College fees excess amount

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This query is : Resolved

456srinivas (Querist)

29 January 2014 Hi Some students college fees paid by DD and they are paid excess amount . for example student fees 40000. student paid 60000. the remaining amount 20000, , that 20000 amount paid by college to students , what was the entry in tally

Nikhil Kaushik

Nikhil Kaushik (Expert)

29 January 2014 you just need to reverse the entry you passed at the time of receipt of fees...thats all.

456srinivas

456srinivas (Querist)

30 January 2014 hi sir i am passing entry like
4th year coll fees A/c dr
To Cash/ bank A/c and now we are issued cheque in the name of student and how to pass the entry ?

Student name A/c dr
To cash/bank A/c
is it right or wrong sir and its a payment entry right.

Nikhil Kaushik

Nikhil Kaushik (Expert)

30 January 2014 I believe the entry at the time of receipt of fees is:

Bank A/c/ Cash A/c Dr
To 4th year Coll Fees

you need to reverse the fees account.

So it should be:

4th year Coll Fees A/c Dr
To Student Name A/c

Student Name A/c
To Bank A/c

456srinivas

456srinivas (Querist)

30 January 2014 sir coll fees i ve to pass entry in RECEIPT only right sir

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