Commission receivable
This query is : Resolved
10 May 2013
Dear Sir,
Please advise to us how I maintain journal entry of Commission Received & Commission Receivable A/c in Tally ERP9.
Please advise to us how I maintain journal entry of Commission Received & Commission Receivable A/c in Tally ERP9.
10 May 2013
1. Open 2 ledger accounts in Tally. Commission under Direct/Indirect Income and Commission Receivable under Current Assets.
2. When the commission becomes due, entry shall be as under:
Commission Receivable A/c Dr
To Party A/c
On receipt of commission, entry will be:
Bank A/c Dr
To Commission Receivable A/c
To TDS Receivable A/c
2. When the commission becomes due, entry shall be as under:
Commission Receivable A/c Dr
To Party A/c
On receipt of commission, entry will be:
Bank A/c Dr
To Commission Receivable A/c
To TDS Receivable A/c
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