Cutom duty
This query is : Resolved
28 November 2012
Dear Sir,
1.i was import machinery from other country,i was paid 30% advance,balance 70% after received B\L copy,how to pass the entry.
2.How to pass the custom duty charges entry in tally.
3.lot of charges they are showing clearing person Ex:- co,DO charges,these are all the charges, how to pass the entry in tally,
Can u plz give me your valuable answer
Thanks & regards
D.Madhan
1.i was import machinery from other country,i was paid 30% advance,balance 70% after received B\L copy,how to pass the entry.
2.How to pass the custom duty charges entry in tally.
3.lot of charges they are showing clearing person Ex:- co,DO charges,these are all the charges, how to pass the entry in tally,
Can u plz give me your valuable answer
Thanks & regards
D.Madhan
29 November 2012
In case of Advances, payment (to the party) is made after deducting the applicable TDS.
Example: ABC Company made an advance payment of Rs.10,000 to Pheonix Agencies towards Advertisement Expenses, which will be adjusted against the bill of Rs.20000. TDS is deducted while making the payment.
Step 1: Create Bank Ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Create
Enter Canara Bank as the Ledger Name
Group it under Bank Accounts group
Under Mailing Details
In Address field enter the Bank Branch Address.
Select Karnataka in State field
Enter the PIN code
In A/c No. field enter the Account Number as 00758978
In Branch Name field, enter M.G.Road.
Enter the Bank’s BSR Code as 0240130. BSR Code is a 7 digit Number allotted by Reserve Bank of India (RBI) to Bank Branch.
Enter Rs. 50,00,000 in Opening Balance field
for more info:
https://www.tallysolutions.com/website/CHM/TallyERP9/Tax_Deducted_at_Source/Accounting_Advance_Payments.htm
Example: ABC Company made an advance payment of Rs.10,000 to Pheonix Agencies towards Advertisement Expenses, which will be adjusted against the bill of Rs.20000. TDS is deducted while making the payment.
Step 1: Create Bank Ledger
Go to Gateway of Tally > Accounts Info. > Ledgers > Create
Enter Canara Bank as the Ledger Name
Group it under Bank Accounts group
Under Mailing Details
In Address field enter the Bank Branch Address.
Select Karnataka in State field
Enter the PIN code
In A/c No. field enter the Account Number as 00758978
In Branch Name field, enter M.G.Road.
Enter the Bank’s BSR Code as 0240130. BSR Code is a 7 digit Number allotted by Reserve Bank of India (RBI) to Bank Branch.
Enter Rs. 50,00,000 in Opening Balance field
for more info:
https://www.tallysolutions.com/website/CHM/TallyERP9/Tax_Deducted_at_Source/Accounting_Advance_Payments.htm
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