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recognotion of tansaction

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19 June 2010 My query is that, If we discount the post dated cheque with financer for geting cash immediatly then how we record this transaction in the books of account.

My 2nd is that, in which ledger Bank cash credit is shown in tally accounting program if we have deposit,withdraw and payment made by bank Cash credit account and under which catagory this transaction will be record in Tally Accounting package

Please Reply me fast
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 June 2010 Discount charges you can recoganise immediatly incase any Interest you are paying you can debit the prepaid interest and charged to p&l monthly as per interest applicable

Bank CC acoount need to grouped Bank OCC a/c
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