Go AD-Free with CAclubindia PRO for Rs 167/Month Only. Subscribe Now!

How to show payment

187 views 10 replies

simran Waghmare

3 Points Joined January 2024

Suppose B is the buyer and A is the seller. B again sells it to C. But C makes payment to A instead of B. How to adjust is in the accounts of B

Replies (10)

sabyasachi mukherjee

27928 Points Joined May 2017

Which payment???

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

For adjustment purpose You can provide JV as below;

Purchase from A
Dr. Purchase a/c - XXXX
Cr. A a/c - XXXX

Sales to C
Dr . C a/c - XXXX
Cr. Sales a/c - XXXX

Journal Voucher for adjustment
Dr. A a/c - XXXX
Cr. C a/c - XXXX

Note:
For adjustment purpose these JV is possible...

But, As per accounting it's not advisable..

sabyasachi mukherjee

27928 Points Joined May 2017

Sundry creditors
expense head dr.
name of the party cr.

bank credit.

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

😇😇😇😇😇😇😇😇😇

Then Why You ask "Which payment???"...???
@ My Dear Great Mr Sabyasachi Mukherjee...

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

CA Rashmi Gandhi

Chartered Accountant

86500 Points Joined April 2011

Pass journal entry as said by Raja PM.

sabyasachi mukherjee

27928 Points Joined May 2017

Wrong jv
put the narration.

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

You are Always Wrong...
&
You are Totally Wrong...

sabyasachi mukherjee

27928 Points Joined May 2017

Becoz you can read the heading lol

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

Hey Muttaal,

Now You put Your extraordinary replies in old queries also .

only for points.
being top of the leader board...

There is also a member in top...

So, You can't reach there...

Stupid