters shall be automatically be calculated when you move the cursor down or up to another row. Once all data is filled in press the command button marked Create and Post Evaporation Loss Voucher. This will create a sales bill for evaporation for correct account and inventory posting.
Once a dip reading is entered then another reading for the same day can not be made and the evaporation loss voucher can not be created again. without deleting these records and the sales voucher.
Evaporation loss is shown as expenditure and then transferred to the balance sheet as a liability. You should write it off at the end of year.
Following account head are required in account head setup for the evaporation loss posting:
Evaporation Expenditure (Expenditure)
Evaporation Loss (Liability)
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