Abhijit Raut (B.Com) (57 Points)
27 March 2014Dear All,
I am working in magzine publishing company. We used to hire clothes from various brand for the shoot purpose. 1 jacket has been lost from our end while shooting and for that we have also made payment.
Can someone please guide me how do I pass accouting entry in tally for said transaction.
Your quick assistance will be highly appreciated.
Thanks
CA SANKET GARG
(Sanket Garg & Company )
(838 Points)
Replied 15 April 2014
Hi,
Debit the whole amount paid to Shooting Expenses Account (If Created). As per your query it seems that you dr. all expenses in Cloths Hire Charges Account. So don't debit this account instead create shooting expenses account and give descripttion in narration. If you mark expenses & income of a particular shoot individually then debit it in that particular expense also.
Abhijit Raut
(B.Com)
(57 Points)
Replied 16 April 2014
| Originally posted by : CA SANKET GARG | ||
 |
Hi, Debit the whole amount paid to Shooting Expenses Account (If Created). As per your query it seems that you dr. all expenses in Cloths Hire Charges Account. So don't debit this account instead create shooting expenses account and give descriptttion in narration. If you mark expenses & income of a particular shoot individually then debit it in that particular expense also. |
 |
Thanks for your reply.
We don't maintain any seperate Shooting expenses account. This is indirect expense we occured during the shoot. Can I debit miscellenous expense account to pass this entry.
Your quick response on this much apprecated.
CA Umesh kumar Mantri
(Business and Practice)
(132 Points)
Replied 16 April 2014
Yaha u can . and mentioned in Narration the reason why u debited such account.
CA SANKET GARG
(Sanket Garg & Company )
(838 Points)
Replied 21 April 2014
If the amount is trival means not very high then you can debit Miscellenious Exp. Account otherwise it is advisable that yu create Shooting Expense Account.
CAclubindia
