Booking of Income
This query is : Resolved
04 May 2011
Mr. X is earning income by giving Tuitions. He wants to file his ITR. For this I am making a P&L and B/S. Now while booking the income in tally do I need to book a sale entry ie.
Mr. ABC student A/c Dr.
To Tuition Fees A/c
or can I directly pass an entry
Cash A/c Dr.
To Mr. ABC student A/c
Please guide.
Mr. ABC student A/c Dr.
To Tuition Fees A/c
or can I directly pass an entry
Cash A/c Dr.
To Mr. ABC student A/c
Please guide.
04 May 2011
You can follow cash system of accounting and pass the following entry
cash/bank A/c Dr
To Tution Income
cash/bank A/c Dr
To Tution Income
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