Accounting entries
This query is : Resolved
01 April 2016
what entries to be passed when sales tax paid by our consultants and we deposited the funds of sales tax in consultants bank account? ??
01 April 2016
ABC & Associates....Dr
To Bank
To Bank
Message likes :
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01 April 2016
If you pay cash then you have to do entry by challan date
VAT paid Dr
To Cash
or by cheque then
as per expert
(1) when paid to Consultant
ABC & Associates Dr.
To Bank
(2) Challan date (paid by Consultant on behalf of you)
VAT Dr
To ABC & Associates
VAT paid Dr
To Cash
or by cheque then
as per expert
(1) when paid to Consultant
ABC & Associates Dr.
To Bank
(2) Challan date (paid by Consultant on behalf of you)
VAT Dr
To ABC & Associates
Message likes :
1 times
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