Regarding rent posting in tally

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MBA
24 Points Posted on 26 April 2021

Dear sir/ Madam,

I have pvt ltd co. My account has passed only payment entry in pay.  do we have to post JV also.

Pl. advice  with ledger creation group and posting.

Regard,

Rajeev 

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On 26 April 2021 at 15:16 Report
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Quick Summary
This discussion addresses how to properly record rent payments for a private limited company using Tally. It clarifies that a Journal Voucher (JV) or Purchase entry is often necessary, even if only payment entries have been made. The advice includes setting up relevant ledgers for expenses, creditors, and TDS, along with steps for both rent payment and TDS payment.

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CMA
13117 Points Posted on 26 April 2021

Yes, JV (or Purchase) entry would make life easy even to deduct tax at source wherever applicable.

1) Provision/Expense accounting*

Rent Dr

To Creditor

To TDS

2) Payment of rent:

Creditor Dr

To Bank

3) Payment of TDS:

TDS

To Bank

*Add GST wherever applicable

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On 26 April 2021 at 15:23
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Chartered Accountant
24588 Points Posted on 26 April 2021
Agree with poornima
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On 26 April 2021 at 16:57

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