Tally enteries

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Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2011 what entry in tally whic mode
owner introduced rs. 175000 in obc bank and 250000 in sbi bank

CA Sreenivasa Rao Munaga

CA Sreenivasa Rao Munaga (Expert)
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13 December 2011 You need to open two banks accounts and one capital account with the proprietor name.

Thanks,
CA M Sreenivasa Rao.

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2011 when i made entry
obc bank a/c.....dr.
sbi bank a/c.....dr.
to capital a/c

tally shows error: no entry was made in cr. of cash or bank

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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13 December 2011 above entry is correct

and make this entry in receipt mode of tally

CA Sreenivasa Rao Munaga

CA Sreenivasa Rao Munaga (Expert)
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14 December 2011 I agree with Vishal Rana. The same way we need to pass these entries

Thanks,
CA M Sreenivasa Rao.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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14 December 2011 why not it is contra entry?

Guest

Guest (Expert)

14 December 2011 It can be treated as a Contra entry as Cash is deposited in the bank

S.Siju Gemin

S.Siju Gemin (Expert)
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14 December 2011 Better to pass two different receipt entries:-

OBC Bank Dr. Rs.175000
Capital A/c Cr. Rs.175000

SBI Bank Dr. Rs.250000
Capital A/c Cr. Rs.250000

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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15 December 2011 You have to pass this entry in journal entry only in tally because there is no receipt/payment of cash or cheque/dd just you introducing the bank accounts in the books before going to pass entry you change the accounting options use bank account in journal entries put it as YES then you can pass the entry in tally but the entry is correct. if you not get clarity please call me to 8500541092 i will explain you.
OM SAI SRI SAI JAI JAI SAI

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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15 December 2011 i am agree with Dintakurthi
There is no payment or receipt,This is Journal entry

Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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15 December 2011 It not a contra entry contra entry accepts only for cash and bank or bank and bank group accounts here capital account neither cash or bank group account
OM SAI SRI SAI JAI JAI SAI

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