Dear sir,
Here I have a doubt that when we pay fine, penalty then these comes under expences. Can we record these under expences.
fees or penalty. Dr (indirect expences)
Bank. Cr
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penalty, fine, charges
Replies (2)
Its not expense its a fine for not obeying the laws and rules. If you have done everything in the stipulated time you don't have to pay penalty or fine etc
If we have paid penelty then how can we record this in tally.
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