How to journalize the enter of POS Machine Transaction in Tally
generally POS service provider deduct their MDR fees and rest amount send in bank account
how to record these transactions in books of accounts
Menu
Journal entry of POS Transaction
Replies (5)
Quick Summary
Pos transaction are journalised , but in whose books.
In the books of a sole proprietorship business
Sale ... 98
to bank account ..98
mdr fee .. 1.5
igst .. 0.5
to, merchant account 2
100 re sale. net recd 2rs.
hope this clears the point
to bank account ..98
mdr fee .. 1.5
igst .. 0.5
to, merchant account 2
100 re sale. net recd 2rs.
hope this clears the point
100 Sale , 10 MDR Charges, GST 12 % on Rs 10/- MDR charges 1.2
Bank A/c Dr 90
To Sales A/c Cr 90
( sales through Pos after deducting MDR charges)
MDR Charges A/c Dr 8.80
CGST A/c Dr .60
SGST. A/c Dr .60
To POS Marchant A/c Cr 10
( MDR charges payable)
POS Marchant A/c Dr 10
To Bank A/c Cr 10
( payment entry)
Bank A/c Dr 90
To Sales A/c Cr 90
( sales through Pos after deducting MDR charges)
MDR Charges A/c Dr 8.80
CGST A/c Dr .60
SGST. A/c Dr .60
To POS Marchant A/c Cr 10
( MDR charges payable)
POS Marchant A/c Dr 10
To Bank A/c Cr 10
( payment entry)
If sale Rs 100/- & MDR fee Rs 10/- then follow the below entries...
For Sale :
Dr. Customer A/c - 100
Cr. Sale A/c - 100
For Receipt:
Cr. Customer A/c - 100
Dr. Bank A/c - 90
Dr. POS Ser Provider A/c - 10
For Service Provider Charges:
Dr. MDR Service Charges - 10
Cr. POS Ser Provider A/c - 10
For Sale :
Dr. Customer A/c - 100
Cr. Sale A/c - 100
For Receipt:
Cr. Customer A/c - 100
Dr. Bank A/c - 90
Dr. POS Ser Provider A/c - 10
For Service Provider Charges:
Dr. MDR Service Charges - 10
Cr. POS Ser Provider A/c - 10
Recent Topics :
- IDS Refund: GSTR-2B Invoice Not Validated in State
- Self assessment tax paid not reflected in ITR2 fil
- Tax on nps corpus
- Tired converting GSTR-1, 2B & 3B to Clean Exce
- TDS on under construction property not deducted
- GST on Fixed Assets
- GST ITC april 22
- GST PAYMENT REGARDING
- GST Consultation Required – June–Augus
- TDS Code for Salary Payment to Non-Resident Intern
Related Topics :
CAclubindia
