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.
CMA Poornima Madhava (CMA) 26 April 2021
Yes, JV (or Purchase) entry would make life easy even to deduct tax at source wherever applicable.
1) Provision/Expense accounting*
2) Payment of rent:
3) Payment of TDS:
*Add GST wherever applicable