24 November 2014
i using tally for book keeping....my query is if i given 10000 rs to mr.salman for mumbai site....i made the entry for this is dr.advance against expenses and cost centrebin mumbai project-10000 cr.cash ac-10000. is this right?
24 November 2014
Yes. It is right. Make the name Advance to Salman for expenses, so that in due course of time you can remember it just by looking at the name of the account that advance has been given to Salman which he needs to clear.
24 November 2014
alternatively u can also mention the same in the narration box
Querist :
Anonymous
Querist :
Anonymous
(Querist)
25 November 2014
but if i make all the payment to salman in payroll voucher says wage and advances etc, i want to give separate effects of amount rs 10000 in the salman's account
25 November 2014
That is why it is suggested to open an account in tally, names and styled as said above." Advance given to Salman for expenses". Group it under current assets