We are a car dealer maintaining the accounts in Tally ERP 9.We collect insurance premium and road tax from customer while invoicing for new car sale. We pass the following journal entries :
- Mr A Dr 30000
Insurance Premium Cr 20000
Registration Charge Cr 10000
2. Insurance Premium Dr 20000
To Bank Cr 20000
3. Registration Charge Dr 10000
To Cash Cr 10000
Customer account is grouped under Debtors while Insurance premium and registration is grouped under current liabilities. I want to know if for each customer the insurance and registration charge that is yet to be paid can be known.
CAclubindia
