The accounting entry can be paased by direct debit to expenditure and credit to bank. This method is adopted when you want limited entries in the books and limited transactions. Alternatively, you can book the bill and Dr. expense and credit the party. On payment of the bill, Dr. the party and credit the bank. This method shall be used when you have volumenous transactions and larger payments. Both options are correct and can be enetred in Tally....
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Accounting entry
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The accounting entry can be paased by direct debit to expenditure and credit to bank. This method is adopted when you want limited entries in the books and limited transactions. Alternatively, you can book the bill and Dr. expense and credit the party. On payment of the bill, Dr. the party and credit the bank. This method shall be used when you have volumenous transactions and larger payments. Both options are correct and can be enetred in Tally....
Thanks to all
If accounting is done on Cash Basis, the entry would be:
Telephone Expand..Dr
To Bank
And if accounting is done on Acrual Basis
Telephone Exps..Dry
To BSNL
Then,
BSNl .... Dr
To Bank
If accounting is done on Cash Basis, the entry would be:
Telephone Expand..Dr
To Bank
And if accounting is done on Acrual Basis
Telephone Exps..Dry
To BSNL
Then,
BSNl .... Dr
To Bank
We are paid full and final payment of standard chartered home loan of personal account before tenure complete. And every month i was posted entry every month is
Standard chartered home loan A/c.......Dr 2781.24
Housing Loan interest A/c............Dr 21535.76
To Bank A/c....24317.00
Please suggested to final entry.............
| Dear All, | ||
| can anybody explain these 2 entry:- | ||
| 1 | Seller | |
| Party (Purchaser) Dr. | 959829 | |
| Freight Dr. | 9610 | |
| To Sales | 918900 | |
| To Vat | 50539 | |
| In this entry who bears the freight purchaser or seller? | ||
| 2(a) | Party (Purchaser) Dr. | 969439 |
| To Sales | 918900 | |
| To Vat | 50539 | |
| 2(b) | Freight Dr. | 9610 |
| To Exp. Payable | 9610 | |
| 2(c) | Exp. Payable | 9610 |
| To Party | 9610 | |
| In this entry who bears the freight purchaser or seller? | ||
| AND | ||
| WHAT IS THE DIFFERENCE BETWEEN IN 2 ENTRIES ? | ||
In both case the seller is bear the freight amount.
in 1st case the freight amount paid on the spot.
in 2nd case the freight amount is paid on another time.. so that it tranfer to provisional account......
Telephone Expenses Dr 5000
To Bank 5000
Create Sub Group under the head Tel Exp as BSNL.
Hence pass the entry as BSNL a/c dr...
Bank a/c cr...
NO J.V. IS REQUIRED...
OK
Telephone to bank with proper narration.
U must create jv for BSNL exp. Analysis and if we paid in excess of 5000 or more we specify related indirect exp. In profit and loss a/c.
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