Ra bills entry
Querist : Anonymous
1.can u please tell me the entry for R.A.BILL in books of a/c.?
2.and tds applicability on that
thanks in adv
When you raise the RA bill then you debit the contractee and credit 1st or 2nd or 3rd RA bill and when you receive the payment you debit bank and credit the contractee. The balance standing to the RA bill will represent income and at the end of the year you have to transfer the RA bill amount to contract account on the percentage of work completed basis or if general accounting is followed then the entire amount of RA bill is to be booked as gross receipt and value the closing stock.
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Copyright software
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
