CASE OF SCHOOL:-
STD. 7 YEARLY RS.3500/- TUITION FEE..
Fees is collected from parents an fee receipt is issued to them. On the basis of fee receipt issued accounting entries is done.
BUT FOR SOME STUDENTS GOVERNMENT ISSUE GRANT UNDER RTE (RIGHT TO EDUCATION ACT) TO SCHOOL.:-
Under such situation school receive frees from government but school issue fee receipt to parents (without collecting money) whose child is being educated under RTE.
PLEASE DO EXPLAIN BOTH SITUATION ACCOUNTING ENTRY IN TALLY ERP 9 TO TALLY MY FEES INCOME REGISTER.