12 July 2016
I received a bill of manpower provider ( providing staff for office work). They raise a bill of rs 100000 ( bill raised by pvt Co.),Then journal entries will be as follows Manpower Expenses 100000 Dr To Tds Payable Sec 194 C 2000 To ABC Co. 98000 On Payment ABC Co. 980000 Tds Payable Sec 194 C 2000 To Bank 100000
My Question is that above entries are correct or not.We are maintaining manpower supplier account in proper way or not.In future can our ledger can be tallied with their.
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