We have purchased a new truck from a dealer its by a bank loan,the total bill amount of the purchase is Rs 1037996/-
and the bank financed Rs 972200/-.The problem is the statement given by the bank shows that they have financed Rs 976000/- according to this we making bank entries,the bank and our ledger is tally.my question is the difference between the bank loan (actual amount they gave to the dealer) and the figure shows in bank statement
(976000-972200=3800) what to do this amount?

Dear Professionals We are taking Annual Maintenance Contract for maintenance of computers and servers any materials damaged In amc period will be replaced in free of cost in this case how do we treat accounting entry in GST
how manage my stock in business basically want to know full accounting entry

does loan taken by pvt. company from its directors comes under Related Party Transaction under companies act...do we have to report in Notice To Director's Report ?

Sir,

As per Indian Standard , Why will separate Accounting Entry of travel Exps & Hotel Accommadation ?

Any Govt Notification as per Indian Accounting Standard. Please Notification No. detail - If available

What is the Impact of separate entry in Tax Matter?

Greetings.
My company is importing RM and exporting FG to outside the Indian territories. the term of delivery in both the case is having "CIF" basis only.
First of all, can in case of "CIF" delivery term basis we can account the export as sale on the same day once the invoice generated without the shipment and shipment will reach to the destination port after 2 months with the invoice and other document related to export.

And in case of import our company can account the invoice as shipment in transit & payable liability once it's generate at Importer premises without shipment, the shipment for the same will received after 2 months.
and delivery of the good will receive after two month only

Dear Sir,

Can we claim ITC on motor Cycle. we have purchase motor cycle for business Purpose.

Dear Sir

We have give some amount to a firm by Cheque. he will return the same amount after 5 to six months please suggest in which group i create the ledger in tally

Thank you

Hi,

My husband is providing services to the client outside India. He is having his own website. So people come to his website and they take subscription form the website i.e they buy hours according to their requirement. So every client pays money through Paypal. Paypal charges fees for the conversion and transfers the amount to my husband's bank. As clients are buying hours through the website my husband doesn't issue any invoice to the clients as the services are provided only when the payment has been received.
For example
Josh bought 29 hours @ 5USD. Paypal will convert this 145 USD, for this they charge 8USD and convert the 137 USD using exchange rate less than prevailing in the market. So the amount will be Rs. 9366/-

Now my query is:
1) What Journal entries he needs to do for the receipts?
2) Do he need to consider PayPal fee as well?
3) Is it mandatory that he should issue invoice to the client separately?
4) Will the journal entries make any difference if he is using quickboos instead of Tally?


Can anybody please help me? I will highly appreciate the help.

Can Dimunition in value of investments be shown as a extra ordinary item in P/L for a company engaging in the manufacturing business?

Hi,
We are trading importer company in Delhi. We sale goods to Chandigarh party. we hired a truck for dispatch goods to Chandigarh of Rs.9000/- Now we make a tax invoice of goods and want to charge cartage outward & Packaging charges by party in same Invoice. So how we charge it in invoice ? What is the GST rate we should charge on cartage & packaging? HSN/SAC Code of cartage & Packaging charges?