Dear experts,
Please let me know, if we pay amount for marine insurance then how we will record it in our books.? What will be journal entry for the same.?
Thank you in advance

Dear sir,
In proprietorship, In which account should be recorded in the profit on sale of building. Under capital account or it will treat as indirect income.

Sirs,

The problem is aw follows: There are two directors in a Pvt. Lt company. One of the directors requested for transfer of x amount to another PVT. ltd company where he is also one of the directors.
The directors are mother and son and no creditors as the company is new.
The accountant simply transferred the x amount say Rs. 1,50,000 to that company, say in January 2020.
It was detected now.
If we treat this as drawings then it should be treated as remuneration and TDS had to be deducted which has not been done.
How do we treat this transaction in the books of accounts?

Accounting entry for the land purchase from general reserves.

How to classify OD taken against FD
If we take OD against FD who's tenure is more than 1 year then can we classify this OD in Long Term Loan.in the financials.

Respected Sir,

I never filed Income tax return because my annual income is less then 250000/-. But i am saving every year 70K to 80K in each year from 2008 ( In my saving account) if can i make fixed deposit for RS.700000/- Does income tax department raise any question to me about that. Please advise to me.

Hi,

Should accrued liabilities while preparing financials where invoices have not been received yet include GST?

Dear All,

Requesting detailed SOP samples for:
Accounts Receivables
Cash and Banks
Reporting/MIS
It will be helpful if anyone can share detailed processes for ecommerce company.

Dear Team,

We are a manufacturing company from Telangana.
Can you please advise under which head in tally should we enter Transport/ freight charges for export sales?
We export the manufactured product wherein a few cases the client pays us the transport charges and we pay it to the transporter, hence generate an invoice for transport or freight charges also to the client.
Should it be under direct income or Exports?
Should this value of transport be added to the value of exports for that year ( i.e., if we are considering value of exports for a financial year should value of transport invoice also be added to exports )?

Dear Experts

Company A has appointed a C&F Agent , who is providing the services from a warehouse owned by him/Lease from some one else.

Lets say the company pays Rs X as per month fixed charges that included use of the warehouse as well.
the company decides how the warehouse will be maintained , temperature etc among others .

In such a cases is there an identified asset . Do the company has a control over the use of the ware house .

Many Thanks in advance