Account Entry

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JOB
488 Points Joined July 2009

Dear all,

We are in newly opened Hotel business i have 2 doubts.......

1)Ex.  In 1000 rupess  sales, cash sales 800 and 200 credit card/Debit card sales(Swiping machine). What is the entry for Credit card sale?????    and that credit card sale is directly credited to our bank a/c................What is the entry?????

2) Ex. Cutomer bill is Rs.905 and Rs. 45 tips and they paid total Rs.950 through Credit card........then what is the entry for tips?????

and also this tips amt we need return back to the server.....................What si the entry?????

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On 29 April 2010 at 15:25 Report
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Job
174 Points Joined March 2010

1) For cash sales

Cash A/c.    

To Sales A/c.

For Credit Card Sales


Bank A/c.

To Sales A/c.

2) For the amount of Tip you can creat a dummay a/c as Tip A/c.

Credit the tip when received from client and debit the same when paid to servant.

It has to be nil on the close of the transaction.

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On 29 April 2010 at 17:18
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JOB
488 Points Joined July 2009

Pls tell me under which group TIps A/c and aslo credit card sales

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On 29 April 2010 at 17:59
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CA FINAL+LLB + DISA
2299 Points Joined March 2010

Dear Vijaya

Tips A/c whould be opened in direct income group or an Indirect income group as per your wish. there is no such  issued regarding this.

 

as far as credit card sales A/c is this sholud be on sales group.

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On 30 April 2010 at 18:24


CCI Pro

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