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Entries Pass in tally
I received a cheque from Shaji of ₹ 500000.I deposited it in my Bank Account.That cheque is returned due to non sufficient fund.How pass these entries in tally.
Replies (3)
When you receive cheque :
cash account Dr
to debtor account
when you deposit cheque :
bank account Dr
to cash account
when cheque is dishonoured
debtor account Dr
to bank account
cash account Dr
to debtor account
when you deposit cheque :
bank account Dr
to cash account
when cheque is dishonoured
debtor account Dr
to bank account
First made entry at the time of receive of cheque
Bank account Dr.
To Debtors Account
Then after during the time of return of cheque is
Debtors Account Dr.
To Bank Account
Bank account Dr.
To Debtors Account
Then after during the time of return of cheque is
Debtors Account Dr.
To Bank Account
When you receive cheque
Bank A/c Dr
To Debtor Shaji A/c
--------
When it's bounced
Debtor Shaji A/c Dr
To Bank A/c
-------
For Bank charges
Bank charges Dr
To Bank A/c.
or
Debtor Shaji A/c Dr
to Bank A/c
(if recoverable from Debtor)
Bank A/c Dr
To Debtor Shaji A/c
--------
When it's bounced
Debtor Shaji A/c Dr
To Bank A/c
-------
For Bank charges
Bank charges Dr
To Bank A/c.
or
Debtor Shaji A/c Dr
to Bank A/c
(if recoverable from Debtor)
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