cash payment made to an employee of rs 24000 i e more than 20000 against imprest for expenses.
whether it is disallowed or not

Sirs,

Ours is a manufacturing concern we are paying some travelling expenses like train/bus charges and accommodation for outsiders who are came for technical services for our plants can i debit these expenditure under travelling expenses others if we did so any taxes will attract on the same

Could you please explain the journal entries and the effect in R&P Account

1. FD Balance as on 01.04.2013 is Rs. 41,09,947.00 (This includes FD principle Amnt 40,00,000 and Int acrued 109947)

2. During the year FD is closed and recieved interest of 179442.00, what is the journal entry?

3. How this will effect in the Receipts and Payments Account?

Pls adv, if we make telephone payments for a lumpsum amount for subsequent months in advance, which entries should be passed. Pls explain the ledger name to be debited under which main tally head. Also, how will the entries be written off in the subsequent months. Pls explain dr and cr with example.

Thnx and regards
Gurvinder Singh

(1) When Invoice is raised in USD, the entry will be:

USD @ 60
USD INR
Dr. Debtor 1,000 60,000
Cr. Sales 1,000 60,000

(2) On receipt of the amount, the entry will be: USD @ 62

USD INR
Dr. Bank 1,000 62,000
Cr. Debtors 1,000 60,000
Cr. Forex Gain (Realised) - 2,000


Is it correct to recognize the Gain as realised Gain?

Sir,

TDS paid for the year is 10 lacks, but the 5 lacks of the above was not reflected in the 26AS, ITO Disallowed the same. In the above 5 L, 3 L worth details are found out,rest permanently lost...What is the accounting treatment of the above?

can we opening balances in expenses payable ledger...

hi i am currently working on accounts profile with experience of erp oracle, i completed my mba and i hav one year of experience so is there is need of any cirtification courses which will help me in my future career growth.

Dear Sir

I have an FD of Rs.6,97,620/-.
Rate of Interest is 8.75%.
Period : 21.12.13 to 21.12.14.

Bank provide me a interest certificate mentioning as follows :

Interest Amount : 15051/-
TDS Amount : 1692.60/-
Accrued Interest : 1875/-

Please advice me the Journal Entries need to charged in my books of Accounts.

we are a company receiving advances from same customer against different purchase orders if we supplying machinery to one of the purchase order we need to collect full payment without considering advance for anthoer purchase order in this circumstances how we can create or account ledger in tally, please give me answer anyone