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purchase and sales entry for prepaid recharge

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accoutanat
38 Points Posted on 13 October 2016
I have purchase recharge from Airtel of rs.10000 and paid rs. 10000

after sold out the stock I am getting commission of 100 near about 1℅
TDs also deducted on 100

total commission received 90 as stock of recharge and rs. 10 TDs to income tax

pls help to pass entry in tally
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On 13 October 2016 at 15:04 Report
Replies (6)
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Asst Manager(Internal audit)
1679 Points Posted on 13 October 2016
your query is not clearly explained....

i am assuming that you are a commission agent for doing recharge.

if that is the case

recharge purchase

recharge purchases a/c....Dr 10K
To Cash/Bank 10K

and for tds
bank a/c....Dr 90
Tds recievable a/c.... Dr 10
To income. 100
25 Reply
On 13 October 2016 at 16:39
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accoutanat
38 Points Posted on 13 October 2016
100 commission received as mentioned below
90 recharge balance
10 tds
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On 13 October 2016 at 23:56
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accoutanat
38 Points Posted on 13 October 2016
how to do entry in tally
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On 13 October 2016 at 23:58
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accoutanat
38 Points Posted on 14 October 2016
dr Bharti airtel 10000
Cr bank a/c 10000

dr recharge 10000
Cr Bharti Airtel 10000

sales entry

dr cash 10000
Cr recharge 1000

commission entry

Cr commission 100
dr Bharti Airtel 100

then what is the entry for
TDs rs. 10 and stock added of rs. 90
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On 14 October 2016 at 00:04
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Student CA Final
55 Points Posted on 13 May 2017
Dr. Commission Receivable

Dr recharge stock. 90
Dr TDS deducted. 10
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On 13 May 2017 at 02:48
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Student CA Final
55 Points Posted on 13 May 2017
Dr. Commission Receivable 100
Cr. Commision from airtel 100


Dr recharge stock. 90
Dr TDS deducted. 10
Cr Commission Receivable 100
Reply
On 13 May 2017 at 02:50


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