Payment through paytym

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Chandan Arora

Chandan Arora (Querist)
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30 September 2016 What account we need to credit in case we make payments through paytym

Sandeep Dharar

Sandeep Dharar (Expert)
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30 September 2016 If its ur usual habit to pay through paytm, then better to open a Ledger named as Paytm in current assets(Bank), and treat it as a Bank A/c, when u add money to Paytm then make a contra entry as inter bank transfer. Paytm Dr. To Bank. Otherwise no need to create a ledger, just post a entry as cash payment.

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Chandan Arora

Chandan Arora (Querist)
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30 September 2016 thanks a ton

Chandan Arora

Chandan Arora (Querist)
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30 September 2016 i think entry should be paytym to bank/cash when we add money to paytym its just like we deposit money in bank

Sandeep Dharar

Sandeep Dharar (Expert)
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01 October 2016 U r welcome dear. Yes u r right. But it must b bank or credit card only, coz u can't add liquid cash to Paytm as far as I know(so no cash should b credited).If u like my reply then show ur appreciation by hitting the thanks button.

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