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Transaction entry

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(Querist)
03 April 2014 Inter company transaction entry

company A recived 50,000 from company b.

company b comes under which account -current liability ?


company A comes under which account - in the books of b ?
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(Querist)
03 April 2014 my client had registered madrasa under wakf board. now he wants to get 80g registration. what is the procedure to get 80g registration.
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Rupesh Jain

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Rupesh Jain (Expert)
03 April 2014 firstly see why A company receive money from B.

if take as loan
then in A show as unsecured loan
in B loan & advances

if for purchases of material then
in A received from, custoemrs
in B advance to supplier for goods.
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