Accounting entry

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naina (Querist)
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15 December 2014 i need to pass an accounting entry for an educational institue, where income is shown on receipt basis and fee is received in installment.
i need to open the account of every student so that i will easily recognise the undue amount of student.

for ex. if any student pay fees 2500, and course in which he is register is 70000 so the outstanding amount id 67500 in student account

Amol S Joglekar

Amol S Joglekar (Expert)
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15 December 2014 If you are maintaining the accounts on RECEIPT basis, NO need to pass the entry for 70,000.
Instead keep a ledger of each student and on top of the page you can write the total course fee

naina

naina (Querist)
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15 December 2014 i need to see the due amount on each student. thn wat entry will be pass

Amol S Joglekar

Amol S Joglekar (Expert)
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15 December 2014 Then better change your ACCOUNTING method from RECEIPT to MERCANTILE

naina

naina (Querist)
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15 December 2014 how to make any organisation registered under iso

Amol S Joglekar

Amol S Joglekar (Expert)
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15 December 2014 There are ISO consultants. You need to appoint them. They take you through a start up till survillance. KPMG, DHS are also into this.

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