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Accounting Entries for Money Transfer Business

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24 Points Posted on 07 March 2019
Dear Expert Team,
please Solve one query!!

Kindly suggest the accounting entries for Money Transfer Business inTally also purchase and sales voucher is to be used for Top up done and transfer through PayPal,Paytm etc application or portal????


please revert soon
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On 07 March 2019 at 20:15 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 07 March 2019
You can maintain "PayPal & PayTM" accounts as Bank Account...

Money Transfer amount can be Credit A & Debit B. Commission amount will Your business incomes...
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On 07 March 2019 at 21:38
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24 Points Posted on 08 March 2019
How to pass purchase &sale entry.
what is be included in turnover ??
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On 08 March 2019 at 06:34
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"Do the Right Thing...!!!"
128152 Points Posted on 08 March 2019
Purchase & Sales means what

Are you dealing only money transfer or any other trading business...?

Elaborate Your query with details
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On 08 March 2019 at 08:54
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24 Points Posted on 08 March 2019
My query is ,

how to maintain accounts in tally under which voucher & group??

1,00,000 paytm wallet
now we transfer as requested by customer to other account say;5,000 ,20,000 & so on .

Now how to enter this entry in Tally ????

Other trading also we hv but it done normally
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On 08 March 2019 at 08:59


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