About Nifty and Future & option
This query is : Resolved
20 July 2009
Dear Sir,
My Name is Meet.I'm working in Private Limited company.So,Sir I wants to know how to maintain F&O Accounting in Tally.I Do each and every transaction entered or only Profit & Loss Transaction.
My Name is Meet.I'm working in Private Limited company.So,Sir I wants to know how to maintain F&O Accounting in Tally.I Do each and every transaction entered or only Profit & Loss Transaction.
21 July 2009
Its very easy.
You open the f&o a/c in the name of the respective broker thru which the share transactions taking place.
Open Purchase of F&O and sale of F&O A/c also.
Open brokerage,stamp duty on F&O and other related expenses a/c also.
At last charge the balance in Profit /loss on F&O A/c.
And then check the amt of P/L with the contract note and ledger related to contract note provided to you.
You open the f&o a/c in the name of the respective broker thru which the share transactions taking place.
Open Purchase of F&O and sale of F&O A/c also.
Open brokerage,stamp duty on F&O and other related expenses a/c also.
At last charge the balance in Profit /loss on F&O A/c.
And then check the amt of P/L with the contract note and ledger related to contract note provided to you.
23 July 2009
Alternatively,
1. For Option Premiums paid you debit Option Premium A/c(Direct Expenses or Direct Income) When Options are sold you credit it.
2. For Futures-
A. Open Marked to Market Margin A/c or M2M-xxxxxx A/c for corresponding Futures not settled intra-day.
B. Dr/Cr the a/c from Daily Contract notes for M2M till these are settled.
C. On the day also, when the respective future is settled, Dr/Cr the M2M A/c. Tfr this balance to Profit on Derrivatives A/c.
D. For Intra-Day Directly Dr/Cr the Profit on Derrivatives A/c.
E. Other Expensese A/c , as you require, may be opened like stt, stamp duty or put all exp together in Mis. F&O Expenses A/c
1. For Option Premiums paid you debit Option Premium A/c(Direct Expenses or Direct Income) When Options are sold you credit it.
2. For Futures-
A. Open Marked to Market Margin A/c or M2M-xxxxxx A/c for corresponding Futures not settled intra-day.
B. Dr/Cr the a/c from Daily Contract notes for M2M till these are settled.
C. On the day also, when the respective future is settled, Dr/Cr the M2M A/c. Tfr this balance to Profit on Derrivatives A/c.
D. For Intra-Day Directly Dr/Cr the Profit on Derrivatives A/c.
E. Other Expensese A/c , as you require, may be opened like stt, stamp duty or put all exp together in Mis. F&O Expenses A/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Copyright software
- Transporter Declaration form
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
