My client is providing service for SAP to external clients. They are also purchasing service (SAP) from other external clients.Eg. Client is providing service for the period Dec 2011 to Nov' 2012 and they are receiving contract amount for the full period. Quetion arises whether the amount received for the months subsequent to financial year 2011-2012(i.e from April 2012 to Nov'12) should be charged as Advance received (or prereceived)?? Plz Advice...

Dear Experts,
WAITING FOR THE EXPERTS REPLY FOR THE PAST ONE WEEK STILL NOT RECEIVED. PLZZ ANSWER ME
Can we automate any internal control with respect to accounting of purchases in Tally ERP 9 version?
Such as only if GRN number is entered for the purchase invoice entry can be passed.
Else is there some other internal control pls. share it with me it will be gr8 help for me
Thanks & Regards,
Rajesh.

Dear Experts
Can you please explain the Concept of letter of credit and what are all the types of LC with explanation.

Thanks in advance.

please provide defination of capitalization.

and give an example of capitalization of capital goods.

Thanking you,

please define books of of accounts.

and what types of books make complete books of accounts.


Thanking you,

We are 100% EOU unit ,exporting duty free goods to overseas vendors.
Due to some reason a vendor did not accept 10% goods claiming short receive of goods & paid amount after deduction 10%.
so how we should account for this 10% of goods short recd by vendor.we can not show it as a return of goods because it creates duty liability on us ,moreever in realty we have not recd any goods.
so how to treat this in accounts?

Dear Sir/Madam,

Please guide me about my query that if any party those are not give us pending 'c' forms for the session 2007-08,2008-09,2009-10 & 2010-11 for sales against 'C' forms. At present what type of legal action we can take against those party. If you have any legal idea bout that then guide me.

Your advise is highly appreciable.

Best Regards,
Sanjiv Dhiman

Sir,
What's the appropriate way or rectification entry to be made for the error made in the previous year.
These are the original entries passed in the books of the company,

a)Expense booked in the previous year, [ie, on 31/03/11 (FY-2010-11)]
Expense A/c Dr 1104
To Party A/c 1104
[liability being booked in march(service tax wrongly included in expense)]

b)Payment made in April (FY-2011-12)
Party A/c Dr 1000
Service Tax A/c Dr 104
(paid on input services)
To Bank/Cash 1104
(payment made and service tax paid on input services booked)

is the following rectification entry apt?

Party A/c Dr 104
To Prior Period Expense 104
(rectification entry for the excess booking of expense and liability in the previous year)

Please do reply,,,

-Thanks & Regards

Hello !
I want to know how we calculate depreciation what's rules.For example I have machinery Rs. 100000/- between the year purchase machinery Rs. 5000/- on 10th December kindly advise for the same.
Regards
R.K.Saini

Please give the entire excel format of new schedule six...along with detailed schedules & groupings having hyperlinks....etc...