Payment through paytym

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Chandan Arora

Chandan Arora (Querist)

30 September 2016 What account we need to credit in case we make payments through paytym

Sandeep Dharar

Sandeep Dharar (Expert)

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)

30 September 2016 thanks a ton

Chandan Arora

Chandan Arora (Querist)

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)

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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