Entry in tally - Owners Capital & Profit
This query is : Resolved
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18 July 2022
Dear Respected members,
At the moment we paid the owner his portion of the capital amount through cheque and also paid a portion of the company profit through cheque.
Could you please tell us the entry in the tally prime as I am not able to find the ledger of the P& L account?
At the moment we paid the owner his portion of the capital amount through cheque and also paid a portion of the company profit through cheque.
Could you please tell us the entry in the tally prime as I am not able to find the ledger of the P& L account?
18 July 2022
The ledger is of balance sheet.
See capital account and accumulated profit.
See capital account and accumulated profit.
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04 September 2022
Our company just started in the financial year 2021, and this year we paid a portion of the profit to the owner.
could you please tell me the journal entry in the tally? which ledger is to be credited?
weather I need to transfer all profit to retained earnings first?
could you please tell me the journal entry in the tally? which ledger is to be credited?
weather I need to transfer all profit to retained earnings first?
04 September 2022
No, only transfer retained earnings after payment of profit to the owner.
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05 September 2022
Dear Sir,
Could you please tell me the tally entry for payment of profit to the owner
Could you please tell me the tally entry for payment of profit to the owner
05 September 2022
Profit and loss account Dr
To bank account Cr.
To bank account Cr.
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