Insurance collected entry in tally erp 9

Pranjal (Student CA IPC / IPCC) (531 Points)

30 April 2015  

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 :

  1. 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.