Get the free Monthly Return on Movement of Open-ended Collective

For Main Board listed issuers Monthly Return on Movement of Open ended Collective Investment Scheme listed under Chapter 20 of the Exchange Listing Rules

How to fill out monthly return on movement

How to fill out monthly return on movement:

1. Start by gathering all the necessary documents and information such as inventory records, sales invoices, purchase receipts, and transportation records.
2. Begin by entering the date and the period for which the monthly return on movement is being filed.
3. Record the opening inventory by specifying the quantity and value of each item.
4. Proceed to record the quantity and value of goods received during the month. This includes both purchases and any goods transferred from another location.
5. Calculate the total quantity and value of goods available for sale by adding the opening inventory and goods received during the month.
6. Record the quantity and value of goods sold during the month. This can be done by referencing sales invoices or any other sales records.
7. Calculate the closing inventory by subtracting the total quantity of goods sold from the total quantity of goods available for sale. Also, calculate the value of the closing inventory using the appropriate method (FIFO, LIFO, etc.).
8. Enter any adjustments or corrections that may be needed, such as damaged or lost goods.
9. Finally, calculate the cost of goods sold by subtracting the value of the closing inventory from the value of the goods available for sale.

Who needs monthly return on movement:

1. Manufacturers: Manufacturers need to fill out the monthly return on movement to keep track of their inventory movements and to calculate the cost of goods sold accurately. This information is crucial for financial reporting and decision making.
2. Wholesalers/Distributors: Wholesalers and distributors require the monthly return on movement to monitor their inventory levels and ensure optimal stock management. It helps them analyze sales patterns, identify slow-moving items, and make informed purchasing decisions.
3. Retailers: Retailers use the monthly return on movement to track their inventory movement and determine the cost of goods sold. This information is vital for accurate financial reporting, managing profit margins, and evaluating the effectiveness of their sales strategies.
4. Tax Authorities: Tax authorities may require businesses to submit a monthly return on movement as part of their tax compliance procedures. This helps verify the accuracy of reported sales, purchases, and stock levels for tax assessment purposes.
5. Internal Stakeholders: Companies' management teams and internal stakeholders rely on the monthly return on movement to assess the company's financial performance, monitor inventory turnover ratios, and identify areas for improvement.

Overall, the monthly return on movement is essential for businesses across various industries to monitor inventory, analyze sales trends, calculate the cost of goods sold, and ensure accurate financial reporting.

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What is monthly return on movement?

Monthly return on movement is a report that details the movement of goods or services in a specific period, typically on a monthly basis.

Who is required to file monthly return on movement?

Businesses that engage in the movement of goods or services are required to file monthly return on movement.

How to fill out monthly return on movement?

Monthly return on movement can be filled out by providing details on the movement of goods or services, including quantities, values, and destinations.

What is the purpose of monthly return on movement?

The purpose of monthly return on movement is to track and monitor the movement of goods or services for reporting and regulatory purposes.

What information must be reported on monthly return on movement?

Information such as quantities, values, destinations, and other relevant details of the movement of goods or services must be reported on monthly return on movement.