Accounting entry

Page no : 2

mahendra jangid (Dy. General Manager (Finance)) (444 Points)
Replied 17 December 2013

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....

Neha Mishra (@student) (234 Points)
Replied 17 December 2013

Thanks to all

Raajesh ( Accountant) (70 Points)
Replied 17 December 2013

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

Raajesh ( Accountant) (70 Points)
Replied 17 December 2013

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

Piyush Bhardwaj (MBA) (22 Points)
Replied 17 December 2013

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.............

Darpan aggarwal (Article assitiant) (141 Points)
Replied 17 December 2013

	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 ?