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Melwin v Felix (Lecturer )     13 January 2016

Journal entry

How to pass journal entry for transaction Commission due to Vinay 5000


 5 Replies

Ajit Hegde

Ajit Hegde (CA - Final)     13 January 2016

Commission A/c (indirect expense)               Dr. 5000

                     To TDS on commission (if applicable)          50

                     To Vinay                                                    4950

On subsequent payment:

Vinay Dr

      To Bank A/c

Melwin v Felix

Melwin v Felix (Lecturer )     14 January 2016

ok but if the commission is due why the outstanding commission account is not credited. 

Ajit Hegde

Ajit Hegde (CA - Final)     14 January 2016

Im sry i did not address your query properly. In that case, you can Credit O/s commission ac instead of vinay. And later after payment (payment entry remains the same) Dr. O/s commission and Cr. Vinay
Melwin v Felix

Melwin v Felix (Lecturer )     18 April 2016

Thank q so much for your kind reply
Melwin v Felix

Melwin v Felix (Lecturer )     18 April 2016

Thank q so much for your kind reply

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