Job costing with cost centre

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Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2014 i using tally for book keeping....my query is
if i given 10000 rs to mr.salman for mumbai site....i made the entry for this is
dr.advance against expenses and cost centrebin mumbai project-10000
cr.cash ac-10000.
is this right?

Amol S Joglekar

Amol S Joglekar (Expert)

24 November 2014 Yes. It is right. Make the name Advance to Salman for expenses, so that in due course of time you can remember it just by looking at the name of the account that advance has been given to Salman which he needs to clear.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

24 November 2014 alternatively u can also mention the same in the narration box

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2014 but if i make all the payment to salman in payroll voucher says wage and advances etc, i want to give separate effects of amount rs 10000 in the salman's account

Amol S Joglekar

Amol S Joglekar (Expert)

25 November 2014 That is why it is suggested to open an account in tally, names and styled as said above." Advance given to Salman for expenses". Group it under current assets

Rupesh Jain

Rupesh Jain (Expert)

25 November 2014 you can maintain the Imprest a/c Salman

you can debit a/c account when make payment and credit when you received the invoice of exp.

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2014 thankss to solve it

Amol S Joglekar

Amol S Joglekar (Expert)

25 November 2014 you are most welcome.
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