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CA Shriram Deshpande
This Query has 2 replies

This Query has 2 replies

Dear Experts
We are a pvt ltd Company and are Distributer/Channel Partners for industrial products. We have receievd a Purchase order asking to issue a single invoice for both supply of goods & supply of service. GST Rate for both supplY of goods & service is same i.e. 18% . I would like to know whether we can issue a single invoice for supply of goods & service and how to account for the same in the books ? Thanks in advance


krishna jethe
This Query has 6 replies

This Query has 6 replies

14 March 2024 at 16:00

Saving bank

Sir,
Purchase is made through Saving & Payment is done by UPI & total of debit side saving a/c-16 lacs
Now how can treat this transaction in account books of Proprietorship firm.
Thanks..


Hemant Dosi
This Query has 2 replies

This Query has 2 replies

We are running a hospital of eye now we are going to expansion our hospital into multispeciality pls tell me as we are doing expenses regarding construction of building and other medical equipments all expenses should be under building a/c capitalised or we have to do other process lets me inform


krishna jethe
This Query has 2 replies

This Query has 2 replies

28 February 2024 at 19:46

ABOUT SAVING ACCOUNT TRANSACTION IN GST

IN PROPRIETOR GST REGISTERD FIRM SOME BUSINESS MONEY RECEIVED IN SAVING ACCOUNT BY GOOGLE PAY
& TURN OVER GOES 16 LAC+.
NOW WHAT SHOULD I DISCLOSE IN ACCOUNTS BOOKS IN


vinodhini M
This Query has 1 replies

This Query has 1 replies

16 February 2024 at 11:28

Posting Entries

Sir,
In my case Mrs.M got a land as settlement from her father. Then later she gifted 1/3rd of it to her own brother and the remaining was gifted to her 2 sons in equal ratio. Is it correct to post below entries in the book of Mrs.M
Land 1 A/c___ Dr xxx
To Mrs.M's Capital A/c xxx
(Being land which is rec from her father)
Land 2 ___ Dr xxx
Land 3 ___ Dr xxx
Land 4 ___ Dr xxx
To Land 1 xxx
(Being land 1 has been divided into land 2, 3 and 4)
M's Capital A/c___Dr xxx
To Land 2 xxx
To Land 3 xxx
To Land 4 xxx
(Being gifting of land to brother and her 2 sons)
Is it correct to reflect in capital account for gift rec.?
If it is wrong, Kindly mention the entry for my reference.


Spark S
This Query has 1 replies

This Query has 1 replies

We have two designated partners in our LLP. we want to pay regular monthly remuneration to the partners (this is not profit sharing). How do I record this on journal entry? we are using Zoho books.

I tried to categorize the transaction on banking tab as money out->owner's drawing->drawing (journal entry is owners drawing dr and bank account cr) but it reduces the share capital (equity) in balance sheet. since the remuneration paid is more than the initial capital, currently share capital is showing in negative which I think is not correct.

Can someone please help me resolve the issue? the objective is to pay monthly remuneration to the working partner and deduct it under profit and loss as per section 40 (B).

Thank you





T.N.REDDY
This Query has 1 replies

This Query has 1 replies

11 February 2024 at 20:33

Reserves & Surplus- to bring to zero

Dear sir, In a private limited company, y-o-y basis, for the last 30 years, the above subejct ledger is getting accumulated, to nullify it, what are the accounting treatments avialble and the burdon of tax effect on such treatment, kindly enlighten.


uma sharma
This Query has 1 replies

This Query has 1 replies

09 February 2024 at 11:25

Payment by cheque entry

If i am paying to creditor by cheque , payment entry should be made at the time of issue of cheque or at the tym when payment is deducted in tally


Abbas Ali Bohra
This Query has 1 replies

This Query has 1 replies

Their is a company who has take over another without any settlement of accounts, Now we have stock of that another company of value 1.1 million rs and no other details we have. Now I have to shown those goods in my account books because we use in daily sales transaction. How can I enter stocks in my books of accounts because I have only stock details and no other details I have.
If I directly put stocks in opening then it will reflect the difference in Trial Balance and Balance Sheet.


Pooja Bhosale
This Query has 1 replies

This Query has 1 replies

07 February 2024 at 12:37

Fixed Assets or Office Expenses

TV, AC, oven, mobile, laptop, laptop stand, mobile stand for office will come under which head in tally? Fixed assets for office expenses. Please explain