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.
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
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.
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.
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