Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Journal entry

559 views

Save Share

Join Us Follow Us Add as Source

Has123

student

24 Points Posted on 25 October 2011

Thanks for Reply,

I have one more doubt. when creating the company which type of accounts will select

>Accounts with Inventory

>Accounts only

1. A company give march salary at may month only. But we do not know the Exact salary for march at the ending of march month........How to treat In tally.whether it treat as memorandum voucher

Pls reply me

Replies (2)

CA CS Pushkar Agarwal

Service

110 Points Posted on 26 October 2011

select accounts with inventory if the company concerned is not service sector.

Shaan Bhasin

Working Professional

76 Points Posted on 26 October 2011

Accounts with Inventory is selected only when you are also going to maintain the stock physically or dealing with stock whether raw material, or Finished goods etc.

You can pass a provisional entry on the estimate basis for the march month's salary in the march month for following the matching principle of accounting.