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Need help in accounts entry of school

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Mohit Patel

Students

22 Points Posted on 01 June 2015

Hi..

I need help in accounting of School.

• school recives salary of staff from goverment which goes directly in staff's bank A/c via school A/c how should i show entry of this in tally.

Please also tell me tally ledger head for the same.

Thanks in Advance.

Replies (9)

Aditya Sharma

finance advisory

252 Points Posted on 01 June 2015

MAKE A NEW A/C HEAD::: REVENUE GRANT FROM GOVT. ENTRY AS UNDER::: 1.) BANK A/C DR. TO REVENUE GRANT FROM GOVT. 2.) SALARY A/C DR. TO BANK A/C

CA Vijay Jain

Chartered Accountant

100 Points Posted on 01 June 2015

Show govt grant as indirect income and salary as indirect expenses

Anil kumar sahoo

student

22 Points Posted on 01 June 2015

Salary a/c Dr To Bank a/c

Sandeep Jadhav

Bcom ITP STP ITRPS STRPS CS CA FIN

850 Points Posted on 01 June 2015

Amount received from govt.... goes in .. Govt grant recived for mr.x under indirect income and debited to salary account of respective staff I.e. if amount directly goes to staff bank account then u dosent need to cr. Bank ac So entry should be. Salary account Dr (Indirect expenses) To Govt grant received for salary of staff Cr (Indirect income) Hope u understand this

Sandeep Jadhav

Bcom ITP STP ITRPS STRPS CS CA FIN

850 Points Posted on 01 June 2015

If amount received to schhol ac then you have to pass 2 different entries 1 bank a/c Dr To govt grant received for staff salary Cr 2 salary a/c Dr To bank account Ok....