Tratment of expense telephone or water
This query is : Resolved
23 June 2017
MY DJB BILL 5000/-, At the time of expense booking i booked below entry. Please tell me is it ok or not and how to treat with DJB A/C
Please reply fast
water expenses --dr
water expenses payable --cr
Please reply fast
water expenses --dr
water expenses payable --cr
23 June 2017
what is the long form of DJB?
23 June 2017
Assuming DJB to be electricity and water supplier
When bill is received
Debit water chares
Debit Electricity charges
Credit DJB
at the time of payment
Debit DJB
Credit Cash/Bank as the case may be
When bill is received
Debit water chares
Debit Electricity charges
Credit DJB
at the time of payment
Debit DJB
Credit Cash/Bank as the case may be
23 June 2017
what abount payable entries like
telephone exp--dr
telephone exp. payable --cr
my confusion is that at the time of credit what a/c to be selected payable or a/c name(DJB)
telephone exp--dr
telephone exp. payable --cr
my confusion is that at the time of credit what a/c to be selected payable or a/c name(DJB)
23 June 2017
payable entry comes only at the time of year end.......
23 June 2017
see, try to understand.....
EITHER credit payable account OR credit suppliers account(like DJB in your case)
both at a time is not possible.
EITHER credit payable account OR credit suppliers account(like DJB in your case)
both at a time is not possible.
23 June 2017
ok If i credit DJB or payalbe(any one of them) my entry is not wrong
23 June 2017
yes. But follow the same practice......dont change the practice every month or so.....
23 June 2017
you are most welcome.
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