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146 Points Posted on 03 July 2016
experts plz advice me. one of my client building owners association had done exp. of gas connection ra. 190000 and contribution made from amt. collected from members so how can be accounted and what is the entry of gas connection. so plz experts advice me
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On 03 July 2016 at 21:46 Report
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73 Points Posted on 03 July 2016
Sir if amount paid for gas connection is refundable at end or it is security amount then
u should book .

1 entry would be of payment of gas connection .I. e
security deposit a.c DR n cash/bank would b CR
2 entry wold b for collection of amt. I. e
cash / bank a.c DR. n party a.c CR.
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On 03 July 2016 at 23:31
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146 Points Posted on 04 July 2016

Sir what if gas connection amt is not refundable

And if member account is credited for amt. Recovered for gas connection into building and under which head i create ledger.

Plz advice me regarding above....

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On 04 July 2016 at 09:23


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