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Cash purchase by partner

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 November 2011 Dear Friends, First of all I would like thank & appreciate you for the initiative of helping accounting enthusiasts learn more through your portal.

My Question:-

Background: - A partner (partnership firm) made a purchase of goods (for sale) from a vendor and made the payment through his personal bank account. These goods were sold by the company through the proper channel and the company has received the payment.

Query: - How should we treat this in tally?

Your guidance is deeply appreciated.

Regards,
Manoj
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
02 November 2011 Purchase A/c Dr.
To Mr (Partner's Name) A/c
(Being goods purchased by partner on behalf of the firm)

Bank A/c Dr.
To Sales

Mr. (Partner's Name) A/c Dr.
To Bank
(Being payment made for purchase)
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