Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Paypal entreis in tally

venkateswarlu (Accountant) (21 Points)

26 September 2017

Hi ,

journal entries for amount received by paypal and transfer to current account and paypal which head in tally

Reply
Follow
Share

5 Replies

RAJA P M ("Do the Right Thing...!!!") (127355 Points)
Replied 26 September 2017

Your query is not cleared....!

Payable is under "Provisions" head...

Ashiwini Ballodia (Managing Partner at TAXounting) (8727 Points)
Replied 27 September 2017

Paypal will be under Debtors accounts & entry will be
bank a/c DR
To paypay

RAJA P M ("Do the Right Thing...!!!") (127355 Points)
Replied 27 September 2017

Dear Ashiwini Ballodia.,
Why create payable entry under "Debtors" head...?
Any reasons...!

Ashiwini Ballodia (Managing Partner at TAXounting) (8727 Points)
Replied 27 September 2017

Dear Raja Ji, It is not 'payable' it is 'PayPal'. Paypal is a online payment gateway which provide services of safe collection of payment online & it charge nominal amount for that. It is used by the small/medium size origination because they can't create a payment gateway online as it requires many security issue as the hackers are very advance in today world