CASH ENTRY IN JOURNAL MODE

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rajeev khulbe (Querist)
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04 May 2010 SIR IF WE PURCHASE A BATTERIES FOR (5800)PERSONAL USE WITH 13.5% TAX.. IN CASH . THAN SIR WILL I SHOW THIS ENTRY IN PURCHASE MODE(F9). OR IN JOURNAL MODE (F7).AS PAR MY KNOWLEDGE THIS ENTRY SHOW IN JOURNAL MODE(F7)
FURNITURE & FIXTURE A/C DR.5800
TO CASH 5800
SIR IS THIS ENTRY IS CORRECT IF WRONG THAN SIR CLEAR MY DOUBT.
THANKS IN ADVANCE
REGARDS
RAJEEV(A/C)

Nischint Kumar Somani

Nischint Kumar Somani (Expert)
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04 May 2010 if you have purchased that for personal use, than it should be pass threw F7 mode, but entry should be,

DRAWAINGS ACCOUNT DR. (IN CASE OF SOLE CONCERN)
TO CASH
but in case of company above entry is ok,

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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04 May 2010 THROUGH JOURNAL ENTRY NOT POSSIBLE TO DEBIT OR CREDIT TO CASH/BANK A/C.

HENCE MAKE ENTRY IN PAYMENT MODE

DRAWAINGS ACCOUNT DR. (IN CASE OF SOLE CONCERN)
TO CASH

CA Shiv

CA Shiv (Expert)
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04 May 2010 yes i agree to both.. Moreover can you tell me which kind of battery is that.. Also 5800 is very small amount and if company has turnover of more than 15-20 lacs than its better to expense out and not capitalised...

other entry to expense out is:

Misc maintenance and repair exp. Dr.
TO Cash.....

CA Shiv

CA Shiv (Expert)
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04 May 2010

CA Shiv

CA Shiv (Expert)
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04 May 2010

CA Shiv

CA Shiv (Expert)
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04 May 2010

CA Shiv

CA Shiv (Expert)
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04 May 2010

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