College fees excess amount

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456srinivas (Querist)
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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)
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29 January 2014 you just need to reverse the entry you passed at the time of receipt of fees...thats all.

456srinivas

456srinivas (Querist)
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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)
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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)
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30 January 2014 sir coll fees i ve to pass entry in RECEIPT only right sir

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