do the debtors outstanding as on 31st march needs to be converted as per exchange rate on that date, or as per actual realised date for debtors realised before we draft balancesheet bt after 31st march. as events occuring after b/s date. & b/s exchange rate for unrealised debtors,

Dear Sir
I need the guidance
Now days i am doing pending work of my client fin.year 2007-2008,for next month sales tax assesment.

the query is i am doing entry in a/c of local purchase bill's , in bill's the detail as below
1)
Material's 13333.33
OutPut Vat 12.50% 1666.67
Total Amount 15000.00

i am doing entry in tally as below
Cr. S.Creditors a/c 15000.00
Dr. Local Purchase a/c 13333.00
Dr. Input Vat 12.50% 1667.00
==========================================
2)
Material's 7658.65
OutPut Vat 4% 306.35
Total Amount 7965.00

i am doing entry in tally as below
Cr. S.Creditors a/c 7965.00
Dr. Local Purchase a/c 7659.00
Dr. Input Vat 4% 306.00

any criteria if i am doing entries as above in round of amount in input tax.

Waiting for reply
Thanks
Arshad

hai,
we are a manufacturer, we are going to prepare our accounts to audit, so we should calculate closing stock, but we have no idea how to calculate closing stock. we have follwoing details
1.purchase of raw material(Local& Import)
2.purchase of consumables (Loacs & Import)
3.electricity
4.freight inward
5.Fuel
6.Alumium & Steel rod in qty & kgs
7.manufacturing and sale qty (month wise)
8.we have taken physical stock as on 31.03.2011
9.custom duty paid details

how to calculate rate of piece,

I am using Tally 9 Educational Version

For making accounts for FY 2009-10 only 2 dates are accepted 1st April and 31st March

I want to prepare voucher with date 9th April 2009, but system is not allowing to take this date.

Is this because of Educational Version or some other reason.

Pls Guide...

All experts are requested to put light on following matter:

A real estate co. has constructed a mall to earn rental income . project is commissioned on 31.3.11 which was continuing for past 5 years.

Please provide guideline how to allocate common expenses incurred over past 5 years since various asset are being capitalised.
Any suggestion to ensure proper audit is most welcome.

Hoping for quick response.

Generally all bank are issuing the TDs certificates after the filing of TDS returns on 15-05-2011.

Now if we don’t know the amount of TDS then how companies are passing the entries of interest accrued on 31-03-2011. alongwith TDS and how they are publishing their audited financial results in newspapers.

Kindly guide

What will be the journal entry for telephone bill for the period of 10/03/2011 to 09/04/2011.

Our company have five plants in different locations in India producing same product. In the FY 2010-11 one unit has purchased one semi-finished material for production of final product from other plant. Transferor plant has transferred the material on selling price (cost + profit margin). My query is
1. We should value the un-utilized transfer material at cost & book the margin as un-realized profit.
2. whether we should also exclude the profit margin from the stock of finished product where the transfer material is used. kindly also intimate the reference note.
thanks

If cash/bank is not a taken over asset, would it be taken into Realisation A/c? The confusion is that in some questions, it is taken in the Realisation A/c while in some, it is not taken into realisation; and instead, a cash/bank a/c is opened with the opening balance. Please Help.

Could you please tell me the accounting treatment of debtors which are pending since 2005-06 in our books till date due to the earlier accounting errors. The amount of these debtors are around 2 crores. ( but actually there is no amount receivable from these debtors)
Could we write them off? If yes, then how and if no then any other alternative.

Thanks in advance