Aditya Sharma (finance advisory) 24 October 2018
rent and salary becomes due on 1 day of the month.
but paid on 20 th of the month along with TDS DEDUCTION.
Please tell accounting entry for 1) becomes due 2.) paid. BOTH ALONG WITH TDS PROVISION.
satish (teaching) 24 October 2018
for suppose total exp is 100. out of that TDS is 10% i.e 10/-.and balace is payable to party. following entry is to be passed on last day of the month.
Expenditure A/c Dr. 100
To TDS on exp. 10
To payable 90
Rama chary Rachakonda (Master in Accounts & Lawyer email ID:firstname.lastname@example.org voice no:9989324294) 29 October 2018
Mr.Satish answer is absolutely right.