Nishant Tyagi (1 Points)
23 April 2019Dear AIl,
Please assure me entry is correct to booking the expense on provision basis with TDS booking as on 31st March 2019.
Entry Booked On 31/3/2019
Expense Account Dr. 100000
Vendor Account Dr. 10000
To Expense Payable Account Cr. 100000
To TDS Payable (194J)Account Cr. 10000
Srinivas Ch
(Sr.Accountant)
(367 Points)
Replied 23 April 2019
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 23 April 2019
The entry will be:
Expense A/c Dr. 110
To Expense Payable A/c Cr. 100
To TDS Payable A/c Cr. 10
Srinivas Ch
(Sr.Accountant)
(367 Points)
Replied 23 April 2019
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 23 April 2019
I assumed total exp. as Rs. 110 and TDS only Rs.10
If the total exp. is Rs. 100 then :
Expense A/c Dr. 100
To Expense Payable A/c Cr. 100
Expense Payable A/c Dr. 100
To Vendor A/c 100
Vendor A/c Dr. 10
To TDS Payable A/c 10
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 23 April 2019
If you dont want to tfr the amount to Vendors A/c and keep as Provision then:
Expense A/c Dr. 100
To Expense Payable A/c Cr. 90
To TDS Payable A/c Cr. 10
CAclubindia
