Dibyendu Majumder

One developer company pays staff salaries without deducting the EPF contribution from employees. The company pays both employer & employee contributions from their bank account & shows employees' contributions which are actually paid by the employer as staff welfare in books of accounts. If this method is correct? please clarify urgently.

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Daya
23 December 2023 at 13:06

Negative figure in Financial statement

where may come nigative figure in Profit and loss account and balance sheet.

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Vijay Kumar
18 December 2023 at 19:27

Freight charges in Sales Invoice

Dear Team,

Good day to All,

Could anyone please advise how to account freight charges shown in the Sales Invoice generated by my firm.

Example: Sale of FG 100
freight 05
Total 105

Can I consider Total sales value as 105 or should I take 5 (freight charges) into COGS.

Please advise and do the needful.

Thanks and regards,
V B Vijay Kumar

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ramya
05 December 2023 at 14:36

VEHICLE DUE & INTEREST REG-

School van was purchased through finance, how to entry the due amount with interest in tally.? for ex: Due amount was Rs.20000 & interest was Rs.10000. In tally single entry system, i made entries in payment voucher like, accounts - bank a/cs (credit ); ledger- finance due (debit )-20000 ; interest (debit)-10000; in total 30000/-. is that right.?

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Daya
03 December 2023 at 12:20

Whole time Director remuneration

whether whole time director remuneration come under salary and wages under scheduled III of profit and loss account.

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ramya
28 November 2023 at 14:47

School accounts

in school accounts, school competition expenses comes under which expenses head in tally direct or indirect

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Daya
29 October 2023 at 13:51

Is overtime part of salary and wages

is overtime part of salary and wages.
Is bonus grouped under salaey.

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Daya
29 October 2023 at 13:40

GST Input Registger

can I make GST Input register monthly in this way

Sales 1000
Add Debit Note 100
Add GST Payable RCM 200
Sub Total 1300
Less Credit Note 50
Sub Total 1250
Less GST Input 500
GST Input RCM 200 700
Net payable by Cash 700
Is correct process


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Daya

Insurance exp. paid regarding insurance of car ,
my question is that insurance exp. should be added to cost of car and charge depreciation and second time onwards insurance exp.
should be divided between two Financial years and charges to P/L account when expenses related to 2 Financial years.

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Daya

1.Material which are used for manufacturing the products are Raw Material.
2.Finished goods which are incomplete i.e., partial work done and further work is required to convert the same into FG are WIP.
3.Goods which are ready to remove from factory are Finished Goods.
these are parts of inventories, but how to know how many are WIP and Finished Goods


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