Payment through paytym
This query is : Resolved
30 September 2016
What account we need to credit in case we make payments through paytym
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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30 September 2016
thanks a ton
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
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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