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Paytm cash..

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Article
37 Points Posted on 29 September 2015
We have seen the growth of e-shopping so will paytm cash or any other cash backs if in a substantial amount on 31st march form part as asset of an individual's balance sheet...
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On 29 September 2015 at 14:30 Report
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Practicing CA
834 Points Posted on 29 September 2015
yes as per my opinion its current asset and hence balance outstanding shall be part of individuals balance sheet

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On 29 September 2015 at 14:51
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Manager-Finance & Taxation
61 Points Posted on 29 September 2015
Under Current Asset as Cash Balance with Others
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On 29 September 2015 at 18:56
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Article
37 Points Posted on 29 September 2015
Is there anything written in legal terms for such virtual money ??
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On 29 September 2015 at 19:49
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student
22 Points Posted on 30 September 2015
The balance in bank account is also a type of virtual money, which can be encashed when we want. The PayTm wallet cashback can also be encashed in several ways. So its a Current Assets definitely I think
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On 30 September 2015 at 10:04
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Article
37 Points Posted on 30 September 2015
Ok Thanks for the replies..This doubt just cropped up as i was using paytm..
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On 30 September 2015 at 10:11
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Chartered Accountant
50 Points Posted on 30 September 2015

but how we will record it in books like?

we will dr. the "paytm cash back"

which account to be credited whether a real account or a nominal account?

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On 30 September 2015 at 10:26
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Financial Analyst
31 Points Posted on 30 September 2015
Specific expenses which were incurred had to be credited as we have cash back for them
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On 30 September 2015 at 10:45
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Article
37 Points Posted on 30 September 2015
suppose we bought a product" X" for Rs 1500 by paying actual cash of Rs 1500 and cash back was 750 so the entry will be X-750 paytm cash back-750....dr to Cash/Bank-1500 hence effective recording of the asset will be at Rs 750 and Paytm Cash back an asset created..
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On 30 September 2015 at 12:16
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Manager Accounts and Finance
916 Points Posted on 30 September 2015

you can the pay tm as drs also

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On 30 September 2015 at 22:43
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Article
37 Points Posted on 02 October 2015
How it can be shown as DR since i am not making a sale ..Rather purchasing on which i am getting a cash back..now the point is this can be used only for Paytm unlike Cash or Bank bqlance ..so will there be any specific treatment...
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On 02 October 2015 at 09:40


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