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Busy entry

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Dear Sir,

Proprietor transfer some amount from current account to demat account for purchase of share please suggest entry in books.
Replies (7)

Demat/investment a/c 

To Bank a/c

 

Sir, in which group I create the ledger demat account

Either in deposit account or current asset group. Use current assets if you do short term transactions 

Thank you Sir,

Your welcome. 

You know? don’t believe every manager is real. The only advantage with professionals is they know tax impact on deferred taxes. Otherwise what ever way we treat will balance the balance sheet. Example, this can be long term asset as well in tally and increase the fairvalue and recognise it like 

Demant long term asset a/c

To revaluation gain a/c

if you recognise it as deposit account

 

Bank a/c

To Investment Income a/c

this is because you received income from trading, put it into bank. 

Then if required for AS standard FVTPL investment purpose

Deposit a/c

To Revaluation account

like this it depends upon what kind of investments you have and what is the type of income you get. 

So, if you make a deposit entry first 

Deposit a/c

To Bank a/c

and if your boss says how dare you put it there when it is current assets. Then do this

Current assets a/c 

To Deposit a/c

and tell him keep quiet

in the software just change the group to current assets. 

Forgot to mention, I don't know AS proficiently like others. So revaluation account can be finance income as well. 


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