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Accounting entries

Mohan Kumar (Clerk) (30 Points)

21 July 2017

Hi, i am wrkng in news ofice i wanted to know the following, plse help regarding this

In tally erp 9, how can i create entries for " cash received from advertisement"

1) at the time of receiving cash agaisnt advertisement published

2) at the time of making tax intries in tally

3) Which account head i have to create " advertisement received" as income to our office

4) plse tl me which one is have to debit and which one Credit. 1)Advertisement 2)CGST 3)SGST

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6 Replies

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 21 July 2017

income from advertising would get credited to the profit and loss account by debit to cash bank or customer if credit is given.
cgst wud be required to be shown under current liability. your entry wud be as follows

cash/bank/customer. Dr
to advertising income

RAJA P M ("Do the Right Thing...!!!") (127162 Points)
Replied 21 July 2017

* You ll be create 'Advertisement Charges' - Under income head.
* CGST & SGST - Under Duties & Taxes...

Now, You pass Journal,
Dr. Customer Rs. XXXXX
Cr. Advertisement Charges - XXXX
Cr. CGST - XXXX
Cr. SGST - XXXX

Mohan Kumar (Clerk) (30 Points)
Replied 22 July 2017

Dear Sir, thank you for your valuable reply.

In journal voucher i passed entries like this, please confirm whether it is correct or not.

1) (Provision entry is passed at the time of advertisement booked)

In tally journal voucher F7

Dr Sri Kanth A/c 1000

Cr Advertisement charges received 950

Cr CGST 25

Cr SGST 25

2) In tally Receipt F6 entry is passed when cash received

Dr Cash 1000

Cr Sri Kanth 1000

Is following entries is corrcet ?

1) Advertisement received is created under INDIRECT INCOME

2) Taxes are created under DUTIES & TAXES

3) Customer Name Where i have to group ? plse guide me regarding this....

Mohan Kumar (Clerk) (30 Points)
Replied 22 July 2017

Thank you for your valuable reply sir....

RAJA P M ("Do the Right Thing...!!!") (127162 Points)
Replied 22 July 2017

1. Yes. You are correct.
2. No. This is wrong entry. You can collect Rs. 1050.
3. Customer name under "Sundry Debtors "

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 22 July 2017

as you are doing the business of advertising the income shud be grouped under direct income.

customers need to be created under current assets by creating a sundry