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How to enter in tally

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RAJA

Student

23 Points Posted on 15 May 2014

We Received from a Debit Note of Discount from Supplier on Date of 31-03-2014 an amount Rs.72000/-

This Supplier Given cheque on 09-05-2014. We want to show the income in 2013-14 FY. How can We enter in Tally under which group . IF We enter Supplier A/c Dr.

To Discount Received A/c in 2013-14 Fy

This Year Bank A/c Dr.

Credit which Account.

Replies (3)

CA PRIYUL SHAH

JOB

721 Points Posted on 19 May 2014

In 2013-2014

Supplier A/c Dr. 72000

To Discount Received 72000

In 2014-2015

Bank A/c Dr. 72000

To Supplier A/c 72000

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 27 May 2014

Discount received is an income item. so it must be credited in the previous year. Debit the supplier for debit note. Cheque received comes under real accounts. Follow real account rules, that is Debit the bank account and credit the giver (supplier a/c). Mr.Priyul shah suggestion is correct.

praveen kumar devarapalli

Managing Director

165 Points Posted on 13 June 2014

DEbit has to be raised from us, If the supplier has a debot note means he made charges to you. Please check whether he is given debit note or credit note.