hi guys..pls tell me the accounting entry if a customer paid the bill through credit card...thanx in advance
hi guys..pls tell me the accounting entry if a customer paid the bill through credit card...thanx in advance
Hey, Ur Credit Card machine ( Bank Name) Will b Debited
to Sales/Goods Account
1st made the entry in books... when payment made for card (say ICICI Credit CArd)...
ICICI Credit Card .....Dr
To Bank
then...
Expenses(for which card is used)......Dr
To ICICI Credit Card
and at last the balance of ICICI Credit Card should be NIL or Credit...it should not be debit..
First book the sale as..
Customer A/c .......Dr.
To Sales
and then receive the payment as
Credit Card A/c ......Dr.
To Customer A/c
By tht ur customer a/c get nullify and pay is booked on revenue side
Kindly help me how to enter the 10% Performance bank Guarantee ( PBG)on sale, simultaneously these PBG will be issued by the bank against keeping the margin money of 25% for the PBG , which will have the maturity value same as the expiry date of PBG.
Kindly guide for entries to be done in Tally erp.
Ravi Mishra.
if you are the customer and you paid through your credit card
Exp A/c Dr
To Credit card (Bank Name) A/c
and then
Credit card (Bank Name) A/c
To Credit Card (Bank Name) Payable A/c
And finally when you pay to your bank the credit card payment
Credit Card (Bank Name) Payable A/c
To Bank A/c
if your customer has paid you through credit card
Credit Card (Bank) A/c Dr.
To Sales A/c
and when you receive credit in your bank account then
Bank A/c Dr.
Discount Charged A/c Dr
To Credit Card Bank A/c
Purchase Entry
1st made the entry in books... when payment made for card (say ICICI Credit CArd)...
ICICI Credit Card .....Dr
To Bank
then...
Expenses(for which card is used)......Dr
To ICICI Credit Card
and at last the balance of ICICI Credit Card should be NIL or Credit...it should not be debit..
Sales Entry
First book the sale as..
Customer A/c .......Dr.
To Sales
and then receive the payment as
Credit Card A/c ......Dr.
To Customer A/c
By tht ur customer a/c get nullify and pay is booked on revenue side
I agree with prieya
1)Customer A/c Dr. . .
To Sales A/c
2)Credit Card Co. A/c Dr
To CustomerA/c
3)Bank A/c Dr. .
To Credit Card Co. A/c
HOW TO ACCOUNT CREDIT CARD ADVANCE. IF THE SALE IS EXPECTED IN FUTURE ?
credit card bill total amount 10000
previous amount 4000
paid amount 5000
(iski kya hogi journal entry plz fast awnser)
credit card bill total amount 10000
previous amount 4000
paid amount 5000
(iski kya hogi journal entry plz fast awnser)
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