SINCE WE ARE PROVIDING WAREHOUSING SERVICES AND IN THE FINANCIAL YEAR 2010-11 AN ADVANCE AMOUNT OF 17500 RECEIVED FROM OUR CLIENT WHICH WAS DIRECTLY BOOKED INTO THE WAREHOUSING INCOMES INSTEAD OF ADVANCE RECEIVED FROM PARTY FURTHER WHEN THE SERVICE COMPLETED THE FINAL AMOUNT DID NOT ADJUSTED WITH THE ADVANCE AMOUNT RECEIVED AND FULL PAYMENT AGAIN RECEIVED FROM THE CLIENT IN THE FINANCIAL YEAR 2010-2011 ITSELF. NOW IN THE FINANCIAL YEAR 2011-2012 IT IS COME TO OUR NOTICE AND THE EXCESS AMOUNT OF 17500 IS TO REFUND TO THE PARTY.
SO PLEASE CLARIFY THE ACCOUNTING TREATMENT AND ANY TAX IMPLICATIONS IF WE REFUND THE AMOUNT IN THIS YEAR AS OUR CORPORATION HAS PAID 33.33% TAX ON SUCH INCOME.SO CAN WE PAY THE WHOLE AMOUNT OR AFTER SOME RECOVERY ?

Dear Sir,

What shall be the Accounting and Law implications in case if A private limited company is holding of a Public limited company.....

Regards

Rahul Ahewal

Hi,

i am working in a wire & cable making comapany it is a pvt ltd company,this company comes under SSI,now this company taking Tele shoppe C&F agent as well as Delear ship & Catridge refiling Franchise under same company.

we are using last 4 years Tally.ERP9,now my query is how to maintain the division wise accounts under single bank account in one company.

kindly suggest on this...

Respected Experts

Please suggest/advice me

I want to open a ledger in tally but i m puzzle about that's head

ledger is

Short & Excess under ????????
Foreign Exchange Fluctuation under ?????????

please with explanation

loan taken in 2008 for 5,00,000 which is given for ECS

however, two installments thereof paid twice the time i.e., through bank (ECS) & cash, however cash payment not accounted and excess payment got returned throuch cheque by fiancial institution which is accounted, now statement of account not tallied with books

can any one suggest me regarding this

Dear Sir

Chq issued in the Fy 2010-11 for rent paid, but chq is not cleared on 31/03/2011.

we came to know that chq is not presented in the bank till date and party is not going to present the chq.

My query is we have debited rent paid in FY 2010-11
Now in present FY 2011-12 what is the treatment.

for the FY 2010-11 Finalization of accouts is done.

Thanks in Advance

in tallyerp9 under which group Realisation account is to be opened at the time of dissolution or takeover of the firm by company?

i need a help...

m going to present a topic "HOW TO READ A BALANCE SHEET"

i wanna tips frm experts..

plz help me

Dear All,

Can anyone explain me the difference between interest (receivable) accured but due & interest (receivable) accured but not due. with a good example..

What could be financial impact on P & L and Balance sheet in both this cases

Please help

thanks

Hi Sir,
I need ur urgent help for tally entry case of advance.
case is as follow
person has taken advance of Rs 7900 in july. now its time to salary so i hv to pay salary for july month.his salary is 7000.so what entry i shld pass in tally.bcoz he has 7900 Rs advance.

waiting for your kind revert