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malarvannan (accounts executive)     08 November 2011

Advance payment entry..

Dear Friends

For example. If i give advance payment to supplier(s1) for particular job.

As per my knowledge i update the payment entry in tally -5 lacs. But it will not reflected in accounts receivable in tally

Please clarify.

Very urgent

 

---yours 

malar.D



 2 Replies

Deepak Gupta

Deepak Gupta (CA Student)     08 November 2011

Originally posted by : malarvannan

Dear Friends
For example. If i give advance payment to supplier(s1) for particular job.
As per my knowledge i update the payment entry in tally -5 lacs. But it will not reflected in accounts receivable in tally
Please clarify.
Very urgent
---yours 
malar.D

To reflect the transaction in accounts receivable.

> Maintain balance bill by bill during ledger creation.

> Select "Advance" under "Method of Adj." for advance payment entry.

> To settle bills/payments against advances, select "Agst Ref" and tag the advance entry.

> Correct net balance (receivable/payable) will be reflected.

Madasamy

Madasamy (Executive - Accounts (IT))     06 April 2012

Agreed with Deepa K gupta

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