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.
CA PARAS BAFNA
(Expert)
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
