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
- STCG....................................................
- Supply through E-commerce Operators
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- TAN for Partnership
- Sales return eway bill
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- REGARDING GST LIABILITY/....
- Specified Profession
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Plot of land. Cost of Acquisition
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
