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Dear members,

We are manufacturing company and as a policy we provided the some small advances to our employee to taken care their personnel needs,

We generally recover the money from their salary. But some times employee absconded without paying his advance and it is showing under employee advance in our balance sheet

Pls help me the correct accounting treatment and journal entry for write off the money lying in absconded employee as we don't see any chances for recovery

Pls do the needful

03 June 2020 at 22:07


Respected Sir

Please provide your kind advise Can I create the ledger united India insurance company under Loan & advance or Sunday debtors

It's a partnership firm engaged in the business of Real Estate.

Involved in purchase and selling of plots.

In the process Firm has paid stamp duty to the Govt. through Challan by way of cash from outside the books of account for execution of sale deeds in favour of the Firm.

Similarly for execution of sale deeds in favour of customers by the Firm.

In other words the entire stamp duty was paid by way of cash from outside the books.

Now my query is how do I account for these expenses in the Books of A/c.

Can I debit the expenses in P& L and credit the amount to Partners Capital A/c.

Plz advise me.

03 June 2020 at 15:01

Fixed Assets

Rent Deposit paid to Landlord for acquiring of Land on Lease/rent capitalized?

03 June 2020 at 14:01

First year accounts of trust

Amount received in cash for foundation of trust how to show in accounts or by which name

Dear All
Our company is selling products online from our self online portal. We record sales when items delivered to customer. Suppose goods are dispatched on day 1 and delivered on day 5 then we make sales entry on day 5. My question is how we adjust stock on day 1 at the time of dispatching the order in tally bcz sales is recorded on day 5. Please reply.

02 June 2020 at 20:58

Bank account regards

Dear sir /madam,
I started proprietorship concern in sep 19. I have maintaining my accounts transaction in tally. I already have a balance in my savings account of RS 140000.00 in Aug 31 . My doubt is shall I consider this amount as capital account or else. I cannot make the opening balance. Please suggest me sir


We have a retails business, and we purchased 1000 plants to distribute our customers on world environment day.
So the cost whatever we incurred must be accounted under which head..?

01 June 2020 at 21:16


As defined in 'complete set of financial statements comprises' one item includes ''balance sheet as at the beginning of the earliest comparative period when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements'' this why balance sheet at ''beginning of the earliest comparative period'' is to be considered & why not ''end of period''

Dear All,

We were using one laptop for almost three years and provide the depreciation in books as per our company policy. Three days back some one stolen from office.

Since we have outside security agencies hence mangement took the decision to purchase the new one and debit all the money to security agencies

Pls help me with the accounting treatment for stolen assets as well as purchase the new one and money recovered from outside agencies

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