If i made a GST invoice and my client never made the payment. I want to cancel that invoice, to avoid paying GST for items in the invoice. How can i cancel the invoice the right way ?

Can I simply delete the invoice?

Useful Life in books

Hi,
I have a doubt in my tally prime balance sheet, my tally prime was not showing fixed assets, how can i rectify this problem help me sir. this is start up company and am also new candidate no practical experience.

Dear All,

Incentives given to employee in cash or in kind should be included in which Account head, should it be included in salary of employee or should it be included in separate head i.e., Incentives to employees.

Thanking you

To
The experts
Can any one clarify what is actual purpose of Debit Note & Credit Note?

Regard
Abhijit

what is standard procedure( Formula) to calculate Interest on Loan Given /Received P.A.

Dear Sir,
I want to know weather works contract receipt comes under sales a/c or direct income A/c?

Because, in VAT bill there was a bifurcation of labor bill and the material bill. And we considered material bills under sales and labor bill under direct Income.

But in GST there is no such bifurcation. now how should we consider the contract Receipt?

Thanks in advance
Sowmya Santhosh

shareholder can be related party,only if he has hold shares.

we had booked salary in previous years but due to COVID did not pay in full. later on, when the management decided to pay back the deductions, the employees were not traceable as they were mostly labor class. now, can the company write-off the expense in the current year or there would be some legalities involved in it

Discount Received against FIXED Assets
Discount Given against Fixed Assets
How to book in Books of Accounts
and
Discount Given and Discount Received against Revenue income and expenses how to books in books of Accounts.