In a going concern business, When started accounting in Tally ERP9 for first time, Whether the entry on the first day of financial year (i.e 1st April) for opening bank statement by debiting the bank a/c and crediting the capital a/c is correct way of accounting or simply creating bank ledger with opening balance and leaving the balance sheet as difference in opening balance on liability side is ok. What will be the entry for opening balance of bank statement? Please guide.
Hello all, If a service firm receives advances in march 2023 which is the ending month for FY 2022-23 but the actual work will be start in the month of April. Where this revenue should be recognized?
If recognized in the month where it is received, then where it needs to be shown in this year's balance sheet?
Also what would be treatment for advances in march and april month?
Hello,
I have received a professional service amounting to INR 25,545/- excluding GST on it.
Invoice total is INR 30,143/-.
My question is this Invoice liable for tds deduction under section 94J.
if Net worth of a NBFC crosses 250 cr in FY 22-23 then first Ind AS balance sheet will be prepared for FY 22-23 or 1 year extension in available ??
If an asset ( Laptop ) of INR 30,000 is procured and put to use on 31st March 2019 and has been depreciated @ 63.16 % per year ( useful value of 3 Years ) and as on 31st March 2022 its value is INR 1,500 Can it still be depreciated in FY 22-23 ??
How to post journal entry of tution fees collection from individual student in tally keeping the outstanding of individual student
Suppose a student X have an outstanding tution fees on 1st April 50000/- and received an amount of 25000/- in FY22-23. Show the journal entry for tally please share your answer it's urgent
Can anyone help me out
Electrical Fittings Wiring at Workshop Should be capitalised under Plant & Machinary or Furniture Fixtures?
How to Make journal entry of Buy Back of shares.
How to make journal entry of Profit received by a partner from partnership firm in his books of accounts.
And also Dividend received from Pvt. Ltd. Company ( Not listed) How to make journal entry of his books of accounts.
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